Articles by Andrew G. Simpson

House Committee Approves TRIA Renewal Bill with NARAB Amendment

The House Financial Services Committee today voted to report out a bill to extend the federal terrorism insurance program for another five years. The bill also contains some reforms of the Terrorism Risk Insurance Act (TRIA) and an insurance producer …

Florida ‘Hurricane Tax’ Sent to Early Retirement

A1.3 percent surcharge on most property/casualty policies in Florida to help pay for past hurricane claims is coming to an end earlier than originally planned. The Florida Cabinet voted this week to end the assessment on policyholders that was begun …

Aspen Board Urges Shareholders to Reject Endurance Offer

Aspen’s board of directors has unanimously agreed to reject the unsolicited exchange offer from Endurance to acquire all of the outstanding shares of Aspen for a combination of common stock and cash. The board determined the offer is not in …

House Votes to Block Raising Truckers’ Minimum Insurance Limits

The House of Representatives voted narrowly this week voted to block the federal government from raising the minimum liability insurance limits for truckers as recommended recently by the regulatory agency for the trucking industry. The vote on June 10 came …

Drive Underway to Increase Truckers’ Minimum Insurance Limits

Truckers would be required to buy higher insurance limits under a government proposal, although how much higher is not yet known. The Federal Motor Carrier Safety Administration (FMCSA) concluded in a report to Congress that current minimum financial responsibility limits …

Tennessee Adjuster Readies for Lengthy Legal Battle with Nationwide Over ‘On Your Side’ Slogan

A Tennessee adjuster sued by Nationwide Insurance for alleged trademark infringement because he used the company’s slogan, On Your Side, in his firm’s name and marketing, is fighting back in court and on the web. Jeremy Snyder, owner of On …

TurboRater Feature Lets Agents Control Carrier Ranking in Comparative Rating

The newest agency software feature for the personal lines comparative rating system TurboRater allows agency managers to control the ranking order of the carriers their producers see on the quote comparison list, regardless of rate. The new TurboRater feature, known …

Sunshine State Insurance Co.’s Future Unclear After UPC Deal Falls Through

The future for Florida’s Sunshine State Insurance Co. (SSIC) is unclear now that a deal by another insurer to rescue it has fallen through. United Insurance Holdings Corp. (UPC Insurance Co.) yesterday announced it had terminated its bid to acquire …

UPC Insurance Calls Off Deal to Acquire Sunshine State Insurance

United Insurance Holdings Corp. (UPC Insurance Co.) has terminated its bid to acquire financially-troubled Sunshine State Insurance Co. (SSIC), a Florida property/casualty insurance company. UPC’s intent to rescue Sunshine State was previously announced by the company on May 15, 2014. …

Alabama Supreme Court Nixes Tribal Immunity for Casino in Dram-Shop Case

An Alabama casino lost any tribal immunity from dram-shop lawsuits when it agreed as part of the state licensing process that it would be financially responsible for damages in serving alcohol to an apparently intoxicated person. The Alabama Supreme Court …