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Daily NewsFlash : June 13, 2013

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Thursday, June 13, 2013

Insurance Tornado Claims in Oklahoma Top 60,000

Oklahoma tornado claimsThe Oklahoma Insurance Department says more than 60,000 claims have been filed from tornadoes that raked the state last month, with total insurance payments currently topping $470 million.

Insurance Commissioner John Doak released the latest figures on Tuesday and said it's only the be...

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CT Judge Orders Hartford Fire Insurance to Pay $20 Million in Punitive Damages to Automobile Body Shops

Hartford to ordered to pay $20mA Connecticut judge has ordered Hartford Fire Insurance Co. to pay $20 million in punitive damages to automobile body shops in a class-action lawsuit that alleged unfair trade practices against the insurer.

A jury had previously awarded $14.76 million in compensato...

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Medical-Device Makers Urged to Bolster Cybersecurity

medical devicesThe U.S. Food and Drug Administration asked medical-device makers to fortify products against hackers and malware Thursday, citing a recent uptick in cybersecurity incidents affecting equipment such as patient ...

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Eight Charged in Cybercrime Scheme Targeting Banks, Government

CybercrimeNew Jersey federal prosecutors on Wednesday charged eight people involved in an international cybercrime scheme that targeted 15 financial institutions and government agencies and aimed to steal at least ...

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E&O: A Strong Safety Net for Commercial Real Estate Firms

Axis Insurance Services

The aftershocks of the residential mortgage crisis have continued to impact the commercial real estate m...

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U.S. Treasury: Low Interest Rate a Challenge for Insurers

low interest rates and insurersSustained low interest rates by the US Federal Reserve could affect the profitability of the American insurance sector, a report by the US Treasury Department said Wednesday.

In 2012, as it continued to crawl out from the financial crisis, the life and health i...

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Lockton to Expand Commercial Insurance Operations to Boston

Lockton is adding moLocktonre commercial insurance operations in the Northeast U.S. with the formation of an insurance brokerage office in Boston. 

Lockton has named risk management veterans Chip Manozzi and Eva Durkin as Senior Vice Presidents in Boston.

The Lockton operations will have temporary quarter...

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