Insurance Journal


The latest articles and news from Insurance Journal

  • Disaster Designation Issued For 11 Alabama Counties August 21, 2017 4:23 am
    Eleven Alabama counties are under a natural disaster designation after excessive rainfall and flooding from Tropical Storm Cindy. The conditions caused extensive damage to crops, sparking Gov. Kay Ivey to ask for federal assistance for Alabama farmers in June. U.S. …
  • Semi-Truck Crashes Prompt Review of Kentucky Interstate August 21, 2017 4:17 am
    A series of accidents involving semi-trucks on the interstate has prompted a review from the Kentucky Transportation Cabinet. The Courier-Journal reports the agency will review ramps and roadways following accidents in Louisville’s Spaghetti Junction. Kentucky Transportation Cabinet spokeswoman Andrea Clifford …
  • Anti-Price Gouging Act Effective in 4 Oklahoma Counties August 21, 2017 4:00 am
    Oklahoma Attorney General Mike Hunter enacted the Emergency Price Stabilization Act in Mayes, Rogers, Tulsa and Wagoner counties after Gov. Mary Fallin declared a state of emergency following a tornado outbreak on the weekend of Aug. 4 and 5. The …
  • Tailor Your Talent Brand to Fit Today’s Candidates August 21, 2017 12:00 am
    Outdated, behind-the-times, old-fashioned and boring — all of these terms have been used to describe the insurance industry at one point in time. It’s clear that the industry has an image problem. But what about your organization? Does your company’s …
  • 101 Sales, Marketing & Agency Management Ideas August 21, 2017 12:00 am
    1. Dare to Break the Mold. We tend to hit a sweet spot of what works for us in agency management and stay there, focusing on the “sexier” sales side of the business. It’s fine to keep what works, but …
  • Insurance Fraud Following Catastrophes an Unwelcome Trend, Oklahoma’s Doak Tells U.S. Senators August 21, 2017 12:00 am
    By Stephanie K. Jones In testimony on Capitol Hill in early August, Oklahoma Insurance Commissioner John Doak told federal lawmakers that fraud across all lines of insurance costs the industry an estimated $80 million to $100 million annually. Testifying on …
  • Former Texas Insurance Agent Sentenced to 5 Years in Prison for Fraud August 21, 2017 12:00 am
    A former Texas insurance agent has been sentenced to five years in prison for insurance and identity theft fraud, according to state insurance regulators. Dermaine Clark of San Antonio also was ordered to pay more than $45,000 for a string …
  • People – South Central August 21, 2017 12:00 am
    The Independent Insurance Agents of Texas (IIAT) elected Rick Dudney of TCOR Management in New Braunfels to serve as chairman for 2017-2018 during IIAT’s 120th Annual Conference and Trade Show in Fort Worth. Dudney entered the insurance business in 1997 …
  • Minding Your Business: The Tale of Two Values August 21, 2017 12:00 am
    It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…” This opening line in Charles Dickens novel “A Tale of Two Cities” summarizes the contradictions and …
  • TVA Coal Ash Ruling August 21, 2017 12:00 am
    “While the decision to build the Ash Pond Complex is in the past, the consequences of that decision continue today, and it now falls on the Court to address them.” — U.S. District Judge Waverly Crenshaw in Nashville, in a …
  • 21 States See Drop in Longer-Term Opioid-Related Workers’ Comp Claims: WCRI August 21, 2017 12:00 am
    As states institute opioid policies to address the opioid epidemic, a new study has found considerable decreases in the prevalence of longer-term dispensing of opioids to injured workers in a number of states studied. The frequency of claims that received …
  • M&A Activity Outpacing Prior Years: MarshBerry August 21, 2017 12:00 am
    Merger and acquisition (M&A) activity continued strong through the second quarter of 2017. The year to date announced deal count is 239 through June 30 (compaared to 222 for the same period last year). The number of buyers closing on …
  • MyNewMarkets August 21, 2017 12:00 am
    Excess / Umbrella Professional Liability for Behavioral Healthcare, Addiction & Social Services Org’s Market Detail: Excess/umbrella coverage from Negley Associates (www.jjnegley.com) follows form over professional and general liability, directors & officers/employment practices liability, auto liability and employers liability. Coverage is …
  • The Smaller the Small Business, the Bigger the Insurance Discontent: J.D. Power August 21, 2017 12:00 am
    Not all small businesses are the same when it comes to customer satisfaction with commercial insurance. There are widening satisfaction gaps among small businesses of different sizes, according to the J.D. Power 2017 U.S. Small Commercial Insurance Study. The study …
  • High Net Worth Insurance Needs More Specialists August 21, 2017 12:00 am
    The high net worth (HNW) specialty insurance market is a lucrative and developing segment of the insurance industry. According to the U.S. Census Bureau, 25 percent of Americans hold 74 percent of the country’s wealth, and this number is rising. …
  • Business Moves August 21, 2017 12:00 am
    Morse Insurance Agency Inc., Quaglia Insurance Morse Insurance Agency Inc. has acquired Quaglia Insurance in Attleboro, Mass. As part of the transition, Quaglia’s Attleboro office will be closing. However, Stacy Quaglia, daughter of Quaglia Insurance Owner Larry Quaglia, will join …
  • What About the Introverts? August 21, 2017 12:00 am
    In the world of sales and marketing, introverts are not usually the top performers. Introverts make up roughly one-third to one-half of the average company’s leadership and staff yet their contributions often go unnoticed in favor of easy-going extroverts. The …
  • Swiss Re: Miami Is More Vulnerable to Hurricanes Like Andrew August 21, 2017 12:00 am
    By Jennifer Kay Almost 25 years have passed since a Category 5 hurricane struck south of Miami, and the city’s vulnerability to catastrophic storm damage has grown exponentially, according to a new insurance underwriters’ analysis. At the time, Hurricane Andrew …
  • Mississippi Insurance Head, Lawmaker Urge Development of Private Flood Market August 21, 2017 12:00 am
    By Jeff Amy Mississippi’s top insurance regulator and its only Democratic congressman are both ready to cede some of the federal flood insurance market to private insurers. Both Republican Insurance Commissioner Mike Chaney and U.S. Rep. Bennie Thompson say they’re …
  • Georgia Insurance Commissioner Hudgens Announces He Will Not Seek Re-Election In 2018 August 21, 2017 12:00 am
    By Amy O’Connor Georgia Insurance Commissioner Ralph Hudgens will not seek re-election for a third term as Georgia’s Insurance and Safety Fire Commissioner, according to a statement from the Georgia Department of Insurance. In a letter to Georgians, Hudgens announced …
  • People – Southeast August 21, 2017 12:00 am
    1347 Property Insurance Holdings Inc., a property and casualty insurance holding company based in Tampa, Fla., has appointed Dan Case to the position of chief operating officer. Case will be responsible for strategies and activities relating to profitable growth for …
  • Allstate To Create 2,250 Jobs With North Carolina Expansion August 21, 2017 12:00 am
    Allstate Insurance Co. plans to more than double its North Carolina workforce by expanding in the Charlotte area, creating 2,250 new jobs by 2020. Gov. Roy Cooper and leaders of the nation’s largest publicly-traded personal insurance company announced the expansion …
  • Beacon Mutual’s New CEO Spero: ‘We’re Within an Hour of Every Policyholder’ August 21, 2017 12:00 am
    By Elizabeth Blosfield The board of directors of Beacon Mutual Insurance Company, a Warwick, R.I.-based workers’ compensation carrier, has elected Brian Spero as president and CEO of the company, effective in July. Beacon’s board worked with a national consulting firm, …
  • Pennsylvania Commissioner Miller: Individual Market Instability Will Raise Costs August 21, 2017 12:00 am
    Pennsylvania Insurance Commissioner Teresa Miller issued a letter to federal Department of Health and Human Services Secretary Tom Price detailing the urgent need for stability in the individual health insurance market as health insurers prepare to finalize rates for 2018 …
  • Residents Allowed Home After Pennsylvania Derailment August 21, 2017 12:00 am
    Residents were allowed to return to the homes they were forced to leave after a train derailment and resulting fires in their small Pennsylvania town occurred August 2, authorities said. Tests on air quality led the railroad CSX, an incident …
  • Delaware Governor Carney Signs Insurance Consumer Fairness Bill August 21, 2017 12:00 am
    On Tuesday, Aug. 1, 2017, Delaware Governor John Carney signed into law House Substitute 1 for House Bill 80 (HS 1 for HB 80), a consumer fairness bill that targets unfair discriminatory practices by automobile and homeowners insurance companies to …
  • Lemonade Launches in New Jersey, Marks Fourth State in National Expansion August 21, 2017 12:00 am
    Lemonade, the insurance company powered by artificial intelligence and behavioral economics, is now available throughout New Jersey, marking the fourth state in its nationwide expansion strategy. Residents of New Jersey can now buy homeowners and renters insurance at lemonade.com or …
  • California Commissioner Launches Investigation into Wells Fargo August 21, 2017 12:00 am
    California Commissioner Dave Jones has ordered an investigation into recent allegations that Wells Fargo and National General Insurance improperly charged consumers for “force-placed” auto insurance for consumers who had auto loans with Wells Fargo. Wells Fargo in a July news …
  • Is Colorado’s Pet Sitting Law Another Insurance Quagmire Waiting to Unfold? August 21, 2017 12:00 am
    By Don Jergler If it barks like a dog… A new Colorado law that enables people to sit up to three pets without needing a license looks pretty much like just another piece of the growing gig economy. People can …
  • South Dakota ‘Pink Slime’ Defamation Suit Cost ABC Network $177M August 21, 2017 12:00 am
    Walt Disney Co. paid $177 million, in addition to insurance recoveries, to settle the closely watched “pink slime” defamation case against its ABC network by South Dakota-based Beef Products Inc. (BPI), a quarterly financial report shows. Privately-held BPI sued American …