Articles by Andrew G. Simpson

Senate Bill Would Raise Amtrak Liability Limit

U.S. Sen. Bill Nelson, D-Fla., has filed legislation aimed at helping victims of the deadly May 12 Amtrak derailment. Nelson’s bill would raise the current $200 million cap on the amount a passenger rail company is obligated to pay victims …

GEICO to Raise Auto Insurance Premiums

GEICO, which “everybody knows” saves drivers 15 percent on auto insurance, said it will raise its auto premiums after underwriting results declined in the first quarter. The giant direct writer said its underwriting profit for the first quarter was $160 …

GEICO, Allstate to Raise Auto Insurance Premiums

GEICO, which “everybody knows” saves drivers 15 percent on auto insurance, said it will raise its auto premiums after underwriting results declined in the first quarter. The giant direct writer said its underwriting profit for the first quarter was $160 …

Beating Up on Workers’ Comp: Grand Bargain Taking Jabs from Multiple Directions

The state-based workers’ compensation system has stayed on its feet for 100 years in part by being able to defend itself against blows and then counterpunch when necessary. It has shown an ability to reform to fit the economy and …

Georgia Supreme Court Sides with XL Specialty in Barring Bad Faith Claim

The Georgia Supreme Court denied an insured’s bad faith claim against its insurer for its refusal to pay a settlement because the insured settled on the amount without the consent of the insurer that was required by the policy. A …

The Story Behind Southport Lane’s Collapse

An insurance empire that included two insurance carriers, two offshore reinsurers, several buildings and other insurers’ investments was built by a private equity firm in part on questionable assets and is now being dismantled, according to The Wall Street Journal. …

Obama, Insurers Welcome Bipartisan Trade Authority Measure

The White House would get its desired clarity of authority to negotiate a Pacific trade agreement while lawmakers would get the right to set negotiating parameters and to have a yes-or-no-vote on such pacts under a bipartisan proposal unveiled Thursday. …

Insurers AIG, USAA Receive OK to Test Use of Drones

Two more insurers have received approval to test the use of unmanned aerial vehicles (UAVs), or drones, for their business. The Federal Aviation Administration (FAA) has approved requests from USAA and American International Group (AIG). State Farm said last month …

AIG Buys Controlling Interest in Program Manager NSM Group

American International Group Inc. has agreed to acquire a controlling stake in NSM Insurance Group, a managing general agent and insurance program administrator, from ABRY Partners and NSM management. Terms of the deal were not disclosed. NSM Insurance Group administers …

Independent Insurance Agents Defying Doomsayers

According to analysts, technologists, aggregators and others, the independent agency system is in trouble. Somebody forget to tell independent agents. Or more to the point, the doomsayers perhaps didn’t notice that independent agencies have been adapting and getting more into …