Interactive broker sessions enhance placement process in Singapore

Lloyd’s Asia Pacific regional hub is trialling Open Trading Sessions in Singapore, allowing brokers to interact directly on site with Lloyd’s underwriters
Source: Lloyds

Smooth sailing in Inland Marine

Increased competition has pressured rates, but the right expertise pays dividends.
Source: Property Casualty 360

Crime-free program can turn around housing communities with insurance woes

When violence in an apartment community rise, the property is perceived as a place where criminals live and its value, income and insurability are all impacted.
Source: Property Casualty 360

Europe’s Banks Increased Infrastructure Investments Erodes Insurers’ Returns

The return of banks into the European infrastructure market is denting insurers’ ability to enhance their investment returns by funding the roads, bridges and wind farms of tomorrow. European politicians have encouraged insurers to channel more of their €10 trillion …
Source: Insurance Journal

S&P Revises Outlook on Global Multiline Insurer XLIT to Positive; Affirms Ratings

Standard & Poor’s Ratings Services has revised its outlook on the global multiline insurer XLIT Ltd. and its operating companies (collectively XL) to positive from stable. S&P has also affirmed its ‘A-‘ issuer credit and senior debt ratings on XLIT …
Source: Insurance Journal

Ratings of Cincinnati Specialty Underwriters Insurance Co. Upgraded

A.M. Best has upgraded the financial strength rating (FSR) to A+ (Superior) from A (Excellent) and the issuer credit rating (ICR) to “aa-” from “a” of The Cincinnati Specialty Underwriters Insurance Company (CSU). The outlook for the ICR is revised to stable from positive …
Source: Insurance Journal

Wisconsin Fire Outlook Towers Being Taken Out of Commission

Dozens of towers built mainly in the 1930s and 1940s for spotting forest fires in Wisconsin are being taken out of commission. The cost to maintain, repair or replace the 72 towers currently used throughout the state no longer makes …
Source: Insurance Journal

Cross Insurance Acquires Knapp Schenck & Company in Boston

Cross Insurance, an independent insurance agency based in Bangor, Maine, with more than 35 offices in the Northeast, announced the purchase of Boston-based independent agency Knapp Schenck & Company. Terms of the transaction were not disclosed. Knapp Schenck & Company …
Source: Insurance Journal

N.J. Legislators Approve Bill Preventing Foreclosures for Sandy Victims

A bill heading to New Jersey Gov. Chris Christie’s desk would prevent mortgage foreclosure for New Jersey homeowners whose houses were damaged by Superstorm Sandy. The bill, which passed the Legislature on Dec. 17, would prevent foreclosures for up to …
Source: Insurance Journal

Lyft plans to raise up to $1 billion in new funds

Analysts say move could boost valuation of rival ride-hailing company Uber.
Source: Property Casualty 360

Sandy Claims Review Has Processed Just 1 In 6 Cases

Just 1 in 6 cases in the Sandy Review process have been decided¸ despite assurances that victims of superstorm Sandy wouldn’t be subjected to another drawn-out struggle over flood insurance. More than 200 days have passed since FEMA debuted a system by which superstorm Sandy victims who thought they were shortchanged by their flood insurer could receive additional money. A total of 18¸540 policyholders across the Sandy-affected region signed up. The agency’s top brass promised that the process would take no more than 90 days to generate an answer and a check¸ if one was warranted.
Source: The Claims Page – USA

China landslide may have started from construction-waste site

A landslide in southern China may have been caused by a man-made pile of earth and construction debris, leading to new concerns about construction safety.
Source: Property Casualty 360

FBI Agents Raid Multiple Twin Cities Chiropractic Offices

Federal agents searched more than a half-dozen Twin Cities chiropractic offices Tuesday but declined to say why¸ noting that the search warrants remain under seal. Agents with the FBI were searching between six and 10 office locations¸ according to FBI spokesman Kyle Loven. He said the offices were involved in “coordinated operations” but he declined to say more until the search warrants are unsealed. The Minnesota Department of Commerce fraud bureau is working with the FBI on the case.
Source: The Page – USA

Firefighters Sue Siren Maker Over Hearing Loss

There were times by the end of his shift that firefighter Joseph Nardone’s head would be pounding¸ his eyes crossing from the noise of the siren on his truck. “The siren was so loud inside the cab that it actually physically hurt¸” said the former New York City fire battalion chief. Even though he’s been retired for over a decade¸ he said¸ the effects of the sirens linger in hearing loss that has left him unable to understand rapid conversation or follow along in church.
Source: The Page – USA

A Look at the Highest Paid U.S. Corporate Director Posts

  Outsize pay for chief executive officers has been a bone of contention among shareholder activists for years. What’s less known is that the directors on board-compensation committees — the very people who decide to give out those large CEO …
Source: Insurance Journal

Florida lawmaker offers bill to end no-fault Auto insurance

Florida drivers pay the nation’s fourth-highest car insurance premiums, and the state is one of a handful with a no-fault system.
Source: Property Casualty 360

Legislator Attempting To End Florida’s Broken No-Fault System

After almost half a century¸ Florida’s no-fault car insurance system would end by 2019 under a bill filed by state Sen. Jeff Brandes¸ R-St. Petersburg. That’s potentially fantastic news to consumers like Loren Egley of Delray Beach¸ who say it’s like “double taxation” when the the state forces them to buy Personal Injury Protection (PIP) medical coverage for car accidents though they already have health insurance such as Medicare.Florida drivers pay the nation’s fourth highest car insurance premiums. The state is one of a handful with a no-fault system.
Source: The Page – USA

5 Lost In Small Plane Crash In Bakersfield¸ California

Five people are dead following a small plane crash in Bakersfield¸ California. “The aircraft is in a debris field … in an almond orchard¸ so it’s going to take a lot of footwork to conduct the investigation¸” said Sgt. Mark King with the Kern County Sheriff’s Office. “We do not expect to have positive identification of the passengers until Monday¸” he said. The Federal Aviation Administration and the National Transportation Safety Board arrived at the scene of the crash Sunday morning to begin an investigation into the cause of the accident.
Source: The Page – USA

Collision Leaves SUV Driver Dead¸ 16 Injured On Greyhound Bus

One person in an SUV was killed¸ another was flown to hospital and 16 Greyhound bus passengers were injured Sunday in a crash in Arlington¸ Texas¸ officials said. The bus was en route from Dallas to Amarillo when the collision occurred on the westbound I-30 at 5:35 a.m. local time (6:35 a.m. ET)¸ Greyhound spokeswoman Lanesha Gipson told NBC News. Forty passengers were on board¸ plus the driver¸ she said – adding that all the injuries seemed to be minor. The critically-injured person¸ who was in the SUV¸ was flown by helicopter to a local trauma center.
Source: The Page – USA

Driver Intentionally Runs Into Pedestrians On Las Vegas Strip

A woman with a toddler in her car repeatedly plowed into pedestrians on the crowded Las Vegas strip¸ killing one person and injuring at least 26 others in what police say may have been an intentional assault. Las Vegas Deputy Police Chief Brett Zimmerman said the incident was “not an act of terrorism” but appeared to be intentional. He said homicide units were investigating.Flashing ambulance lights overtook the glitz of the famous Strip after the deadly incident¸ which took place near the hotel where the Miss Universe pageant was ending.
Source: The Page – USA