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Archive for the Insurance Industry News1 Category

N.Y. proposes ‘best interest’ rule for life insurance, annuity sales

N.Y. proposes ‘best interest’ rule for life insurance, annuity sales

Posted: December 29, 2017 New York’s financial regulatory agency proposed new regulations that would require those who sell life insurance and annuities to act in the best interest of their clients, raising standards even as the U.S. government delays its fiduciary rule. The New York Department of Financial […]

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Cash-strapped clients turn to banks to game Trump’s tax plan

Cash-strapped clients turn to banks to game Trump’s tax plan

Posted: December 28, 2017 Americans have a new reason to take on debt during the holidays this year: Early taxes. According to a report by Bloomberg, banks are seeing a wave of inquiries from customers in high-tax states rushing during the final days of the year to prepay […]

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AHT Seattle joins RiskProNet organization

AHT Seattle joins RiskProNet organization

Posted: December 27, 2017 The Seattle office of AHT Insurance, the Leesburg, Va.-based national independent insurance brokerage, has joined RiskProNet International, an association of independent insurance brokers in North America. According to a statement, AHT’s Seattle office has special expertise in high technology, working with emerging venture-funded companies […]

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Government-funding move extends NFIP until Jan. 19

Government-funding move extends NFIP until Jan. 19

The National Flood Insurance Program (NFIP) was extended as part of the Congressional continuing resolution designed to fund the federal government until Jan. 19, 2018. NFIP has been extended numerous times over the years and this year, and now remains in force until Jan. 19. By a […]

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Insurers dispatch private firefighters in California

Insurers dispatch private firefighters in California

Posted: December 22, 2017 Among the army of firefighters protecting neighborhoods at the front lines of Southern California’s monstrous wildfire are small teams hired by insurance companies to provide personalized prevention and protection for homeowners, according to a report in the Ventura County (Calif.) Star. Firms including American […]

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Hilb Group acquires Indiana agency

Hilb Group acquires Indiana agency

Posted: December 21, 2017 The Hilb Group, based in Richmond, Va., has acquired Insurance Trustees Inc. in Garrett, Indiana. Founded over 100 years ago, Insurance Trustees offers a wide range of property/casualty and employee benefits insurance products and services for businesses and individuals in the Indiana region. Mike […]

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Trends that will shape the insurance technology landscape in 2018

Trends that will shape the insurance technology landscape in 2018

Posted: December 21, 2017 Jamie Macgregor, an innovation analyst and senior vice president at Celent, takes a look at what 2018 may hold as technology expands within the insurance industry. Macgregor’s most-recent observations were published online at the Digital Insurance website: Opinion: Five trends that will influence the […]

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MacLean to retire as president of Travelers

MacLean to retire as president of Travelers

Brian MacLean, president and COO of The Travelers Companies, will retire from the company early next year, and upper management will see a realignment of its reporting structure. Travelers announced that MacLean will retire effective March 31, 2018, after 30 years with the company. As a result […]

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Insurance start-up gets $120 million backing from Japanese firm

Insurance start-up gets $120 million backing from Japanese firm

Posted: December 20, 2017 Lemonade, a technology-based company that launched last year as an insurance carrier to sell homeowners and renters insurance online in New York, has received an additional $120 million to fund global expansion. AI-based insurance tech company Lemonade has raised US$120 million in Series C […]

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Ringleader pleads guilty to $23 million auto insurance fraud scheme

Ringleader pleads guilty to $23 million auto insurance fraud scheme

Posted: December 20, 2017 One of the ringleaders of a massive $23 million auto insurance fraud pleaded guilty this week to his role in an elaborate crime ring that operated at several South Florida chiropractic clinics. Felix Filenger, who agents said drove around in a Bentley and doled […]

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