National News

ACE Enhances Life Sciences Coverage Offerings

The ACE Medical Risk Group has enhanced its life sciences capabilities to include a commercial package offering comprised of general liability, inland marine, crime, umbrella liability and business automobile coverages to help address the needs of life sciences companies. The …

Carter Named President of Berkley Program Specialists, Succeeding Diem

W. R. Berkley Corp. has named Wayne H. Carter, III as president of Berkley Program Specialists. Carter succeeds John Diem, who is retiring. Based in Naperville, Illinois, Berkley Program Specialists is a program management company offering both admitted and non-admitted …

Customers Switching Auto Insurers Unhappy with New Prices: J.D. Powers

Customers who switch auto insurance carriers due to poor service often end up sorry they did because they end up paying more with their new insurer, according to the latest J.D. Power 2014 U.S. Insurance Shopping Study. While a poor …

Why Not Renewing TRIA Could Cost Government More Than Renewing It

Ending the federal terrorism risk insurance program could end up costing the federal government more than if the program, TRIA, is allowed to continue, according to a RAND Corp. study. The analysis finds that in a terrorist attack with losses …

MEMIC Adds to Underwriting Teams in Virginia, Maryland and Florida

The MEMIC Group has appointed three underwriters for its territories in Virginia, Maryland and Florida. Timothy Cook, Michael Diamond and Scott Meinke joined the group’s underwriting team as senior production underwriters. Cook brings 30 years of experience in the insurance …

Damages Phase of BP Gulf Spill Trial to Begin in January

The high-stakes penalty phase of BP’s trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday, and billions of dollars could be on the line. Fines under the …

Buffett Says Rail Industry Concerned Over Oil Transport Safety

Warren Buffett, chairman of conglomerate Berkshire Hathaway, said on Wednesday that safety is a major priority for the rail industry, after a recent spate of accidents raised concerns about how to transport oil safely. “I can tell you that’s all …

GM Car Owners Allege Fraud in Challenging GM Bankruptcy Protection

General Motors Co.’s request for court protection from 50 car-owner lawsuits seeking compensation for millions of recalled autos with defective ignition switches was attacked as legally “unsupportable.” Car owners challenged GM’s position that it may compensate accident victims but not …

Mining Industry Vows to Fight Obama Administration Coal Dust Rule

The Obama administration ordered a 25 percent cut in the levels of coal dust in U.S. mines to reduce deadly black lung disease, a move that drew criticism from the mining industry and the threat of a lawsuit. The rule …

Odds of El Nino This Year Increasing, Says U.S. Climate Center

The odds are increasing that an El Nino weather system will form this year, portending drought for Australia and Asia and a warmer winter in the U.S. Northeast. The U.S. Climate Prediction Center now says there’s a 65 percent chance …

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