National News

When P/C Insurance Carriers Can Cancel: The ‘Underwriting Period’ by State

Every state extends insurance carriers the right to cancel a newly-written policy during the first days of the policy period. This is commonly known as the new policy “underwriting period.” An underwriting period allows the insurance carrier time to inspect …

Honda: Require Car Owners to Comply with Recalls

Honda Motor Co. wants regulators to make U.S. motorists comply with carmakers’ recall notices. Amid reports of people killed because they didn’t know their cars had a defect, an executive with the Japan-based carmaker urged state and federal regulators to …

XL Group Adds Fleet Safety Service to Construction Insurance

As nearly half of all construction fatalities involve a vehicle, XL Group North America Construction has added fleet safety training services to its construction insurance business in collaboration with Issaquah, Washington-based SWERVE Fleet Training. Contractors face significant vehicle risks both …

How Carriers Are Handling Property Cat Renewals, Terrorism, Ebola: NAPCO

Property/catastrophe insurers have been focused on winning new business, which means new customers are seeing bigger price cuts, according to a market report from a wholesale broker specializing in catastrophe risk placements. NAPCO’s Fall 2014 State of the Market report …

Hospitals Improvise on Safety to Treat Ebola Patients

What does it take to Ebola-proof a hospital? Over the past few months, U.S. medical centers have spent millions of dollars putting together a plan to treat patients with the scary, but extremely rare disease. To a large extent, it …

Montana’s Lindeen Elected NAIC President

Members of the National Association of Insurance Commissioners (NAIC) have elected 2015 officers who  will assume their duties on Jan. 1, 2015. President: Montana State Auditor and Commissioner of Securities and Insurance Monica J. Lindeen President-Elect: Pennsylvania Insurance Commissioner Michael …

8 Million Cars Recalled for Air Bags; Only 6% Repaired: Bloomberg

Honda Motor Co., Toyota Motor Corp. and other major automakers have fixed only a fraction of the almost 8 million cars called back in the last two years to replace potentially defective Takata Corp. air bags. About 6 percent of …

Staples Still Tallying Costs of Data Breach

Staples Inc., the world’s largest office-supply chain, said it can’t yet “reasonably” estimate the potential losses and expenses it will incur in connection with the possible credit-card data breach disclosed last month. While the company said it believes the malware …

Farm Bill Costs Soar Despite Great Harvest

U.S. farmers are about to reap a bumper harvest not just in corn and soybeans but also in new subsidies that could soar to $10 billion, blowing a hole in the government’s promise that its new five-year farm bill would …

D&O Primary, Excess Layer Pricing Moving in Opposite Directions: Aon

Overall price declines for directors and officers liability insurance programs of publicly traded companies continue to be driven by excess-layer price drops, Aon’s Financial Services Group said in a recent report. D&O insurance pricing fell 4.4 percent overall during second-quarter …

National News Archives by Month