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Archive for the Insurance Industry News1 Category

AIA proposes regulation waiver for ‘innovative’ products, technology

AIA proposes regulation waiver for ‘innovative’ products, technology

Posted: December 12, 2017 The American Insurance Association (AIA) unveiled new model legislation to state insurance commissioners that would relieve some regulatory hurdles for insurers that want to test new products and technologies. AIA presented its proposal to the National Association of Insurance Commissioners (NAIC) Innovation and Technology […]

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Collins’ strategy to stabilize Obamacare raises doubts

Collins’ strategy to stabilize Obamacare raises doubts

Sen. Susan Collins (R-Maine), whose vote was pivotal in pushing the GOP tax bill forward last week, thought she had a deal to bolster health care protections in exchange for her support. But it’s now far from clear that her strategy to shore up part of the […]

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Brokers tout mix-and-match coverage to avoid high Obamacare rates

Brokers tout mix-and-match coverage to avoid high Obamacare rates

As the Affordable Care Act open-enrollment season moves into its final weeks, some consumers looking for lower-cost alternatives turn to brokers and consider a patchwork approach to health insurance. The products may secure some basic protection but leave patients on the hook for high medical bills. The […]

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Maryland case could open door for more asbestos claims

Maryland case could open door for more asbestos claims

Posted: December 7, 2017 A legal ruling that is being challenged in the Maryland Court of Appeals in Annapolis could open the door for more asbestos claims in the state. Maryland law allows for a 20-year deadline for workers or their families to make claims of illness or death […]

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Report: Some N.J. insurance brokers reap public funds without disclosure

Report: Some N.J. insurance brokers reap public funds without disclosure

Posted: December 7, 2017 One of the biggest goldmines for contractors in New Jersey is selling insurance plans to public entities, which employ hundreds of thousands of workers across the state. But a review of dozens of public documents by The Commercial Observer shows that in some cases, […]

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Jayne Schiff inducted in American College Alumni Hall of Fame

Jayne Schiff inducted in American College Alumni Hall of Fame

Posted: December 7, 2017 Jayne Nemerow Schiff, a Philadelphia-area independent life insurance agent, was inducted into The American College of Financial Services Alumni Hall of Fame in recognition of her exceptional professionalism and dedication to The College and its educational mission. Schiff was the first woman to serve […]

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Cook Maran acquires Staten Island benefits agency

Cook Maran acquires Staten Island benefits agency

Posted: December 5, 2017 Cook Maran & Associates, a large insurance broker serving New York and New Jersey, has acquired McDermott & Thomas Associates, an employee benefits agency based on New York’s Staten Island. Melville, N.Y.-based Cook Maran is the New York metropolitan area platform for Prime Risk […]

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USI completes takeover of Wells Fargo Insurance Services

USI completes takeover of Wells Fargo Insurance Services

USI Insurance Services has closed its previously announced acquisition of Wells Fargo Insurance Services USA (WFIS) from banking giant Wells Fargo & Co. This purchase includes the commercial insurance brokerage and consulting, employee benefits and property/casualty insurance national practices of WFIS, along with its Safehold Special Risk, […]

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New York personnel and company announcements: Nov. 30, 2017

New York personnel and company announcements: Nov. 30, 2017

At the New York Insurance Association in Syracuse, N.Y., Javier Tapia was named Director of Government Affairs, and Cassandra Anderson was named Vice President, working on marketing and public relations efforts. Peter Buccinna was named Assistant Vice President, Business Development Manager at XS Brokers, serving the New […]

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Judge blocks Pennsylvania’s demand for $200 million from insurer

Judge blocks Pennsylvania’s demand for $200 million from insurer

Posted: November 30, 2017 Pennsylvania’s cash-strapped state government, led by Gov. Tom Wolfe, has lost round one in its effort to shut down a state-created medical malpractice insurer of last resort if it does not hand over $200 million in reserves by Dec. 1. U.S. District Judge Christopher […]

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