National News
News for December 2008
December 31, 2008
- Former AIG CEO Willumstad Foregoes Some Stock Awards
- Advisen Predicts Hardening of Commercial Insurance in Late 2009
- Insurers Say Fair Value Accounting Was a 'Powerful Accelerant' to Credit Crisis
December 30, 2008
- Study: Deadliest Hotspots for Teen Crashes on New Year's Holiday
- Survey: Insurance Ranks No. 2 as Most Important Bill to Pay On-Time
December 29, 2008
- AIG Buys $16 Billion of Collateralized Debt Obligations It Insured for Default
- Carefree Country Living? Study Finds Injury Rates Higher in Rural Areas
- Insurers Beginning to Weigh Economic Capital Modeling in Strategizing
- Best Removes Hartford from Review; Affirms 'A+' Ratings
- Best Affirms Chubb and Subsidiaries 'A++' Ratings
- Ratings Roundup: Cooperative Mutual, Great Northwest
- Fireman's Fund Offers Insurance for Small Hotels, Motels, Inns
- Aon Names Meissner Global Controller
December 24, 2008
December 23, 2008
- FTC Probing Insurers Over Credit-based Homeowners Insurance Pricing
- Insurers Balk at FTC Order for Consumer Data in Credit Score Probe
- Zurich Insurance Says It's Actively Looking for Acquisitions
- Deluge of Lawsuits by Angry Madoff Investors Expected
- U.S. Insurers Increasingly Outsourcing Actuarial Work to Overseas Talent
- Scottsdale Launches Canada Partnership with Co-operators
- Ratings Recap: Max America, Professionals Direct, Great Western, Seven Seas
- Brownyard Introduces Wildlife Management Program
- Limited Designated Operations Endorsements Coverage Gaps: Myths And Realities - Part II
December 22, 2008
- Subprime Lawsuits Already Up 50% and No End in Sight
- Munich Re to Buy Hartford Steam Boiler from AIG for $747 Million
- Zurich Gaining Commercial Insurance Clients Away from Rivals
- Navigators Launches Environmental Unit; AIG's Robinson Named VP
- 'Death Map' Geographers Compare Natural Event Fatalities by County
- Insurer is 'Torturing' Policy Using Pollution Exclusion to Deny Death Claims
- What Are The Coverage Gaps Created By The Limited Operations Endorsements?
December 19, 2008
- Retail, Wholesale Insurance Brokers Working on Electronic Transactions
- P/C Profits to Plunge 80% in 2009: Fitch
- AIG Shareholder Suit Settled
- CRC Insurance to Acquire North Carolina-Based TAPCO Underwriters
- Best Upgrades Allianz (US) Ratings to 'A+'; Affirms Fireman's Fund
- Ratings: ANICO, Washington Casualty, Grain Dealers, Nat'l. Guaranty, Am. Physicians
- Ho-Ho-Ho Holiday Parties? Survey Says Homeowners Unaware of Risks
- Dunmoyer to Lead State Government Affairs for Farmers, Zurich in U.S.
- CNA Surety Announces Resignation of Lewis, Chairman, Board of Directors
December 18, 2008
- Smaller Cars Making Strides in Safety, Insurance Group Reports
- SEC Moves to Regulate Some Equity Indexed Annuities
- Darwin, Swett Form Partnership for Managed Care Program
- Travelers Redesigns Design Professionals' Insurance Product
- Insurer: More Home Fires Occur During Holidays Than Any Other Time
- Hiscox Appoints Gadaleta, Leisz to Head Management Liability Division
December 17, 2008
- Forecast Pioneer Clark Says Short-Term Hurricane Models Overstate Losses
- Commercial Insurance Prices Dropped 4% in Q3, Reports Towers Perrin
- Supreme Court Allows State Suits Over 'Light' Cigarettes to Go Forward
- 'Judicial Hellhole' Report Pushes Need for Balanced Civil Justice System
- Study: Identifying At-Risk Auto Customers Critical for Carrier Retention
December 16, 2008
- Industry Profits Dove Massively through First Nine Months of 2008
- Supreme Court to Hear $500M Asbestos Case Against Travelers
- Lawsuit Seeks to Stop U.S. Bailout of AIG as Anti-Christian, Anti-U.S.
- Ex-General Re Chief Ferguson Sentenced 2 Years for Fraud
- Medical Liability Insurer Proassurance Buys Houston's Mid-Continent Agency
- Colo. Forecasters Expect Busy 2009 Hurricane Season
- AIG Sells Residential Mortgage-Backed Securities Portfolio to Government
- S&P Raises Chubb's Ratings to 'A+'
December 15, 2008
- S&P: Challenging Times Loom For U.S. Insurers in 2009
- New York Insurance Chief Sees Multiple Regulators for Credit Swaps
- Progressive Nixes 2008 Dividend as Year-End Loss Expected
December 12, 2008
- Gulf Coast States Collect More from Flood Insurance Than They Pay In
- Insurers' Backing Sought for Car Key That Jams Teen Drivers' Cell Phones
- U.S. Needs More Study on Risks of Nanotechnology: Research Council
- Maryland's Rep. Cummings Seeks Details on AIG 'Retention Payments'
- Federal Inspectors Complete Safety Reviews of Nation's Mines
December 11, 2008
- Insiders Say AIG Slashing Prices to Win Business in Moves That May Burn Rivals, Taxpayers
- AIG CEO Liddy Says Asset Sales May Be Delayed
- Economic Crisis Leaves States Less Ready to Handle Disasters
- Pole-Climbing Robots Could Save Lives of Construction Workers
- Judge: Class-Action Against Toy Makers Can Proceed
December 10, 2008
- AIG: Wall Street Journal Wrong on Report on $10 Billion Portfolio
- AIG Owes $10 Billion for Soured Trades, Wall Street Journal Reports
- Over-Reliance on Models One Lesson of Subprime Crisis, Actuaries Say
- Study: Independent Agency System Stable and Growing
- AIG's Lexington Loses Another Top Executive as Kelly Joins Ironshore
- Brownyard Offers Admitted Market for Alarm Program
December 9, 2008
- Study: Flood Program Premiums Do Not Adequately Reflect Flood Risk
- Five Firms Vying for AIG Japan Units
- Former Lexington Insurance CEO Kelley Named CEO at Ironshore
- AIG Names Eastwood to Replace Kelley as CEO at Lexington Insurance
- Report: D&O Market Braces For Steep Downturn
December 8, 2008
- Doctors Still Sleep Deprived Despite Hours Cap: U.S. Report
- S&P Warns of 'Multi-Notch Downgrades' on 5 Mortgage Insurers
- Ratings Recap: Phila. Consolid., AmCOMP, Medical Savings, Hospitals
December 5, 2008
- Ex-CEO Greenberg: AIG Needs Unified Plan Quickly to Recover
- Obama Laying Groundwork for Overhaul of U.S. Health Insurance
- The Hartford Soars on Higher Outlook; Strong Capital Reassures Investors
- Montpelier Group Licenses AIR Worldwide's U.S. Crop Model
- CLARIFICATION: Public Entity Claims Growth Due to Jump in Members
December 4, 2008
- Financial and Housing Crises, Soft Market to Challenge Insurers in 2009
- Premium Rating Errors Cost Auto Insurers $16 Billion, Report Claims
- New Federal Safety Rules Target Medically Unfit Truck, Bus Drivers
- Car Thieves Work Year Round, Even on Holidays, Warns Crime Bureau
- 1 in 3 Toys Have Toxic Chemicals, Kids' Safety Group Study Finds
- Prudential to Sell Securities Brokerage Business Stake to Wells Fargo
December 3, 2008
- AIG in Deal with U.S. Government to Terminate Some Debt Obligations
- FDA Cites Progress on Food Safety
- Financial Firms Sign Pact to Bar Lawsuits Over Employee Poaching
- Canada's Natural Gas Firm Tenaska Buys Back Interests from AIG
- Keystone Insurers Group Honors 3 Agency Partners
December 2, 2008
- Nation's Fire Departments Face Challenges in Staffing, Water Access
- Workers Comp, Liability Claims Against Public Sector Exploding
- Ratings: Ancon/Petroleum Casualty, Horace Mann, Great Northwest
- AIG Offers First Takaful Homeowners Insurance Product for U.S.
- Obama Inauguration May Raise Insurance, Legal Issues for Enterprising Homeowners
December 1, 2008