Regional news:
As American wins Boston Marathon, industry seeks terrorism law extension
While the U.S. celebrates the first American winner of the Boston Marathon since 1983, the insurance industry and federal legislators grapple with the issue of terrorism risk insurance that was again brought to the forefront after bombings during Boston’s signature race event last year.
Insurers and insurance trade groups are hoping to divert a plan by the DC Health Benefit Exchange Authority to charge a “health carrier assessment” to carriers that are not offering products through the government-run health insurance exchange.
Four U.S. insurance carriers have been subpoenaed by New York state’s top insurance regulator in an ongoing probe of potential sanctions violations involving Iran, according to sources quoted by national media.
Dovetail Insurance announced that it has expanded its workers’ compensation insurance to independent agents in Virginia, and will also be adding Pennsylvania and three other states before the end of April.
UnitedHealth Group Inc. is leaving the door open to expand its presence next year in public health insurance exchanges beyond the five states in which it is already participating.
Private U.S. property/casualty insurers’ net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012, with insurers’ overall profitability climbing to 10.3%, its highest level since 2007.
AssuredPartners Inc. has acquired CBS Coverage Group Inc., headquartered in Plainview, N.Y., through its subsidiary Assured SKCG Inc.
Aon Plc is being sued by the Port Authority of New York and New Jersey for allegedly keeping unauthorized commissions and failing to return premium overpayments.
Fidelity Investments released results of its 7th Fidelity Advisor Insights study, which found that while financial advisors are seeing the highest assets under management and compensation levels since 2007, many advisors seem to be falling behind when it comes to positioning themselves for future success.
Pittsburgh-based Lifetime Financial Growth (formerly Luttner Financial Group) was named the top-performing general agency for 2013 by The Guardian Life Insurance Company of America.
Universal Property & Casualty Insurance Company (UPCIC) has received approval to begin writing homeowners insurance in Delaware.
View more National Headlines »
PIANY’s Long Island RAP slated for May 1
Workers’ comp rates drop for some Pa. employers
A financial advisor from West Orange, N.J., was sentenced to prison for stealing nearly $1 million from two elderly clients – a professor and a medical doctor who are brothers – according to New Jersey Acting Attorney General John J. Hoffman. Read »
Six Passaic County, New Jersey, residents have been charged for their alleged roles in a staged-automobile accident scheme that defrauded two insurance companies of a total of more than $78,000. Read »
