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News – Insurance Journal

Here’s What the House Has in Mind for Revamping Flood Insurance Program
A much-anticipated House subcommittee proposal on flood insurance promises to reauthorize the National Flood Insurance Program (NFIP) for five years beyond its September 30 expiration date. The proposal would introduce reforms to put the NFIP on stronger financial footing; provide aid …

POSTED MAY 26, 2017 5:00 AM
Report: Florida Resident Sparked Wildfire With Lawn Mower
A lawn mower is being blamed for sparking a wildfire that destroyed five structures in Florida. The Naples Daily News reports that the state’s Office of Agricultural Law Enforcement concluded its investigation into the fire that started April 20 in …

POSTED MAY 26, 2017 4:50 AM
Zenefits to Pay North Carolina $104K to Settle Licensing Violations
The North Carolina Department of Insurance has reached a settlement agreement with YourPeople, Inc., dba Zenefits FTW Insurance Services (Zenefits) resulting in a $104,500 penalty, according to a statement from Insurance Commissioner Mike Causey. Department of Insurance Agent Services Division …

POSTED MAY 26, 2017 4:43 AM
West Virginia Gov Orders State to Step-Up Cybersecurity Efforts
Gov. Jim Justice has directed the West Virginia Board of Risk and Insurance Management to take steps to protect personally identifiable information collected and kept by state agencies, including health information required by law to be kept private. In an …

POSTED MAY 26, 2017 4:28 AM
1 Dead After Florida Driver Crashes Into Gas Pump, Causing Fire
A fire at a gas station ignited by a car slamming into a pump has killed one person in Florida. Local news organizations report the fire erupted at a BP station in Dania Beach on Tuesday night after a driver …

POSTED MAY 26, 2017 4:00 AM
Report: Climate Change to Increase Insured Losses from Windstorms in the U.K.
Climate change will drive up wind losses in the U.K. in coming years, according to a recent report out from the Association of British Insurers, the Met Office, and Boston, Ma.-based catastrophe modeler AIR Worldwide. The report shows that temperature …

POSTED MAY 26, 2017 12:31 AM
Zurich North America Combines Commercial, Specialty Products; Horgan to Head New Unit
Zurich North America is bringing its Specialty Products business together with its North America Commercial Insurance as part of a continued streamlining of operations. The company said the move will provide easier access and greater consistency across North America and …

POSTED MAY 26, 2017 12:22 AM
Federal Disaster Assistance Granted for 2 Oklahoma Counties
Two Oklahoma counties may now receive disaster assistance from the U.S. Small Business Administration (SBA) as a result of the severe weather that occurred April 28 through May 2, the governor’s office reported. The designation provides SBA low-interest disaster loans …

POSTED MAY 25, 2017 4:48 PM
Texas ‘Industrial Insureds’ Surplus Lines Bill Signed into Law
On May 11, the Texas Senate passed a bill exempting certain policyholders from the requirement that agents to make a “diligent effort” to find insurance in the admitted commercial insurance market. Gov. Greg Abbott has signed the measure, which becomes effective …

POSTED MAY 25, 2017 4:30 PM
Emotional Intelligence: Do Your Leaders Walk the Talk?
There is a famous story about a visit by President Kennedy to the NASA space center. When Kennedy noticed a man carrying a broom in one of the buildings, he asked: “What’s your job here?” The janitor replied: “I’m helping …

POSTED MAY 25, 2017 4:28 PM
Collision Between School Bus, Truck Sends 3 Students to Hospital
Three students have been taken to the hospital for minor injuries after a school bus and a truck collided in eastern South Carolina. The wreck was reported around 8 a.m. Wednesday on U.S. 52 in Moncks Corner. Berkeley County school …

POSTED MAY 25, 2017 4:25 PM
Lt. Gen. Stanley E. Clarke III Named Chairman of Armed Forces Insurance
Armed Forces Insurance (AFI), based in Leavenworth, Kansas, has appointed Lt. Gen. Stanley E. “Sid” Clarke III, U.S. Air Force (Ret.), as its incoming chairman. Clarke begins his new role as Armed Forces Insurance celebrates its 130th year in service …

POSTED MAY 25, 2017 4:21 PM
Lloyd’s Insurers Launch Asia Political Risk Consortium
Three Lloyd’s insurers have joined forces to form a Political Risk Consortium in Asia, offering increased capacity for a wide range of political and contract frustration risks. Beazley, Chaucer and Talbot will work collectively to provide large scale capacity of …

POSTED MAY 25, 2017 4:20 PM
Wildfire near Leavenworth, Washington, Forces Evacuations
Evacuation orders are still in effect in as crews battle a wildfire north of Leavenworth, Washington. Brendan Cowan, a spokesman for the Northwest Incident Management Team, says the blaze covered about 40 acres as of Wednesday morning. Cowan says there’s …

POSTED MAY 25, 2017 4:11 PM
Suspicious Fires in Arkansas Targeting Police, Firefighter Properties
Authorities in a small Arkansas town say local police and firefighters are being targeted by suspicious fires and vandalism. The Arkansas Democrat-Gazette reports the incidents in Cotton Plant began in February, when a fire destroyed a firefighter’s rental home. The …

POSTED MAY 25, 2017 4:08 PM
Wisconsin County’s Initial Tornado Damage Estimate: $10M
The Barron County Sheriff’s Department has released initial damage estimates from a tornado that tore through the Chetek area of northwestern Wisconsin last week. The department said Sunday that the storm damaged 231 homes and four commercial properties across the …

POSTED MAY 25, 2017 4:06 PM
New Flood Plain Maps Bring Good, Bad News for South Dakota Towns
The Federal Emergency Management Agency’s proposed revisions to Yankton’s flood plain map could encompass nearly 200 additional properties. On the flip side, a revision in Rapid City means 224 properties have been removed from that city’s flood hazard area. Properties …

POSTED MAY 25, 2017 4:03 PM
California Auto Dealer Awarded $256M in Nissan Suit
A jury has awarded nearly $256.5 million to a California auto dealership owner who claimed Nissan had a secret plan to put him out of business during the recession. The Orange County Superior Court panel ruled in favor of Michael …

POSTED MAY 25, 2017 2:26 PM
Alaska Hosts Plate Tectonics Research Effort
Alaska averages 40,000 earthquakes per year, with more large quakes than the other 49 states combined, and America’s shakiest state is about to have its ground examined like never before. A federal agency that supports basic science research is completing …

POSTED MAY 25, 2017 2:22 PM
Private Investment Firm, J.C. Flowers, Acquires UK General
J.C. Flowers & Co. LLC, a New York-headquartered private investment firm that focuses on investing in the global financial services industry, announced it has acquired UK General Insurance Group Ltd. Completed on May 24, after receiving UK regulatory approval, the …

POSTED MAY 25, 2017 2:05 PM
Fire Guts New York Bar Favored by Author Jack Kerouac
A famous New York bar once frequented by Beat Generation writer Jack Kerouac has been gutted by a fire. Officials in the village of Northport on Long Island tell Newsday that the fire started around 7 a.m. Tuesday inside Gunther’s …

POSTED MAY 25, 2017 1:21 PM
FM Global Includes Top 3 Business Risks in Global Resilience Index
FM Global has expanded its Global Resilience Index to include insights around three of the top risks facing businesses: cyber attack, natural hazards and supply chain failure. The interactive, online index ranks 130 countries and territories by their enterprise resilience …

POSTED MAY 25, 2017 1:08 PM
New York State Providing $10M for Lake Ontario Flooding Recovery
The state is making $10 million in funding available to New York municipalities dealing with flooding along the Lake Ontario shoreline. Gov. Andrew Cuomo announced Monday that the funds will support flood recovery efforts such as repairing break walls, roads, …

POSTED MAY 25, 2017 1:02 PM
Maine’s Cross Insurance Promotes Jermyn to President of Benefits Division
Cross Insurance, a Bangor, Maine-headquartered subsidiary of Cross Financial Corp., has promoted Eric Jermyn to president of Cross Employee Benefits. He will be based in Portland, Maine. In this new role, Jermyn’s duties include the growth and maintenance of Cross …

POSTED MAY 25, 2017 12:52 PM
P/C Insurance Industry Again Reports Underwriting Loss in Q1
The U.S. property/casualty industry posted a first-quarter 2017 net underwriting loss of $841.5 million, according to preliminary financial results, continuing the industry’s underwriting loss trend seen in 2016. The first-quarter loss was significantly less than the $2.0 billion net underwriting …

POSTED MAY 25, 2017 12:47 PM
Liberty Mutual Appoints Dekermanji Chief Underwriter for Specialty Energy
Liberty Mutual has appointed Jessica Dekermanji as senior vice president and chief underwriting officer of the National Insurance Specialty Energy unit. Dekermanji will lead a team of underwriting, risk control and account services professionals focused on expanding products and integrating technology to …

POSTED MAY 25, 2017 12:30 PM
Swiss Re Corporate Solutions Names Rake as CEO Asia Pacific
Swiss Re Corporate Solutions has appointed Jonathan Rake as CEO Asia Pacific, based in Singapore. Rake will move from his current position as head South East Asia and assumes the new role on July 1, 2017. He succeeds Fred Kleiterp, …

POSTED MAY 25, 2017 10:49 AM
FM Global Promotes Kelly to VP Diversity & Int’l Human Resources
Commercial property insurer FM Global announced the promotion of Angela Kelly to vice president, diversity and international human resources. Kelly, a 23-year veteran of the company, will have overall responsibility for leading the company’s worldwide efforts to support workplace diversity …

POSTED MAY 25, 2017 10:36 AM
TMK Launches Visual Effects, Post Production Media Cover
Tokio Marine Kiln (TMK), the London-based specialist insurance business, announces the launch of visual effects (VFX) and post production media insurance. TMK said its post-production media insurance offers flexible cover for companies specializing in online or offline editing and digital …

POSTED MAY 25, 2017 10:01 AM
Republican Health Bill Would Cut Deficit by $119B, Add 23 Million Uninsured: CBO
A bill passed by U.S. House Republicans would cause 23 million people to lose healthcare coverage by 2026 while de-stabilizing health insurance markets in some states and making it hard for sick people to buy insurance, a budget watchdog agency said on Wednesday. …

POSTED MAY 25, 2017 5:00 AM

NOTICE: The links and articles found on or within this news center are simply for informational purposes that we believe may be of benefit to our clients and/or website visitors. By providing these links on our website, we are not recommending or endorsing the use of the particular products or services these third parties offer. Nor does Heil and Kay Insurance Agency Inc. confirm, corroborate or agree to the statistics or opinions on these links and articles. We urge you to review each website’s Privacy Policy, Disclaimers, and develop an independent opinion of the service or product for any link pursued.

 

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