Unfair insurance practices earn Wells Fargo a $1 billion fine

Logan B.
Unfair insurance practices - Fine - Law - Gaval

The banking giant’s latest penalties are for having sold unnecessary auto insurance to customers. Wells Fargo has been slapped with a $1 billion fine for its unfair insurance practices. Thousands of the bank’s vehicle loan customers were sold additional unnecessary auto insurance policies. Those car owners ended up paying much more for their vehicles than was necessary. Among those Wells Fargo customers, thousands ended up having their vehicles repossessed as a result of the unfair insurance practices. The fine was laid down by the Consumer Financial Protection Bureau as well…

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Midland Commerce Insurance Buys Dublin Insurance Agency

Media24

St. Louis, MO, April 25, 2018 –(PR.com)– Midland Commerce Insurance recently purchased Dublin Insurance Agency, a family owned and operated company that was founded in 1964 by Tom Mooney and later bought by owner Eileen Markham in 1988. Markham, along with her employees, will join Midland Commerce Insurance. Midland Commerce Insurance is a member of Valley Insurance Agency Alliance (VIAA), a cohesive family of over 100 independent insurance agencies in Missouri and Illinois. Founded in 2017, Midland Commerce Insurance is a full-service insurance agency that specializes in workers’ compensation and…

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flynas, the First Airline in Saudi Arabia to Offer Travel Insurance in Partnership with Chubb Arabia

Media24

Riyadh, Saudi Arabia, April 25, 2018 –(PR.com)– flynas, the award winning Saudi national carrier and leading low-cost airline in the Middle East signed an agreement with Chubb Arabia Coorperative Insurance Company to offer flynas customers with travel insurance coverage, making flynas the first airline to offer its passengers travel insurance. The signing ceremony took place on the sidelines of the Arabian Travel Market that was held from 22nd April to 25th April 2018 at the Dubai World Trade Centre. This exclusive and beneficial feature of adding travel insurance coverage will…

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Allstate Insurance named Best of the Best Corporation for Inclusion for 2018

Marc
Best corporation for inclusion - Allstate Insurance Honoured with Title - 1st Place Award - Trophy

The National LGBT Chamber of Commerce and National Business Inclusion Consortium issued the title. Allstate Insurance has received the proud title of Best of the Best Corporation for Inclusion for 2018. The National LGBT Chamber of Commerce (NGLCC) and National Business Inclusion Consortium (NBIC) collaborated to designate the insurer with this title. This title is meant as a celebration of a company committed to broad spectrum inclusion and diversity. The NGLCC and NBIC consider companies for the title of Best of the Best Corporation for Inclusion based on several factors.…

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Sapiens to Enrich Digital Engagement Platform Through Partnership with EasySend

Media24

Uxbridge, United Kingdom, April 25, 2018 –(PR.com)– Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that it has entered into a partnership with EasySend, an insurtech company offering a SaaS-based Digital Transaction Management (DTM) platform for smart and digital forms. EasySend’s DTM will integrate with the Sapiens Digital Engagement Suite across Sapiens’ Life, Pension and Annuities and Property and Casualty/General Insurance platforms and will enable insurers to rapidly transform forms and documents into a customer-driven, digital experience that…

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Geoffrey P. Kissel Installed as the New President at NSSTA

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Washington, DC, April 25, 2018 –(PR.com)– The National Structured Settlements Trade Association (NSSTA) is pleased to announce Geoffrey P. Kissel, Assistant Vice President at Pacific Life Insurance Company is installed as the new NSSTA President. Kissel, who is from Orange County, California, has more than 15 years experience working in the financial services industry with structured settlements consultants. Kissel, who will serve the 2018-2019 term as NSSTA President says, “It’s an honor to be part of a leadership team that advocates on behalf of personal injury claimants and their families…

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Royal baby boy delivery expenses lower than those of average US woman

Julie Campbell
Royal Baby Boy - Image of Newborn - Health Insurance

Prince William and Kate Middleton’s healthy son was born in the Lindo Wing of St. Mary’s Hospital. The Duke and Duchess of Cambridge, Prince William and Kate Middleton announced the birth of the youngest royal baby boy. The newborn was delivered in the Lindo Wing of St. Mary’s Hospital just like his brother George and sister Charlotte. Despite the baby’s royal status, his birth likely cost less than what is charged to the average mom in the U.S. The cost of 24 hours in a deluxe room for a non-cesarean…

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Allianz token in testing for internal money transfers

H. Cutner
Allianz Token - Blockchain - Digital Currency

The insurance giant is trying a new blockchain-based internal token to overcome funds transfer challenges. A new Allianz token is being tested by the insurance giant for moving money among its global affiliates. The concept used blockchain tech to allow the company’s worldwide locations to exchange money without currency conversions among other challenges. Allianz is using this token to get past a number of costs and inefficiencies related to international funds transfers. The Allianz token is meant to be used only within the company itself. It is not launching a…

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AUI’s Premium Personal Lines Division, Reliance Risk Solutions, Named a Top Personal Insurance Agency by Chubb

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Oak Ridge, TN, April 22, 2018 –(PR.com)– Chubb has bestowed its Cornerstone designation on Appalachian Underwriters, Inc.’s premium personal lines division, Reliance Risk Solutions (RRS). Of the approximately 3,600 U.S. personal lines agencies that work with Chubb Personal Risk Services, less than seven percent have earned the Cornerstone designation. “Appalachian Underwriters has worked with Chubb for the last seven years,” said Tyrone Bennett, Chubb’s Nashville branch manager. “Reliance Risk Solutions’ day-to-day commitment to delivering risk management solutions to successful individuals and their families has enabled it to become one of…

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SterlingRisk Insurance CEO David Sterling Named to Long Island Press Power List

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Woodbury, NY, April 20, 2018 –(PR.com)– David Sterling, CEO of SterlingRisk Insurance, one of the nation’s leading independently owned insurance brokerage firms, has been named to the Long Island Press Power List. An annual recognition of the “50 most influential Long Islanders” as determined by the publication’s writers and editors, the 2018 Long Island Press Power List highlights a wide range of leaders within business, the arts, politics, academia, entertainment, and the Long Island community. More than 400 guests attended the recent Power List induction ceremony. “I am honored to…

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