Regional news: New York
Insurance companies back NTSB’s call for driver texting, cellphone ban
An insurance industry trade group, representing about 300 insurers, says it supports the National Transportation Safety Board’s call for a ban on texting and using cellphones while driving.
Most insurance agents say they refer, eschew clients’ tax issues
The majority of insurance agents say they refer their clients seeking tax services to an accountant or certified public accountant, according to the latest IFAwebnews.com poll.
Chartis procures $575M protection against hurricanes, earthquakes
A New York, N.Y.-based insurance company entered a reinsurance agreement with another insurer that will provide $575 million in protection against hurricanes and earthquakes in the U.S.
Richmond, Va.-based Markel Corp. is acquiring Thompson Insurance Enterprises, which operates as THOMCO, a privately held program administrator underwriting multi-line, industry-focused insurance programs.
Hurricane Irene loss estimate raised to $4.3 billion
The latest estimates of catastrophic losses from August’s Hurricane Irene project total property damage at $4.3 billion, with the worst damage in New Jersey and North Carolina.
A New York investigation into life insurers failing to match life insurance policies against master files of deaths has resulted in more than $52.6 million in payments to 7,934 beneficiaries.
HHS doesn’t exempt insurance agent commissions in final MLR rules
The U.S. Health and Human Services Department issued final rules for its medical loss ratio, declining the request of insurance agent trade groups and state insurance regulators to exempt agent and broker compensation.
Irene’s fury biggest blow as 2011 Atlantic hurricane season ends
The 2011 Atlantic Hurricane season ended Nov. 30 after producing seven major hurricanes, including three major ones, according to the National Oceanic and Atmospheric Administration.
Some commercial P-C sectors ‘transitioning’ toward hardening
The insurance market for construction firms, architects and engineers appears to be hardening, according to the latest Lockton Market Update.
LPL Financial raising fees, other levies for 12,800 advisors
A national independent broker-dealer is raising fees, including its advisor affiliation fee, starting Jan. 1, 2012, after two decades of maintaining the same rates.
Obama to force insurers to give out birth control when employers won’t
Group representing 119 in Congress calls individual mandate illegal
Insurer fined for charging unapproved rates on students’ policies
Brokerage firm pays $3.3M for bad-mouthing insurance broker
Employee benefit offerings only as good as the discussion about them
Sponsors of 401(k)s adding features to boost participants’ investment
Mercury Insurance seeks agents, unveils new commercial auto product
Most, least expensive 2012 car models to insure announced
Two insurance agents allegedly stole $422,000 from family brokerage
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