Insurance Journal
Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Updated: 37 min 44 sec ago
$3.7B in Additional Sandy Relief Aid Announced for N.Y., N.J. Transit Agencies
U.S. Transportation Secretary Ray LaHood announced on Thursday an additional $3.7 billion in disaster relief funds to help the four major transit agencies in New York and New Jersey that sustained the greatest damage from Hurricane Sandy. In addition to …
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Auto Glass Steering Bill Moves to Conn. Governor
A Connecticut bill that would expand a ban on steering by auto damage appraisers to include glass repairs is moving to the governor’s desk. The state Senate voted Wednesday, 34-2, in favor of a bill requiring an insurance company or …
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Senate Votes to Cut Crop Insurance Subsidies to Wealthiest Farmers
The wealthiest 20,000 U.S. farmers should pay more for taxpayer subsidized crop insurance, the Senate voted on Thursday, adopting a measure that blended deficit reduction, populism and farm program reform. Senators approved the amendment by a lopsided 59-33 vote, in …
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Sharkproof part 3 – Influence
Shark Proof The three I’s in Shark proofing are Insulation –Investment – Influence In the first two installments, we covered Insulation & Investment. Today I finish the series with Influence. As you remember, a ” Shark” is what I …
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Atlantic Coast Can Expect 3 to 6 Major Hurricanes This Season: NOAA
The government’s weather center is forecasting that this year’s Atlantic hurricane season that begins June 1 will be an active one, perhaps even extremely active, during its six months. Experts at the National Oceanographic and Atmospheric Administration (NOAA) said there …
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Marathon Bombing Victims Urged to Apply for Funds
The administrator of the Boston Marathon victims’ compensation fund said just five people have filed applications as of Tuesday, and is urging those affected by the blasts to fill out the paperwork before time runs out. The families of the …
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Moore, Oklahoma Tornado Damage Estimated at More than $2B
The Oklahoma Insurance Department says a preliminary estimate suggests the cost of the tornado that hit the Oklahoma City suburb of Moore could be more than $2 billion. Spokeswoman Calley Herth told The Associated Press that the early tally of …
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Byrne Named Chair of The Council of Employee Benefits Executives
Tim Byrne, vice president and partner at Wisconsin-based M3 Insurance, has been named chair of the Council of Employee Benefits Executives (CEBE), effective June 1, 2013. The Council of Employee Benefits Executives is a standing working committee of The Council …
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UK Insurer Marketform Expands into U.S. Hospital PL Market
Lloyd’s specialist underwriter Marketform will commence underwriting hospital professional liability, comprising medical malpractice and associated general liability insurance, in the United States effective June 1, 2013. Marketform will initially enter the hospital professional liability insurance market with plans to expand …
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Illinois Lawmakers Seek Disaster Declaration in 16 Counties
Illinois’ congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month’s flooding. The letter was sent to support a similar request by Gov. Pat Quinn. Quinn …
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Wisconsin Bill Would Require $50 Tobacco Use Fee for Health Insurance
Wisconsin state workers who smoke would have to pay $50 more per month for health insurance under a Gov. Scott Walker proposal that has won approval by the Legislature’s budget committee. The Joint Finance Committee on voted 13-3 to approve …
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National Group Praises Hawaii Cellphone Driving Law
A national nonprofit is cheering Hawaii’s new law that prohibits people from holding cellphones and other portable electronics while driving. Jonathan Adkins from the Governors Highway Safety Association in Washington says Hawaii’s law is tougher than laws in most other …
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U.S. Senate Passes Bill with Kansas River Levee Funding
The U.S. Senate has approved a bill that includes funding aimed at improving Topeka’s levee system along the Kansas River. The bill approved in the Senate would provide about $15.7 million in federal matching funds for Topeka to correct problems …
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Feds Take Over California High-Risk Insurance Program
About 17,000 Californians with serious medical problems will be moved from a state-run stopgap health insurance program to a federal plan starting in July, ensuring they will have no break in medical coverage until the national health care reforms kick …
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Safety Board: ATF Blocking Texas Plant Blast Probe
Federal agents and the state fire marshal have effectively barred a federal safety panel from the site of a Texas fertilizer plant blast that killed 15 people and injured about 200 others, hampering its investigation, the panel’s chairman said. In …
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New Mexico Setting New Records With Drought
New Mexico is slipping further into drought, having marked the driest two-year period in nearly 120 years of record-keeping. National weather forecasters and water managers shared the latest statistics on New Mexico’s devastatingly dry conditions during a meeting Tuesday. They …
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Ex-Alaska Worker Charged With Workers’ Comp Fraud
A former Alaska state employee and his supposed masseuse are accused of worker’s compensation fraud. Scott A. Groom and Laurayne K. Fischer are charged with 93 counts including perjury, theft and falsification of business records. The two are currently living …
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R.I. Nightclub Owners Say They Didn’t Know Part-Timers Needed WC Coverage
The owners of the Station nightclub say they didn’t know they needed to buy workers’ compensation insurance for the club’s part-time employees. Michael and Jeffrey Derderian are asking Rhode Island’s state Supreme Court to review a more than $1 million …
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Insurers, Banks Leveraging Trade Talks to Change Dodd-Frank
U.S. bankers and insurers are trying to use trade deals, which can trump existing legislation, to weaken parts of the Dodd-Frank Act designed to prevent a repeat of the 2008 financial crisis. While the companies say they are seeking agreements …
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U.S. Accountants Group Backs BP on Curbing Oil Spill Payouts
A group of U.S. accounting professors is backing BP’s fight to rein in compensation it has to pay for the 2010 Gulf of Mexico oil spill, which is threatening to add billions of dollars to its growing bill for the …
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