Articles by Andrew G. Simpson

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 …

H.R. Haldeman’s Son Recalls Life Before, After Watergate; Own Entry Into Insurance

Visiting his father in jail was a “blessing” of sorts for Hank Haldeman, son of H.R. Haldeman, President Nixon’s chief of staff who was convicted in the Watergate scandal and spent 18 months in jail. He would bring lunch for …

Might Human Drivers Be Outlawed?

Tesla Motors co-founder and CEO Elon Musk thinks that human-driven cars could eventually be outlawed as computers show they can do a more efficient and safer job of driving. “In the distant future, [legislators] may outlaw driven cars because they’re …

Exclusive Sneak Peak: Hank Haldeman on Carrying Family Name in Insurance

The son of one of the central figures sent to prison as part of the Watergate scandal of the 1970s says that the family name has been more of a benefit than a burden, perhaps because he works in the …

Exclusive: Haldeman, Son of Watergate, Remembers His Father and President Nixon

H.R. “Bob” Haldeman bears some responsibility for the Watergate scandal but he was innocent of the criminal charges brought against him, says the son of President Richard Nixon’s former chief of staff. In an exclusive, wide-ranging interview with Wells Media …