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Salisbury Man Faces False Pretenses Charges in Connection with Insurance

Salisbury Post (NC) (05/24/18) Derrick Michael Brice was charged with felony obtaining property by false pretense, according to the North Carolina Insurance Commissioner’s office. Brice allegedly obtained $7,132.72 from Mutual of Omaha...

Report on Insurance in a Changing Climate

Actuarial Post (05/24/18) A new report by the Asset Owners Disclosure Project examined 80 of the world’s largest insurers, with assets worth $15 trillion. Based on their management of material climate risk, insurers were rated from AAA...

Insurance Regulatory Overview

CIOReview (05/25/18) The National Association of Insurance Commissioners (NAIC) has described big data as unstructured or structured data being used to influence underwriting, rating, pricing, forms, and claim handling. The NAIC says that regulators...

FAA Reauthorization Act Could Mean Changes for Air Ambulance Industry

Vertical Magazine (05/24/18) Head, Elan The proposed Federal Aviation Administration Reauthorization Act (HR 4) calls for air ambulance operators to “clearly disclose charges for air transportation services separately from charges for...

Hurricane Season Starts June 1. Here Are Some Ways Texans Can Prepare.

Texas Tribune (05/24/18) Samuels, Alex The 2018 hurricane season will begin June 1, but small towns in Texas continue to deal with the aftermath of the 2017 hurricane season in which Hurricane Harvey caused about $200 billion in damage. Texas...

Why Is Health Insurance So Insanely High in Summit County? Experts Ponder the Question

Summit Daily News (CO) (05/24/18) Dutta, Deepan The Summit Chamber of Commerce held a town hall forum on May 18 to discuss health insurance costs in Colorado’s high country. Colorado Insurance Commissioner Mike Conway observed, “Members...

Atlantic May Produce 5 to 9 Hurricanes in 2018 Storm Season

Bloomberg (05/24/18) Sullivan, Brian K. The National Oceanic and Atmospheric Administration (NOAA) predicts the 2018 storm season will produce as many as four major hurricanes rated Category 3 or higher. The outlook comes on the heels of three...

Georgia Business Owner Arrested for Insurance Fraud

Insurance Journal (05/24/18) Maria Estela Castillo of Gwinnett County, Ga., was arrested and charged with one count of insurance fraud after presenting a fraudulent certificate of insurance coverage, according to Georgia Insurance Commissioner...

Three Riverside and Two Los Angeles County Insurance Agents Arrested for ID Theft

24/7 Headline (05/25/18) Three Riverside County and two Los Angeles County residents were arrested for multiple felony counts of identity theft and grand theft for allegedly submitting fraudulent insurance applications with information from...

U.S. Banks Reported Record First-Quarter Profit

Wall Street Journal (05/22/18) Tracy, Ryan; Demos, Telis The Federal Deposit Insurance Corp. (FDIC) reports that U.S. banks recorded a quarterly profit of $56 billion in net income for the first quarter of 2018 due to rising interest rates,...