Automated Safety Systems Are Preventing Car Crashes, Study Says

Grange Insurance has launched a new 36- month commercial insurance package policy, helping select businesses spend less time focused on renewing their insurance each year and more time focused on what matters most— running and growing their businesses. “As part of our commitment to independent agents and growing their commercial business, Grange is making…

MICHIGAN- On August 2, President Trump approved a major disaster declaration for Michigan, which makes federal disaster funding available to the areas harmed by severe storms and flooding from June 22 to June 27. The Federal Emergency Management Agency announced the availability of assistance, which will aid Bay, Gladwin, Isabella and Midland Counties and the…

Aug. 22– A new front has opened in the ongoing battle between repair contractors and the insurance industry, and this time ground zero isn’t South Florida. In 2016, that number had swelled to 19,695. Most of those suits were filed in the Tampa- St. Petersburg region, but the numbers are increasing in Broward, Palm Beach and Miami-Dade counties. South Florida…

Yesterday, President Donald J. Trump declared that a major disaster exists in the State of Vermont and ordered Federal assistance to supplement State and local recovery efforts in the areas affected by severe storms and flooding from June 29 to July 1, 2017. Federal funding is available to the State and to eligible local governments and certain private…

Aug. 17– Keith Butler is in the business of preparing for disasters, but he was not prepared for what he saw on Aug. 19, 2007. A freight train derailed just south of La Crosse, fueling fears of a hazardous waste spill. Across the river in Minnesota, the situation was even more grim: seven people died and communities were washed away by the floodwaters.

Find your own repair contractor and figure out a way to stretch a reimbursement payment capped at $10,000. State Insurance Commissioner David Altmaier informed the Florida Cabinet on Wednesday that he expects private-market insurers will want to copy the $10,000 limit as well as newly approved requirements for water-damage repair contractors working…

Aug. 16– PLATTSBURGH– A Port Kent native is accused of faking a high-profile plane crash to get the insurance money, along with similar schemes involving another aircraft, a Lamborghini Gallardo and a boat. Theodore R. Wright III, 32, who now lives in Texas and Nevada; and co-conspirators Raymond Fosdick, 41, of Texas and South Carolina; Shane Gordon, 45, of Texas; and…

The company has made a commitment to invest more than $100 M of venture capital in customer-centric solutions that help members:. In addition to these efforts, Nationwide launched Nationwide Ventures in early 2016 to invest in startup companies that are transforming the insurance and financial services industry. Nationwide Ventures has made six…

Citizens unveiled its proposed rate increases in June, and like the last two years, want policyholders in Broward, Palm Beach and Miami-Dade counties to bear the burden for claims abuses the company blames on water restoration contractors and their attorneys in the region. Single-family homeowners in Broward would see their annual premium increase 10.4…

The incident illustrates what many law enforcement agencies say is an increasing problem in Michigan– wheel and tire theft. “a lot of variables,” including how experienced the thieves are, Michigan State Police First Lt. Officials from at least 30 different law enforcement agencies met two weeks ago at State Police headquarters in Lansing to discuss wheel and…

That’s assuming Congress does not show more urgency to reauthorize the National Flood Insurance Program before it expires on Sept. 30. Those in the insurance and real estate industry are cautiously optimistic the program will be reauthorized in something close to its current form, but with Congress currently in recess and with its recent struggles to agree…

The ringleader in one of the Sacramento area’s largest auto insurance fraud cases was recently sentenced to 10 years in state prison, and detectives are asking the public’s help in finding three suspects who remain at large. A criminal ring led by 30- year-old Michael Charles Young of Sacramento filed an estimated $500,000 in claims with insurance companies…

Aug. 14– DEERFIELD BEACH– If you have bad credit and buy homeowner’s insurance from People’s Trust Insurance Co., plan on paying more. Unless the plan is rejected, People’s Trust will begin levying surcharges on customers who have fallen behind or stopped paying bills unrelated to their insurance policies while giving discounts to customers who pay their bills…

A spokesman for the Northbrook- based insurer said those cuts were nationwide but declined to comment on specifics, including when the layoffs would be completed. The company’s QuickFoto Claim feature, which lets customers snap photos of damage after accidents and start the claims process, is becoming a dominant method for inspection, Allstate President…

Ike Brannon, a visiting fellow at the Cato Institute, and Ari Blask, a former research assistant at Cato’s Center for Monetary and Financial Alternatives, pointed out that NFIP’s main problem is that it “doesn’t really function like private insurance.” Congress attempted to reform NFIP in 2014, but the effort fell apart. The impending overhaul’s outcome is…

President Donald Trump has declared a disaster in New Hampshire due to severe thunderstorms and flash flooding that struck the state more than a month ago in Grafton County. The weather event caused severe damage to hundreds of miles of roads, as well as bridges and culverts, New Hampshire Gov. The declaration follows some tension between Trump and the state,…

The insurance company has agreed to pay $5.5 million and take other steps to protect customers’ identity as part of a settlement with New Jersey and 31 other states, officials said Wednesday. The move resolves allegations that the company left out a critical security patch that could have prevented a security breach in October 2012 that resulted in the loss of…

—Massachusetts officials promised a crackdown Thursday on marijuana-impaired driving as the state prepared for full implementation of the voter-approved law legalizing adult use of recreational pot. Arthur Kinsman, regional administrator for the National Highway Traffic Safety Administration, said the goal isn’t to “demonize” marijuana use, but change…

At the time, Hurricane Andrew was the most expensive natural disaster in U.S. history, causing more than $26 billion of damage in Florida’s most populous areas, including $15.5 billion in insurance payouts. “Our concerns lie with the fact that even though we’ve made good changes, 25 years later you have a much larger population living in Florida, and people forget…

A draft government report on climate says the U.S. is already experiencing the consequences of global warming. The findings sharply contrast with statements by President Trump and some members of his Cabinet, who have sought to downplay the changing climate. In the U.S., the report says the largest temperature increases have taken place in the West.

TALLAHASSEE- The insurance industry and plaintiffs’ attorneys are trying to help sway the Florida Supreme Court in a potentially high-stakes case stemming from a fatal auto accident in 2006 in Palm Beach County. Insurance-industry groups and the Florida Justice Association, which represents plaintiffs’ attorneys, have filed dueling briefs in recent weeks…

Today, President Donald J. Trump declared that a major disaster exists in the State of Oregon and ordered Federal assistance to supplement State, tribal, and local recovery efforts in the areas affected by severe winter storms, flooding, landslides, and mudslides from January 7 to January 10, 2017. Federal funding is available to State, tribal, and eligible local…

Bennie Thompson say they’re open to proposals being considered in Congress that would make it possible for private insurers to enter the market in a big way. Almost two-thirds of the policies are in the state’s three Gulf Coast counties, but there are also significant concentrations in Jackson and Greenville. But last time the law was up there were 18 separate…

_ State Auto Financial Corp. on Tuesday reported second-quarter net income of $8.7 million, after reporting a loss in the same period a year earlier. State Auto Financial shares have dropped roughly 8 percent since the beginning of the year. Keywords: State Auto Financial, Earnings Report.

As teens get ready to head back to school this fall, a new study finds that older teen drivers are overconfident and perceive themselves as safer drivers despite experiencing more accidents and near misses than their younger peers

Aug. 03– Hanover Insurance Group Inc. will lay off about 3 percent of its workforce– 160 positions– the Worcester- based company announced this week. Of the positions, about 80 will be cut in Central Massachusetts. The company reported net income of $78.4 million in the three month period ending June 30 as compared to $2 million the quarter before, after paying off a…

According to multiple sources, including the Insurance Information Institute and Insurance Institute for Highway Safety, summer is one of the deadliest and most dangerous periods on America’s roadways. “Statistics show that serious and often fatal crashes occur during the summer months,” said Michael Barry, spokesman for the Insurance Information…

People who don’t buckle up when they ride in the rear seat because they think it’s safer back there are wrong.

Today, President Donald J. Trump declared that a major disaster exists in the State of Michigan and ordered Federal assistance to supplement State, tribal, and local recovery efforts in the areas affected by severe storms and flooding from June 22 to June 27, 2017. The President’s action makes Federal funding available to affected individuals in the counties…

_ Safety Insurance Group Inc. on Wednesday reported second-quarter profit of $21.1 million. Safety Insurance shares have decreased slightly more than 4 percent since the beginning of the year. Keywords: Safety Insurance, Earnings Report.

Kemper Corporation announced today that its Board of Directors declared a quarterly dividend of $0.24 per share. The dividend is payable on August 28, 2017 to its shareholders of record as of August 14, 2017. Kemper Corporation Investors: Todd Barton 312.661. 4930 [email protected]

Aug. 02– Two private-market insurance companies have been approved to “take out” up to 50,000 residential policies from state-run Citizens Property Insurance Corp.. Safepoint Insurance Co. and Southern Oak Insurance Co. were approved by the state Office of Insurance Regulation to transfer the policies beginning Oct. 17, the office said in a news release…

The Acting U.S. Attorney for the District of Maryland, Stephen M. Schenning, issued the following news release:. District Judge George L. Russell sentenced Glenn R. Fischer, age 70, of Ellicott City, Maryland, to four years in prison, followed by three years of supervised release, for wire fraud and aggravated identity theft arising from a scheme to defraud businesses…

PENINSULA— Don’ t worry, drivers in Washington can still dine behind the wheel or drink coffee to get their caffeine fix without running into trouble with the law, at least most of the time. The state’ s new distracted-driving law took effect on July 23. Fifteen states and the District of Columbia have banned hand-held cellphone use while driving, according to the…

On Tuesday, Democratic members of the Senate Banking Committee, as well as three Democratic House members, urged separate hearings into San Francisco- based Wells, citing new developments at the company. That followed the filing this weekend of a class-action lawsuit in the insurance case, and renewed calls last week by U.S. Sen. Elizabeth Warren for the Federal…

–The Allstate Corporation today reported financial results for the second quarter of 2017.. “Allstate delivered strong financial performance in the second quarter as a result of excellent progress on our five 2017 Operating Priorities,” said Tom Wilson, chairman and chief executive officer of The Allstate Corporation. “Net income applicable to common…

—Arkansas legislators authorized a 75 mph speed limit on some major highways beginning Tuesday, but state highway officials say “Not so fast.” Engineers are still studying road designs and traffic patterns to determine whether motorists can travel 75 mph safely, according to Arkansas Department of Transportation spokesman Danny Straessle.

_ American Financial Group Inc. on Tuesday reported second-quarter net income of $145 million. American Financial expects full-year earnings in the range of $6.40 to $6.90 per share. American Financial shares have increased 16 percent since the beginning of the year.

Aug. 01– Early June rainstorms that led to flooding in South Florida’s western suburbs cut into second-quarter earnings for Universal Insurance Holdings, parent of the state’s largest property insurance company. Universal Insurance Holdings is the parent company of Universal Property& Casualty, which has 596,044 residential and commercial policies.

_ American National Insurance Co. on Monday reported second-quarter earnings of $36 million. American National Insurance shares have fallen 4.5 percent since the beginning of the year. Keywords: American National Insurance, Earnings Report.

In California, 36 companies– including Intel, Toyota, Uber and Ford– have been approved over the past three years to conduct tests on autonomous vehicles. But in New York, self-driving vehicles are coming at a far slower pace. Yet with the 365- day testing window now one-third over, only one company– Audi– has signed up to test in New York.

—Wells Fargo is paying $80 million to customers who the bank signed up and charged for auto insurance that they did not want or need. The bank said Friday that roughly 570,000 customers were affected and will be getting refunds. Like most auto loan companies, Wells Fargo required borrowers to have comprehensive and collision insurance.

The legislation says nothing in it stops Congress from enacting new laws in the future on self-driving cars and leaves to the states questions such as licensing, insurance and law enforcement of such vehicles– unless they pose “an unreasonable restriction” on such vehicles’ performance. “Time is really of the essence because we’re in an international…

Markel, one of the Richmond area’s eight Fortune 500 companies, said Wednesday that it has agreed to pay $21 per share for all of the outstanding shares of State National Companies Inc., a seller of property and casualty insurance. The deal must get approval from State National’s shareholders and state insurance regulators, although two large blocks of…

1,600 Minnesota consumers get $315,000 in refunds. Minnesota Commerce Commissioner Mike Rothman announced that an investigation by his agency has resulted in an insurance company paying a $75,000 penalty and refunding $315,000 to more than 1,600 Minnesota drivers who were charged higher auto insurance rates solely because they were renters rather…

Better Business Bureau of Minnesota and North Dakota wants to ensure that Minnesota homeowners are aware of a rule to protect them when they begin the process of finding a contractor to make repairs. In particular, BBB and the Minnesota Department of Labor and Industry want to alert consumers about a Minnesota law enacted in 2010 that prohibits contractors…

In low-lying areas like South Florida, where rising seas and repeat floods are already driving up insurance costs, the nation’s beleaguered flood program should consider more aggressive efforts to buy out risky property, the Natural Resources Defense Council said.

July 26– Florida wades deeper into hurricane season as the debate heightens over what to do with the deeply indebted National Flood Insurance Program and its coverage of properties prone to repeated flooding. In Florida, more than 1,600 properties have flooded an average of five times, according to the council’s review of data from FEMA. The impact would be felt…

SHELBY TOWNSHIP- On June 28, Gov. Rick Snyder signed into law Public Act 59 of 2017, which enables Michigan motorists to provide electronic proof of automobile registration to law enforcement. Peter Lucido, R- Shelby Township, who proposed both bills, said they take drivers into the 21st century.

The length of loans for new vehicles hit an all-time high last month, as buyers took on more debt and stretched their budgets for increasingly expensive cars and trucks.

As Congress works out the differences in several bills to reauthorize the National Flood Insurance Program, a flood insurance expert says lowering the number of properties that put in repeat flood claims is a top priority.

TRENTON – Attorney General Christopher S. Porrino and the Office of the Insurance Fraud Prosecutor (OIFP) today announced that a…

–Filing a car insurance claim has traditionally been slow and complicated, given the highly manual processes required to collect details and issue payment. Metromile, the leader in pay-per-mile car insurance in the U.S., is revolutionizing the claims experience with the launch of its automated system powered by their new AI smart claims assistant, AVA.

July 24– YOAKUM– To 19th century German pioneers who settled in the Crossroads, fire raging on an isolated, unprotected prairie was a great threat. The settlers gathered in Hochheim on the second day of Pentecost in 1892 to organize a mutual insurance association and elected J. Schwab as president. Hochheim is among the largest farm mutual insurance companies in…

The lawsuit in Superior Court in San Mateo argues that the 37 oil, coal and gas firms are responsible for roughly 20 percent of industrial carbon dioxide and methane emissions between 1965 and 2010, adding that they have known of the consequences since as early as 1968. Among the defendants are Chevron, BP, ExxonMobil, Shell and Citgo. Marin County and the city of…

Kemper Corporation announced today that it estimates that its second quarter 2017 results will include pre-tax catastrophe losses in the range of $32 million to $38 million. With $8 billion in assets, Kemper is improving the world of insurance by offering personalized solutions for individuals, families and businesses. Offer insurance for home, auto, life,…

National Partners, a new premium finance company that makes financing business insurance simple and efficient, has opened for business. It…

July 14– More than a dozen severe wind and hail storms contributed to catastrophic losses totaling $31 million to $34 million from April through June, according to an update Horace Mann Educators Corp. released prior to its regular earnings report. The $31 million to $34 million estimate equals 49 cents to 53 cents per share, according to the company.