Industry News

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Trump’s Labor Board Overturns Obama ‘Joint Employer’ Rule
December 15, 2017
A U.S. labor board on Thursday overturned an Obama-era ruling that had made it easier for unions and workers to hold companies accountable for practices of contractors and franchisees, a decision welcomed by business groups that could affect a major …

Florida Disaster Fraud Team Investigation Leads to False Claim Arrest
December 15, 2017
A Florida man was arrested last month after he was caught lying to his insurance company in an attempt to file a false insurance claim for vehicle for damage allegedly caused by Hurricane Irma, according to a statement from Florida …

Issuer Credit Rating of Ohio’s Affinity Mutual Insurance Co. Downgraded
December 15, 2017
A.M. Best announced it has has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Affinity Mutual Insurance Co. (AMIC) in Lima, Ohio. The outlook of … …

OSHA Rule Requiring Electronic Reporting of Injuries Goes Into Effect
December 15, 2017
A federal rule requiring certain employers to electronically submit injury and illness reports goes into effect today. The rule applies to businesses in many states with 250 or more employees that are currently required to keep OSHA injury and illnes …

Michigan Insurance Agent Sentenced for Embezzling $800K from Clients
December 15, 2017
A suburban Detroit insurance agent has been sentenced to at least six years in prison for embezzling more than $800,000 from a dozen elderly clients. Paul Garceau Jr. of Grosse Pointe Park had pleaded guilty to embezzlement by an agent …

PolyMet Secures $544M in Surety Bonds, Funding for Wisconsin Mine Costs
December 15, 2017
PolyMet Mining Corp. is offering the state a $544 million package of financial assurances to serve as an insurance policy to protect taxpayers from potentially having to cover the costs of closing and cleaning up a controversial copper-nickel mine it …

Westcap Insurance Services Ups Limits for Contractors Program, Expands into Arizona
December 15, 2017
Solvang, Calif.-based Westcap Insurance Services, LLC has expanded its admitted program for contractors to now include Arizona domiciled risks. Westcap also announced increased limits and other product enhancements to the program in the state of Wash …

Truman Taylor Insurance Closes, Joins Galveston Insurance Associates
December 15, 2017
Texas Sen. Larry Taylor, president of Truman Taylor Insurance in Friendswood, is closing his agency after 55 years of operation and joining Galveston Insurance Associates (GIA), effective Dec. 15. GIA has been operating on Galveston Island for 125 ye …

Louisiana Citizens Property Insurance Policy Count Continues to Drop
December 15, 2017
The Louisiana Department of Insurance (LDI) estimates that the state’s property insurer of last resort has gone from the third largest property insurance company to the 35th in 10 years. The eleventh round of depopulation is underway for the Louisian …

Texas Regulators Say Workers’ Comp Costs Down 63% Since 2005
December 15, 2017
More Texas businesses are providing workers’ compensation insurance as the cost of coverage continues to decline, according to the Texas Department of Insurance – Division of Workers’ Compensation (TDI-DWC). Premiums have fallen by 63 percent since 2 …

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