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Today’s Insurance News
Source: Insurance Journal
Arkansas Court Backs $3M Judgment Against Gerber over Workers’ Time
- May 27, 2016, 3:40 pm
Arkansas’ highest court says a baby food manufacturer must pay more than $3 million to workers for the time they spent dressing and undressing into uniforms and protective gear. The state Supreme Court upheld a lower court’s ruling that Gerber …
Flooded Homeowners Allege Negligence in Suit Against City of Houston
- May 27, 2016, 3:38 pm
A citizen’s group and homeowners who have recently suffered repeat flood damage sued Houston, Texas, in federal court, alleging the city backed improvements at a commercial development they say were made without putting in adequate drainage. Residents Against Flooding and …
Hackers Target 12 SE Asian Banks, Revealing Campaign Against SWIFT Network
- May 27, 2016, 3:34 pm
Investigators are examining possible computer breaches at as many as 12 banks linked to SWIFT’s global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh central bank, according to a person familiar …
Heffernan Names Northington Assistant Vice President in Southern California
- May 27, 2016, 2:52 pm
Heffernan Insurance Brokers has named Paula Northington assistant vice president of employee benefits in its Orange County, Calif. office. Northington began her career in the financial services industry with Private Ledger Financial Services. She moved into a leadership role at …
Early Season Storm Could Roil Southeast Coast’s Memorial Day Weekend
- May 27, 2016, 12:36 pm
A storm that would be named Bonnie threatens holiday cookouts and celebrations along the U.S. coast from North Carolina to Georgia over the Memorial Day weekend. If the low-pressure system now northeast of the Bahamas develops, it will become the …
With Hurricane Season About to Open, Forecasters Already Eyeing East Coast
- May 27, 2016, 12:08 pm
When the Atlantic  hurricane season starts next week, the most active area might just be off the U.S. East Coast. At this time of year, passing cold fronts that linger over waters warmed by the late spring sun can trigger …
Ropner Insurance Services Appoints 6 New Brokers as Part of Ongoing Expansion
- May 27, 2016, 11:14 am
Ropner Insurance Services Ltd., the Lloyd’s and London market broker, has appointed six new brokers as part of its ongoing expansion, following the Global Risk Partners Ltd.-backed management buyout last year: Gary Watson and Stewart Alliston have joined the international …
Jury Sides with Google; Oracle Loses $9 Billion Copyright Claim
- May 27, 2016, 10:47 am
Google won a jury verdict that kills Oracle Corp.’s claim to a $9 billion slice of the search giant’s Android phone business. Oracle contended that Google needed a license to use its Java programming language to develop Android, the operating …
AXA Sells SunLife, Names Top Team Including Harlin as CFO, Olivier to Lead P/C
- May 27, 2016, 10:42 am
AXA SA sold its SunLife unit in the U.K. to Phoenix Group Holdings and announced the top-management team that will work with incoming Chief Executive Officer Thomas Buberl when he takes the helm in September. Gerald Harlin will become group …
Towergate Launches Specialty London Markets U/W Division; 2 DUAL Execs Hired
- May 27, 2016, 8:51 am
Towergate Underwriting has formed a Specialty London Markets underwriting division, by hiring two market leading talents in this important and undeveloped specialist opportunity for the group. John Murphy and Glenn Marshall will join upon leaving DUAL, an international underwriting agency, …
Credit Suisse Sells Operational Risk Bonds, Insuring Rogue Trading, Cyber Crime
- May 27, 2016, 8:22 am
Credit Suisse Group AG sold 220 million Swiss francs ($222 million) of bonds designed to offload potential losses on events like rogue trading, with some investors sidestepping the issue because of the incalculable risk. The second-largest Swiss lender initially planned …
Liability Insurer Accuses Surgical Robot Maker of Hiding Injury Claims
- May 27, 2016, 6:00 am
It’s health insurers’ cardinal rule: disclose pre-existing conditions. Now comes a case in which that familiar decree involves not a patient, but rather a $1.5 million surgical robot known as the da Vinci system. Two insurance companies say da Vinci’s …
Hurricane Center Updating Storm Surge Maps for North Carolina’s Outer Banks
- May 27, 2016, 5:28 am
New storm surge maps for the Outer Banks of North Carolina will be available this summer. The Virginian-Pilot of Norfolk reported that the National Hurricane Center will release the maps to predict where and how deep flooding would be in …
Texas’ Coastal Wind Insurer Expects $4.9B in Funds for 2016 Hurricane Season
- May 27, 2016, 5:18 am
While its reinsurance plans for the 2016 hurricane season haven’t yet been nailed down, Texas’ insurance company of last resort for wind and hail along the Texas coast expects to have around $4.9 billion in available funds for paying claims …
Unsealed Records Show Drug Firms Flooded Rural West Virginia With Painkillers
- May 27, 2016, 5:13 am
Information about pill shipments that prescription drug distributors being sued by the state had sought to keep secret show that the firms flooded rural West Virginia with hundreds of thousands of painkillers. The Charleston Gazette-Mail reports a Boone County judge …
Judge: Plaintiffs in University of Tennessee Discrimination Suit Owed $460K in Fees
- May 27, 2016, 4:56 am
A federal judge has recommended that former Tennessee associate director of sports medicine Jenny Moshak and two ex-Lady Volunteers strength coaches should recover more than $460,000 in attorneys’ fees as part of the settlement in their lawsuit against the university. …
Oklahoma Insurance Regulators: No Authority to Approve ACA Rate Hikes
- May 27, 2016, 12:53 am
The Oklahoma Insurance Department does not have statutory authority to approve or deny rate increases filed by insurers on the federal health insurance exchange, state regulators say. Oklahoma, along with Texas, Missouri, Alabama and Wyoming, is a direct enforcement state …
Indiana Department of Insurance Approves Anthem’s Cigna Acquisition
- May 27, 2016, 12:48 am
The health insurer Anthem Inc. announced it has received approval from Indiana Department of Insurance Commissioner Stephen W. Robertson for the acquisition of Cigna HealthCare of Indiana Inc., a subsidiary of Cigna Corp. On July 23, 2015 Anthem and Cigna …
Medical Marijuana Legalization Bill Closer to Passage in Ohio
- May 27, 2016, 12:46 am
A proposal to legalize medical marijuana in Ohio has squeaked through a critical Senate panel over opposition of some Republicans and Democrats. The Senate Government Oversight & Reform Committee’s 7-to-5 vote sets the stage for probable passage of the bill …
Sanchez Appointed Vice President at Texas-Based LevelFirst
- May 27, 2016, 12:44 am
LevelFirst, the wholesale broker and MGA binding facility owned by IIAT Services Co., has named Kelley Sanchez as vice president. Sanchez will underwrite new business opportunities with the Transportation Division. She has more than 10 years’ experience in the industry. Sanchez …
Stortzum Joins Alliant’s ProQuest Division in Chicago
- May 27, 2016, 12:42 am
Lawyers professional liability specialist Nate Stortzum has joined the ProQuest division of Alliant Insurance Services as vice president. Stortzum is based in Chicago Prior to joining ProQuest, Stortzum was Midwest regional manager for the IronPro division of Ironshore. There, he was …
What University of Washington’s Climate Risk and Insurance Summit Has in Common with Paris
Don Jergler - May 26, 2016, 10:36 pm
It may not be a climate change summit for the ages like last year’s Paris meeting in which world leaders hashed out a historic agreement to reduce carbon emissions, but it does have two things in common with the 2015 United …
RIC Names Dahl Personal Lines Manager in Nevada
- May 26, 2016, 7:39 pm
RIC Insurance General Agency Inc. has named Gary Dahl its personal lines manager. Dahl will be based at RIC’s Reno, Nev. office and will report to Jeff Gans, chief operating officer. Dahl has more than 30 years of personal lines …
The Unpleasantness of Selling and Buying Insurance
- May 26, 2016, 7:19 pm
Do you have a minute to talk about your death? It isn’t easy to sell life insurance. Investing in a mutual fund, you feel like you’re saving money. Purchasing insurance, you feel like you’re spending it. “It’s not a pleasant …
California School District Aide Busted for Felony Workers’ Comp Fraud
- May 26, 2016, 6:17 pm
An employee of a Southern California school district has been arrested on charges of workers’ compensation fraud for allegedly racking up $33,000 in treatments and disability payments. Juanita Denise Schmittle, 50, of Baldwin Park, Calif., was arrested by California Department …
Ironshore Names Houvenagle Wholesale Branch Executive for West Coast
- May 26, 2016, 6:12 pm
Ironshore Inc. has named Tara Houvenagle wholesale West branch executive for the Western region. Houvenagle, who is based in Ironshore’s St. Louis, Mo. office, will report to Joseph L. Boren, president of U.S. field operations. In her additional role as …
Massachusetts AG Launches Child Labor Awareness Initiative
- May 26, 2016, 4:59 pm
With summer jobs approaching, Massachusetts Attorney General Maura Healey has launched an effort to educate teenagers, parents, and employers about the state’s youth employment laws. “Because of committed employers across Massachusetts, tens of thousands of young people will have an …
Massachusetts Emergency Workers Responding to More Opioid Overdoses
- May 26, 2016, 4:34 pm
It all starts with a $20 to $30 purchase. That’s the average street price of heroin today, according to Framingham, Massachusetts, Police. But if that one purchase is a bad batch, too strong, or if the user injects too much, …
Tornadoes Destroy Homes in Western Kansas, Damage Assessment Begins
- May 26, 2016, 4:32 pm
Crews were evaluating the damage Wednesday after tornadoes destroyed several homes and left two people critically injured in western Kansas as a series of severe storms swept across the Plains. Meanwhile, one person drowned in central Oklahoma after a vehicle …
North Dakota Company Settles Racial Discrimination Suit for $250K
- May 26, 2016, 4:30 pm
A Williston, N.D.-based oil field service company will pay $250,000 to a worker it fired after he complained of harassment to settle a discrimination and retaliation lawsuit filed by the U.S. Equal Employment Opportunity Commission. The lawsuit filed a year …
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