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Insurance Journal

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Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Updated: 1 day 13 hours ago

Outlooks Revised to Positive for Michigan’s Auto Club Group

Tue, 02/19/2019 - 07:05
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Dearborn, Michigan-based Auto Club Insurance Association and its wholly owned subsidiaries, Auto …

Missouri’s POWERS Insurance and Risk Management Hires Hentschke, Wittenberg

Tue, 02/19/2019 - 06:21
POWERS Insurance and Risk Management, a St. Louis, Missouri-based family owned and operated independent insurance agency, has added Samantha Hentschke as personal lines account manager and Luke Wittenberg as commercial lines insurance advisor. Hentschke will pursue new business opportunities, as …

State Farm’s Ohio Auto Insurance Customers to See Rate Cuts

Tue, 02/19/2019 - 06:15
State Farm Mutual Automobile Insurance Co. announced it is cutting its rates in Ohio for the second year in a row. The overall personal auto rate in the state is dropping by 3.7 percent, effective Feb. 18. The total state-wide …

FTC Privacy Settlement Over Cambridge Analytica Could Cost Facebook Billions

Tue, 02/19/2019 - 06:00
Facebook Inc. is in talks with U.S. regulators over alleged privacy violations that could force the social-media giant to pay billions of dollars in a record-breaking settlement, according to two people familiar with the matter. The U.S. Federal Trade Commission’s …

Suit Questions Maiden Holdings’ Handling of AmTrust Portfolio Risks

Tue, 02/19/2019 - 06:00
Maiden Holdings Ltd. is named in a class action investor lawsuit alleging that it failed to adequately address and reveal portfolio risks involving AmTrust Financial Services, its largest customer. The complaint alleges that Maiden didn’t disclose material information, and the …

Lincoln-Leavitt Insurance Adds Gordon and Davis in California

Tue, 02/19/2019 - 06:00
Lakeport, Calif.-based Lincoln-Leavitt Insurance has added Tina Gordon and Maria Davis. Gordon will focus on commercial insurance for the construction, manufacturing, retail and wholesale industries. Davis is an account manager and will service client accounts. Prior to joining the agency, …

Travelers Expands Wedding Protector Plan to Include Jewelry Insurance

Tue, 02/19/2019 - 05:40
The Travelers Companies, Inc. has expanded its Wedding Protector Plan insurance offering to include separate fine jewelry insurance policies with coverage limits of up to $100,000. Typical homeowners insurance policies often have limits for jewelry of up to about $1,500. …

North Carolina Insurers Request 19% Rate Increase for Mobile Home Policies

Tue, 02/19/2019 - 05:31
The North Carolina Rate Bureau has filed a request to increase homeowners’ insurance rates for mobile home policies of at least 19 percent, according to the North Carolina Department of Insurance (NCDOI). The NCRB, which represents insurance companies and is …

New Georgia Insurance Chief Focuses on Fighting Fraud in First Month in Office

Tue, 02/19/2019 - 05:22
Georgia Insurance Commissioner Jim Beck has cracked down on insurance fraud since taking office Jan. 15, reporting the arrests of 11 individuals for various fraud-related activities and guilty pleas of nine people for racketeering and insurance fraud. “Every time the …

South Carolina Officials, MADD Push Stricter DUI Legislation

Tue, 02/19/2019 - 05:06
South Carolina officials have joined members of Mothers Against Drunk Driving in support of stricter DUI legislation. Gov. Henry McMaster, law enforcement and some members of the General Assembly joined that group Feb. 12 on the Statehouse grounds in support …

J.M. Wilson Adds Jefferson as Transportation Underwriter in South Carolina

Tue, 02/19/2019 - 05:00
J.M. Wilson has added Jasmine Jefferson as Transportation underwriter in their North Charleston, S.C., office. Jefferson is responsible for underwriting new and renewal commercial transportation business, corresponding with carrier underwriters, and assisting independent agents in Georgia, North Carolina, South Carolina …

NSAIDs Overtake Opioids as Top Workers’ Comp Drug in California

Fri, 02/15/2019 - 21:18
Non-steroidal anti-inflammatories, or NSAIDs, have supplanted opioids as the most common therapeutic drug group prescribed to injured workers in California, according to a new California Workers’ Compensation Institute study. The study also finds that payment data show that both dermatological …

Texas Bill Would Protect First Responders’ Work Comp Claims from Illegal Denials

Fri, 02/15/2019 - 17:08
A bill recently filed in the Texas House of Representatives would penalize insurers that illegally deny Texas first responders access to medical treatment for line-of-duty injuries covered under state workers’ compensation laws. According to one of the authors of House …

Wyoming Avalanche Causes Damages, No Injuries

Fri, 02/15/2019 - 16:17
Heavy snowfall caused an avalanche in Wyoming. Snow tumbled onto a highway in northwest Wyoming, damaging one car but not injuring anyone. The Wyoming Department of Transportation says an avalanche occurred around noon Wednesday and sent snow onto U.S. 89 …

Lockheed Martin Sued for Fraud over Washington Nuclear Site

Fri, 02/15/2019 - 16:14
The U.S. Justice Department is accusing Lockheed Martin Corp. of using false records and making false statements to bill the Energy Department for tens of millions of dollars in unauthorized profits and fees at the Hanford Nuclear Reservation in Washington. …

Ryan Specialty Group to Acquire Texas’ Myron F. Steves & Co.

Fri, 02/15/2019 - 15:49
Chicago-based Ryan Specialty Group LLC has reached an agreement to acquire the assets and operations of Myron F. Steves & Co. (Myron Steves), an independently owned wholesale insurance brokerage headquartered in Houston, Texas, with additional offices in Austin, Dallas and …

Washington Business Owner And Mom Charged with Insurance Fraud

Fri, 02/15/2019 - 15:44
Two Yakima County, Wash. residents were charged in Superior Court this week in connection with separate auto insurance fraud claims. The charges followed investigations by Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit. William Gaethle, of Yakima, was charged with first-degree …

Mudslides Carry Away Homes, Water Rescues Needed in California Storm

Fri, 02/15/2019 - 15:35
Motorists swam for their lives and residents were rescued from homes sliding downhill as the wettest winter storm of the year triggered floods and mudslides across California on Thursday. In Sausalito, just across the Golden Gate Bridge from San Francisco, …

Asia-Pacific SMEs Are Over-Confident About Their Cyber Preparedness: Chubb

Fri, 02/15/2019 - 15:32
A significant perception gap exists between the cyber awareness and cyber preparedness at small and medium enterprises in some Asia-Pacific countries, according to a Chubb survey titled “Too Small to Fail?” The Chubb survey of 1,000 SMEs across Singapore, Hong …

State Farm Announces 4.9% Auto Insurance Rate Decrease in Virginia

Fri, 02/15/2019 - 14:54
State Farm Mutual Automobile Insurance Company will cut its rates in Virginia for the second time in two years. As a result, its overall personal auto rate will drop by 4.9 percent. The total state-wide expected impact for State Farm …

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