Monthly Archives: <span>July 2014</span>

TransAsia Air Crash off Taiwan Leaves 48 Dead, 10 Injured

Forty-eight people are dead and 10 injured after a TransAsia Airways Corp. passenger plane crashed as it prepared to land on Taiwan’s outlying Penghu Islands. Flight GE222, a twin-engine ATR-72 turboprop, was making a second approach to Magong Airport when …

Emig Joins IFG Companies’ Property Unit in Atlanta Office

James E. Emig has joined IFG Companies as director of its Bind Property unit, where he will be responsible for property and package business across the United States. Emig will be based in IFG’s Atlanta office. He joins IFG Companies …

American Claims Management Now Managing GL & Excess Claims For Golden Insurance Company Risk Retention Group

San Diego, CA, 07/24/14 – National third party administrator (TPA) American Claims Management, Inc. (ACM) was chosen by Golden Insurance Company Risk Retention Group (RRG) to manage its general liability and excess liability claims effective May 1, 2014. Since 2001, …

Insurers Overemphasizing Digital Service Risk Alienating Customers: Bain

Global top performers in the high-churn personal insurance industry win over customers with consistent outreach that relies on multiple channels for customers to connect including phone, internet or face-to-face. However, insurers that overemphasize digital channels at the expense of traditional …

1 in 4 Young Adults Don’t Leave Home; Trend Expected to Rise

The share of young adults living with parents or other family members in the U.S. continues to grow in the aftermath of the most severe recession in the post- World War II era. A record 57 million Americans, or 18.1 …

Ascent Increases U.S. Medical Billings E&O Limits, Adds Reputational Harm Cover

Ascent Underwriting, a managing general agent (MGA) specializing in emerging and professional risks, has enhanced its CyberPro medical billings errors and omissions product and increased limit availability to $5 million. The insurance product was launched at the end of last …

Ohio Workers’ Comp Agency Settles Overcharges Lawsuit

The Ohio Bureau of Workers’ Compensation has reached an agreement in principle to settle the San Allen case, a class action lawsuit filed in 2007 against the BWC over the pricing of workers’ comp policies that were in place between …

Cause of Blaze at North Dakota Oil Supply Company Unknown

More than half a day after an industrial fire broke out in the North Dakota oil patch town of Williston, N.D., authorities still were unable to say what caused the massive blaze. The fire, which started around midnight Monday and …

Bond Insurers: Fight Against Detroit Bankruptcy Plan to Continue

Companies that insure Detroit bonds and stand to lose millions repeated a pledge to aggressively challenge the city’s bankruptcy plan, a day after retirees endorsed pension cuts and qualified for a bailout led by the state. Syncora and Financial Guaranty …

2,000 Structures in Fargo, N.D., to Need Flood Insurance with Map Changes

More people will be required to buy flood insurance in Fargo because of a change in flood plain maps. About 2,000 homes and businesses will need insurance when the new Federal Emergency Management Association map goes into effect in January. …