National News for October 2004 Ethics Called Bottom Line Issue for Entire Insurance Industry American Driving Records Delivers Instant Motor Vehicle Records Through Ivans Transformation Station CIAB Issues Statement on Broker Compensation Study Lauds Driver Stability Systems for Reducing Single Car Crashes by 35%, SUV Accidents by 67% Conning: Group Insurance Lines Outpace Individual Fitch Drops Marsh & McLennan’s Senior Debt Conn. AG Subpoenas Allstate Insurance Treat: Halloween Candy Liability Waiver Pierce Elected PCI Chairman; Whitburn, Tierney Appointed to Vice Chair Positions Guy Carpenter Unveils Reveal for Workers’ Comp Risks Aon Re’s 3rd Annual Study: Improvement in Homeowners Prospective ROE Keeps Up Conn. AG Subpoenas U.S.I. Holdings Corp. S&P Announces Reaction to Recent MMC Developments AIG Private Client Creates Loss Prevention Unit Greenberg Out, Cherkasky In, at Marsh; Broker Vows to Unveil ‘Significant Reforms’ Today AIG Seeking Resolution of SEC, DJ Investigations AIG Launches Equipment Finance, Leasing Company ISO: Insurers Will Pay Estimated $3.245 Billion on Hurricane Jeanne Claims Spitzer: Corporate Criminal Prosecution for Marsh Not Necessary Following Greenberg Resignation Chubb Sees Growth in Q3 W.R. Berkley Sets Q3 Record CPCU Society Board of Governors Issues Ethics Policy Statement During Meeting SNL Financial Broker Index Loses More Than Quarter of Value Since N.Y. AG Announces Investigation Marsh Directors Reportedly in Negotiations with N.Y. AG; CEO Greenberg Said Pressured to Resign Patterson Named Exec VP at First State Management Sloan Mason Notes MGL Product RMS Updates U.S. Terrorism Risk Model Schinnerer’s Public Entities Department Adds More Coverages For All Types of PE Dunn Elected President of ASCnet A.M. Best: Cycle Management Key to Reinsurance Industry Financial Strength S&P Says Insurance Brokers Have Resources to Manage Through Current Crisis S&P Revises Overall P&C Outlook to Negative PCI Says Industry Unfairly Painted in Light of Alleged Illegal Practices U.S.I. Holdings Corp. Targeted in Class Action Suit Rockwood Expands E&O Program for P&C Agents Marsh Pegs Contingency Payments at Center of Probe at $1.2 Billion in Past 18 Months Willis Abolishes Contingency Pacts; Sees Opportunity in New ‘Level Playing’ Field Among Insurance Brokers AIG Target of Federal Grand Jury Investigation AIG Unveils Q3 Numbers, Notes Storm Impact S&P Drops Ratings on Marsh & McLennan Cos., Aon State Farm Partners with HFSC’s Steering Committee to Increase Home Safety PCI Praises President’s Commitment to Legal Reform ACE USA’s International Advantage(R) Now On-line Evaluating Overcharges: Should Your Company Pursue Claims Against Brokers and Carriers’ Q3 Commercial P/C Premiums Continue Fall ‘No Immediate Rating Actions’ on AIG, ACE, Hartford, Says S&P St. Paul Travelers Estimates Approximately $93 Million in Jeanne Losses PCI Cites State Trade Group’s ‘Crucial Role’ in Regulatory Reform Debate GAB Robins to Provide Workers’ Comp Claims Services for Folksamerica Complete Text of N.Y. AG’s Complaint Available Online Spitzer Invites Health Insurer into Expanding Broker Compensation Probe WFG Capital Advisors: Agency Consolidation Gaining Momentum; Outlook Remains Cloudy Impact of Spitzer Broker Fraud Charges Felt at Marsh and Beyond Evan Greenberg Issues Statement to ACE Employees on Spitzer Investigation Fitch Downgrades Marsh & McLennan’s Senior Debt, S-T Ratings Following Probe NAMIC: Post-Election Priority – Extension of TRIA Insurers to Pay $6B on Claims for Hurricane Ivan United National, Penn-America, Penn Independent Join Forces to Become United America Indemnity AIG’s Greenberg Expects More Transparency, Not Material Impact from Brokerage Charges Marsh Halts All Controversial Brokerage Agreements S&P Lowers FSR for Fireman’s Fund, Some Subs Big ‘I’ Condemns Illegal Bid-Rigging, Steering Life Insurers Get Taste of Spitzer Probe MMC Names New Chairman, CEO at Marsh Inc. Hagerty to Write Lowriders New York AG Sues Marsh Over Contingent Commissions, Cites Insurers Over Alleged Bid-Rigging Ins. Rates for Hospital Professionals, Physicians May Slow in 2005 ACORD Ad Campaign Puts Humor into Data Standards TRIA Extension Uncertain, Insurers Advised to Prepare Assurex Global Adds Four New Partners Disaster Recovery Planning Heads Report Partnership to Help Businesses Prevent Loss NAMIC Promotes Three to Senior VP Travelers Integrates Auto Report Ordering into Agent Web Site According to Study, Insurers Continue to Price-Gouge Doctors Despite Falling Med-Mal Payouts Hales & Co. Purchased by Management Group ASCnet Honors Litwin with Leadership Award Supreme Court Debates Pollution Lawsuits AIG’s Greenberg: Industry Faces Trouble with Congress on TRIA; Some Pursue ‘Graveyard’ Strategy Hopes Fade for Terror Insurance Renewal This Year as House, Senate Prepare to Recess PCI: Civil Justice Reform Important to Insurers Four Companies Honored with Best Practices Award at Big ‘I’ Conference Big ‘I’ Concerns: Insurance CEOs Cite Terrorism, Asbestos, Tort Reform PIAA: Both Presidential Tickets Recognize Medical Crisis; Kerry-Edwards Fails to Embrace the Solution PIA National Unveils Grassroots Action to Ensure Passage of Terrorism Insurance Extension W.R. Berkley Ratings Affirmed From Fitch Disney Facilitator Emphasizes “Magical Interaction” to ASCnet APPEX to Hold Executive Symposium Oct. 20-22 St. Paul Travelers Ivan Losses Around $94 Million Fitch Affirms Chubb’s ‘AA’ IFS Ratings AIG Excess Casualty Introduces New Broker Initiative for Commercial Umbrella Producers Brown Elected Chairman of CIAB Zurich Names Kaplan Chief Underwriting Officer – North America Commercial Best Assigns Aioi America “A” Rating Hartford Authorizes $1 Billion Share Repurchase R&M Report Says U.S. Insurers Distribution Expenses May Double AMS-Rackley Rolls Out SETWrite in 15 States Najjar Takes Helm at Clarendon Insurance Group Congress Debates Reforms to Nuclear WC Program Cheney, Edwards Spar Over Medical Liability Issue During VP Debate P/C Insurers’ Loss Reserves “Remain Deficient” Says Best Report SEC Alleges AIG Press Releases on PNC Affair Could Violate Securities Laws Berkley Updates Q3 Hurricane Loss Estimates to $20 Million, Including Jeanne Ambassador Bremer Tells Agents Saddam Ouster Was Right to Do But U.S. Troop Levels Were Wrong Lighthouse Offers New E&O/EPLI Policy for Agents S&P Affirms Zenith National Ratings Big ‘I’ Applauds Countersignature Trends Underinsurance Problem Improves, Says MS/B NAIC Releases 2005 Budget; Expenses Cut by $1.8M Markel Estimates $80 Million in Hurricane Losses National Flood Insurance Program Launches Agent Co-Op Program The Hartford FSG to Sell Crop Business to Wells Fargo’s Rural Community Insurance Co. The Increased Difficulty of Successfully Challenging the Arbitration Award Insurance Is Fun! Declare Grizzled Industry Veterans Emerging Markets Executives Share Success Strategies At $22 Billion, Insured Losses from Four Florida Hurricanes Will Exceed Andrew’s Record PIA Survey Shows Strong Support for State Regulation MarketScout: Property Market Halts Rate Reductions CIAB Expands Global Market Opportunities National News Archives
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