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Updated: 10 min 53 sec ago

Rains Good, Lighting Bad for Biggest Wildfire in Washington History

Tue, 07/22/2014 - 22:29

People afflicted by the massive Carlton Complex fires in north-central Washington may get some relief tonight and over the next few days in the form of wetter, cooler weather. But then again the system moving in may bring lighting, which …

The article Rains Good, Lighting Bad for Biggest Wildfire in Washington History appeared first on Insurance Journal.

Same Day, Different Court Obamacare Subsidies Upheld

Tue, 07/22/2014 - 18:40

Two U.S. appeals courts reached opposite conclusions on the legality of a key financing provision of the Affordable Care Act, increasing the chance of another showdown at the Supreme Court over President Barack Obama’s signature healthcare law. In majority ruling …

The article Same Day, Different Court Obamacare Subsidies Upheld appeared first on Insurance Journal.

Apollo’s Life Insurance Unit Athene Holding Said to Be Examined for Caesars Link

Tue, 07/22/2014 - 16:54

Apollo Global Management LLC’s dual stakes in an insurer and the largest operator of U.S. casinos are drawing scrutiny by New York’s top financial regulator, who doesn’t want policyholders exposed to the gambling firm’s debt, a person briefed on the …

The article Apollo’s Life Insurance Unit Athene Holding Said to Be Examined for Caesars Link appeared first on Insurance Journal.

Fired Oregon Police Chief Sues City Over Military Service

Tue, 07/22/2014 - 16:27

The recently fired police chief of a central Oregon town says he was undone by an ambitious deputy who had eyes for his job and a city government that resented the leave he took for military service. Former Prineville Police …

The article Fired Oregon Police Chief Sues City Over Military Service appeared first on Insurance Journal.

Alabama’s Volunteer Fire Departments Not Alone in Recruiting Struggles

Tue, 07/22/2014 - 16:17

They’re often the first ones on the scene of major emergencies, but their numbers appear to be dwindling. Volunteer firefighters help communities in ways both obvious — fighting fires—  and overlooked — improving communities’ home insurance rates through ISO ratings. …

The article Alabama’s Volunteer Fire Departments Not Alone in Recruiting Struggles appeared first on Insurance Journal.

Florida Frets That With Proposed Rate Cut, Citizens Could Be Too Competitive

Tue, 07/22/2014 - 16:09

Florida’s state-backed property insurer’s proposed rate reduction is raising questions about whether it will make the insurer competitive with the private market. Citizens Property Insurance Corp. recently proposed 2015 rates that include a statewide average 2.9 percent rate decrease on …

The article Florida Frets That With Proposed Rate Cut, Citizens Could Be Too Competitive appeared first on Insurance Journal.

Travelers Posts $683M Q2 Profit, Misses Estimates as Catastrophe Losses Rise

Tue, 07/22/2014 - 16:01

Property and casualty insurer Travelers Cos. Inc.’s quarterly earnings fell short of analysts’ estimates as hail and wind storms in the United States increased catastrophe losses. The company, a Dow Jones Industrial Average component, said net income fell to $683 …

The article Travelers Posts $683M Q2 Profit, Misses Estimates as Catastrophe Losses Rise appeared first on Insurance Journal.

Court Orders Travelers to Pay $500M in Johns-Manville Asbestos Claims

Tue, 07/22/2014 - 15:57

A federal appeals court on Tuesday ordered Travelers Cos. Inc. to pay more than $500 million to satisfy asbestos-related claims stemming from the insurer’s coverage of insulation maker Johns-Manville Corp., a policyholder that spent six years in bankruptcy during the …

The article Court Orders Travelers to Pay $500M in Johns-Manville Asbestos Claims appeared first on Insurance Journal.

Donegal Group’s Q2 Profit Declines 26% to $1.9M

Tue, 07/22/2014 - 15:19

Donegal Group Inc. in Marietta, Pennsylvania, today reported $1.94 million net income for its 2014 second quarter, a decline of 26 percent from $2.63 million net income posted during the 2013 second quarter. The insurer said its second quarter earnings …

The article Donegal Group’s Q2 Profit Declines 26% to $1.9M appeared first on Insurance Journal.

Court Rules Against Obamacare Subsidies for Federal Exchange Insureds

Tue, 07/22/2014 - 14:58

President Barack Obama’s healthcare overhaul suffered a potentially crippling blow as a U.S. appeals court ruled the government can’t give financial assistance to anyone buying coverage on the insurance marketplace run by federal authorities. The decision, if it withstands appeals, …

The article Court Rules Against Obamacare Subsidies for Federal Exchange Insureds appeared first on Insurance Journal.

Train Crash in Wisconsin Injures 2, Spills Oil

Tue, 07/22/2014 - 14:42

A Canadian National Railway Co. train struck another freight train as it rolled through a small village in Wisconsin, causing cars to derail, injuring two people and spilling thousands of gallons of diesel oil that prompted the evacuation of dozens …

The article Train Crash in Wisconsin Injures 2, Spills Oil appeared first on Insurance Journal.

Improvements to Lafourche, Louisiana Levee System Underway

Tue, 07/22/2014 - 14:36

The South Lafourche Levee District in Louisiana plans to finish raising the levees protecting Larose to Golden Meadow in the coming year. The district began raising the system’s levees to 16 feet in the more vulnerable southern sections and 13 …

The article Improvements to Lafourche, Louisiana Levee System Underway appeared first on Insurance Journal.

CGS&C’s New MGA Targets U.S. Healthcare Industry with Lloyd’s

Tue, 07/22/2014 - 13:19

Wholesale insurance broker Cooper Gay Swett & Crawford (CGSC) has launched an underwriting management agency specializing in the healthcare industry. The new venture, Pro-Praxis Insurance, will be led by Robert Allen who has 25 years of experience in the industry, …

The article CGS&C’s New MGA Targets U.S. Healthcare Industry with Lloyd’s appeared first on Insurance Journal.

Hanover Offers Insurance Advice for Parents Sending Kids to College

Tue, 07/22/2014 - 12:47

The Hanover Insurance Group advises that as new high school graduates get ready to head off to college, parents would be wise to prepare for potential risks and liabilities, and to consider the insurance implications. “Be proud of your child’s …

The article Hanover Offers Insurance Advice for Parents Sending Kids to College appeared first on Insurance Journal.

After Ordeal, N.J. Legislator Pushes for Video Cameras in New Police Cars

Tue, 07/22/2014 - 12:46

For New Jersey Assemblyman Paul Moriarty, putting video cameras in new police cars became personal two years ago when he was arrested for drunken driving and video from a camera mounted on a cruiser helped get the charges dropped and …

The article After Ordeal, N.J. Legislator Pushes for Video Cameras in New Police Cars appeared first on Insurance Journal.

Will BNP Deal Expand Whistleblower Protections in Banking, Insurance?

Tue, 07/22/2014 - 12:32

BNP Paribas SA’s $9 billion settlement with U.S. authorities, aided by internal whistleblowers, has spurred calls for federal banking regulators to protect and reward individuals who report wrongdoing by banks. The U.S. Securities and Exchange Commission has scored big enforcement …

The article Will BNP Deal Expand Whistleblower Protections in Banking, Insurance? appeared first on Insurance Journal.

Johns Hopkins Health System to Pay $190M to Settle Hidden Camera Lawsuit

Tue, 07/22/2014 - 11:22

Johns Hopkins Health System will pay $190 million to settle a lawsuit on behalf of at least 8,500 women whose pelvic exams were secretly recorded by a gynecologist who later committed suicide. The Baltimore hospital said the settlement will be …

The article Johns Hopkins Health System to Pay $190M to Settle Hidden Camera Lawsuit appeared first on Insurance Journal.

XL Group Launches Cyber Liability Coverage in Brazil

Tue, 07/22/2014 - 10:36

After last month’s launch of its cyber liability including professional indemnity coverage for technology companies, XL Group has announced “the launch of a second, more general cyber risks insurance solution serving mid- and large-sized companies across a broad range of …

The article XL Group Launches Cyber Liability Coverage in Brazil appeared first on Insurance Journal.

NHC Tracking Tropical Depression Two

Tue, 07/22/2014 - 10:31

The National Hurricane Center in Miami is tracking a low intensity disturbance in the Atlantic, topical depression two. It is currently about 1025 miles (1645 km) east of the Lesser Antilles with maximum sustained winds of 35 mph (55 km/h), …

The article NHC Tracking Tropical Depression Two appeared first on Insurance Journal.

Rep. Hensarling Blasts Export-Import Bank As ‘Special Privilege’

Tue, 07/22/2014 - 10:30

A Republican House committee chairman scolded Boeing Co. and a large U.S. trade group on Monday for lobbying to keep the Export-Import Bank alive, saying their efforts amounted to petitioning for “special privilege.” Rep. Jeb Hensarling wrote a scathing letter …

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