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Today’s Insurance News
Source: Insurance Journal
Chubb Europe Renews Concours d’Elégance at Salon Privé Sponsorship
- May 29, 2015, 10:25 am

Salon Privé and Chubb Insurance Company of Europe SE announced that they have renewed their sponsorship agreement for the esteemed automotive event’s Concours and Tour d’Elégance. Chubb said the “five-year agreement continues a hugely successful partnership, which, over the past …

The article Chubb Europe Renews Concours d’Elégance at Salon Privé Sponsorship appeared first on Insurance Journal.

Alberta Wildfires Burn for 6th Day, 10% of Oil Sands Crude Offline
- May 29, 2015, 8:53 am

Firefighters battled wildfires in northern Alberta, Canada’s biggest crude-producing region, for a sixth day on Thursday, with two blazes near oil sands facilities still out of control. The wildfires have forced producers in the Western Canadian province, the largest source …

The article Alberta Wildfires Burn for 6th Day, 10% of Oil Sands Crude Offline appeared first on Insurance Journal.

Factbox: Lloyd’s Chief, Other Leaders Offer Views on Britain’s EU Referendum
- May 29, 2015, 7:43 am

Prime Minister David Cameron has pledged to renegotiate Britain’s ties with Europe and then give voters a referendum on European Union membership by the end of 2017. Following are the views of business leaders: Lloyd’s of London Chief Executive Inga Beale: …

The article Factbox: Lloyd’s Chief, Other Leaders Offer Views on Britain’s EU Referendum appeared first on Insurance Journal.

Fosun’s Equity Deals to Intensify as It Seeks to Fund Acquisition Ambitions
- May 29, 2015, 7:27 am

A $1.2 billion share sale by Fosun International Ltd. this month was likely only the start of a love affair with equity deals, bankers say, as the Chinese conglomerate seeks to cut reliance on debt to fund its huge acquisition …

The article Fosun’s Equity Deals to Intensify as It Seeks to Fund Acquisition Ambitions appeared first on Insurance Journal.

European Central Bank Warns of Risks to Insurers of Low Interest Rates
- May 29, 2015, 7:06 am

The European Central Bank said on Thursday that record low interest rates were putting insurance firms and banks under increasing pressure and warned that any sell-off in stocks and bonds could damage the euro zone’s recovery. In its twice-yearly Financial …

The article European Central Bank Warns of Risks to Insurers of Low Interest Rates appeared first on Insurance Journal.

Obama Signs Oklahoma Disaster Declaration
- May 29, 2015, 5:30 am

President Barack Obama has signed a disaster declaration for areas of Oklahoma affected by severe storms, tornadoes, straight-line winds and flooding in early May. The declaration signed on May 26 makes federal funding available to individuals whose property was damaged …

The article Obama Signs Oklahoma Disaster Declaration appeared first on Insurance Journal.

Let Congress, Not Courts, Decide Obamacare Reimbursements: Administration
- May 29, 2015, 2:56 am

U.S. House Republicans suing the Obama administration over the federal health care law should change it if they don’t like it, a Justice Department lawyer told a skeptical federal judge in a bid to have the lawsuit thrown out. The …

The article Let Congress, Not Courts, Decide Obamacare Reimbursements: Administration appeared first on Insurance Journal.

Uber Discloses Expanded Customer Data Tracking
- May 29, 2015, 2:12 am

Uber Technologies Inc.’s new privacy policy released Thursday is shorter, easier to read and more expansive than before. The car booking company now more clearly tells its customers it can pretty much track everything they do while using the Uber …

The article Uber Discloses Expanded Customer Data Tracking appeared first on Insurance Journal.

Allstate Sees Profit in Selling Customer Driving Data
- May 29, 2015, 1:25 am

Allstate Corp. said improved technology will eventually give the auto insurer a chance to boost revenue by selling customer driving data, much as Google Inc. profits by collecting information on those who use its search engine. “There are lots of …

The article Allstate Sees Profit in Selling Customer Driving Data appeared first on Insurance Journal.

Hail Claim Litigation Bill Dies in Texas House
Stephanie K. Jones - May 29, 2015, 12:52 am

With the legislative session winding down in Texas, a measure sought by the insurance industry that its proponents say would help rein in litigation related to property insurance claims has died in the House of Representatives. Passed by the Senate on …

The article Hail Claim Litigation Bill Dies in Texas House appeared first on Insurance Journal.

Burns & Wilcox Brokerage Taps Olson in California
- May 28, 2015, 10:47 pm

Burns & Wilcox Brokerage has named Karl Olson vice president and professional liability regional practice leader in its San Francisco team. Olson will be responsible for delivering professional liability brokerage services and growing the practice. He will report to Burns …

The article Burns & Wilcox Brokerage Taps Olson in California appeared first on Insurance Journal.

BP Withdraws Bid for Transocean’s $750M Insurance
- May 28, 2015, 5:56 pm

BP Plc won’t seek to access Transocean Ltd.’s $750 million insurance policy for the Deepwater Horizon rig, which exploded while drilling a BP well in 2010, sparking the worst offshore spill in U.S. history. London-based BP notified the Texas Supreme …

The article BP Withdraws Bid for Transocean’s $750M Insurance appeared first on Insurance Journal.

Lockton Partners with Cyber Risk Firm on Executive-Level Assessment Service
- May 28, 2015, 4:58 pm

Dynetics, a provider of technology products, and the Washington, D.C. operations of Lockton Companies, have formed an alliance to provide Lockton clients direct access to QuickLook, an executive-level cyber risk assessment service. Part of Dynetics’ Cyber RiskScope portfolio of cyber …

The article Lockton Partners with Cyber Risk Firm on Executive-Level Assessment Service appeared first on Insurance Journal.

Michigan Agent Charged with Felony Embezzlement
- May 28, 2015, 4:54 pm

A Michigan insurance agent faces felony embezzlement charges following an investigation by the the Michigan Department of Insurance and Financial Services (DIFS). After receiving a complaint from an insurance company, DIFS discovered that Vladimir Ivanovich Tatarly of Lake Orion was …

The article Michigan Agent Charged with Felony Embezzlement appeared first on Insurance Journal.

The Hartford Joins Agents’ Trusted Choice Website for Small Commercial Lines
- May 28, 2015, 4:51 pm

The Trusted Choice.com website has snagged a leading agency system insurer to help independent agencies sell more small business policies online. The Hartford has joined the TrustedChoice.com online commercial insurance platform backed by the Independent Insurance Agents and Brokers of …

The article The Hartford Joins Agents’ Trusted Choice Website for Small Commercial Lines appeared first on Insurance Journal.

Jury: Abbott Must Pay $23M in Punitive Damages Over Depakote
- May 28, 2015, 4:48 pm

Abbott Laboratories was ordered to pay $23 million in punitive damages to a Minnesota girl whose family blamed the company’s epilepsy drug Depakote for causing her birth defects. It was the first verdict against the drugmaker over the medication. A …

The article Jury: Abbott Must Pay $23M in Punitive Damages Over Depakote appeared first on Insurance Journal.

NAS Launches Residential Care Facilities Program in California
- May 28, 2015, 4:46 pm

NAS Insurance has launched a professional and general liability insurance program for owners of residential care facilities for the elderly (RCFEs). The coverage is designed to help California RCFE owners comply with the July 1, 2015 deadline to maintain liability …

The article NAS Launches Residential Care Facilities Program in California appeared first on Insurance Journal.

Wisconsin Bank Settles Complaint over Racial Discrimination
- May 28, 2015, 4:42 pm

Green Bay, Wis.-based Associated Bank has agreed to generate nearly $200 million in mortgage loans in predominantly minority neighborhoods as part of a settlement over a federal racial discrimination complaint. The loans would be made over the next three years …

The article Wisconsin Bank Settles Complaint over Racial Discrimination appeared first on Insurance Journal.

Insurer Will Pay $300K in Michigan ‘Scared-to-Death’ Case
- May 28, 2015, 4:38 pm

An insurance company has agreed to pay $300,000 to settle a lawsuit over the death of an 85-year-old man who may have been scared to death before his car slammed into a tractor-trailer in suburban Detroit. The settlement ends a …

The article Insurer Will Pay $300K in Michigan ‘Scared-to-Death’ Case appeared first on Insurance Journal.

Farmers in Arkansas Expect Losses from Flooding
- May 28, 2015, 4:36 pm

Farmers across Arkansas are still weathering a series of spring showers that have flooded fields, smothered crops and swept away cattle. Since March 1, between 12 to 18 inches of rain has fallen across the Arkansas River basin, according to …

The article Farmers in Arkansas Expect Losses from Flooding appeared first on Insurance Journal.

Oklahoma Roads in Bad Shape After Record Rainfall, Flooding
- May 28, 2015, 4:35 pm

Record-smashing rainfall and torrential flooding that hammered Oklahoma in May has likely caused millions of dollars’ worth of damage to roads and bridges across the state, although official estimates won’t be available for weeks. While the visual image of powerful …

The article Oklahoma Roads in Bad Shape After Record Rainfall, Flooding appeared first on Insurance Journal.

Government Emergency Response Tested by Texas Storms
- May 28, 2015, 4:32 pm

Deadly severe weather in Texas over the long holiday weekend tested government alert and evacuation procedures, as officials scrambled to deal with storms and historic flooding that left more than a dozen people dead and a similar number missing. Crews …

The article Government Emergency Response Tested by Texas Storms appeared first on Insurance Journal.

ACE Appoints New Country President for South Africa
- May 28, 2015, 3:53 pm

ACE Group announced the promotion of Gary Jack, chief operating officer, South Africa, to the role of country president as it continues to grow its business in Africa. In his new role, Jack will be responsible for managing the performance, …

The article ACE Appoints New Country President for South Africa appeared first on Insurance Journal.

Ames & Gough Hires Bateson as Senior Broker in Virginia
- May 28, 2015, 3:43 pm

Ames & Gough, an insurance broker and risk management consultant specializing in serving design professionals, law firms, associations/nonprofits and other professional service firms, hired Jay Bateson as senior broker and vice president. Based in Ames & Gough’s McLean, Virginia, office, …

The article Ames & Gough Hires Bateson as Senior Broker in Virginia appeared first on Insurance Journal.

Dozens of Washington Medical Marijuana Dispensaries to Be Shuttered
- May 28, 2015, 3:38 pm

With Washington state overhauling its medical marijuana law, Seattle Mayor Ed Murray says the city is planning to shutter dozens of dispensaries. Murray this week announced plans to require a new special business license for marijuana establishments, akin to those …

The article Dozens of Washington Medical Marijuana Dispensaries to Be Shuttered appeared first on Insurance Journal.

2 California Men Nabbed for $1.4M Mobile Phone Insurance Scam
- May 28, 2015, 3:29 pm

Jason Kwon, 32, of Santa Fe Springs, Calif., and David Chang, 32, of Burbank face 41 felony counts of insurance fraud, grand theft and identity theft for allegedly submitting fraudulent claims totaling $1.3 million to obtain low cost replacement mobile …

The article 2 California Men Nabbed for $1.4M Mobile Phone Insurance Scam appeared first on Insurance Journal.

Single Engineer for Trains a Tough Sell Following Amtrak Crash
- May 28, 2015, 2:33 pm

The Amtrak crash that killed eight people this month raised questions of the safety of one-engineer trains, thwarting the idea of reducing freight crews for now, Union Pacific Corp. Chief Executive Officer Lance Fritz said. While cargo operators would save …

The article Single Engineer for Trains a Tough Sell Following Amtrak Crash appeared first on Insurance Journal.

Bad Attitude: Cynical Employees Earn Less Than Others
- May 28, 2015, 2:19 pm

Holding cynical beliefs about others may have a negative effect on one’s income, according to research published by the American Psychological Association. “While previous research has associated cynicism with detrimental outcomes across a wide range of spheres of life, including …

The article Bad Attitude: Cynical Employees Earn Less Than Others appeared first on Insurance Journal.

Uber and Lyft Fight Proposed NYC Rules – and Each Other
- May 28, 2015, 12:59 pm

Uber and Lyft are among the tech companies pushing back at proposed rules by New York City’s Taxi and Limousine Commission to regulate car service apps. Uber says the rules break federal law because taxi commissions don’t have the authority …

The article Uber and Lyft Fight Proposed NYC Rules – and Each Other appeared first on Insurance Journal.

Sirius XM to Face Class Action in Turtles Copyright Suit
- May 28, 2015, 12:23 pm

A U.S. judge in California allowed a class action lawsuit to proceed on Wednesday against satellite-radio company Sirius XM Holdings Inc over the payment of royalties for songs produced before 1972, in a case that is being closely watched for …

The article Sirius XM to Face Class Action in Turtles Copyright Suit appeared first on Insurance Journal.

Southwest Risk, LP is proud of the many new team members who joined the company in 2014 and January 2015: Catherine Butschek, Jackie Cavazos, Theresa Dworaczyk, Presten Ellsworth, Shannon Flowers, Mike Harris, Wade Kotrla, Kat Krasner, Holly May, Andrew Taylor, Ryan Taylor, Chad Thibodeaux and Wade Wrobel.

2015 is on target to be another exciting year of growth and expansion. We are ready start construction on a new Houston office and continue to actively recruit seasoned insurance professionals to join our winning team!