National News

Terrorism Insurance Bill Tagged with Community Bank Provision

When the U.S. House of Representatives approved a terrorism insurance bill last week, it contained a little-noticed provision that would require at least one member of the Federal Reserve’s board to have community banking experience. That provision appears destined to …

Carrier Management, Insurance Journal Win Folio Media Awards

Wells Media Group’s newest publication for property/casualty insurance industry, Carrier Management, is making its mark in the publishing world, garnering three honors at last week’s 2014 Eddie and Ozzie Awards. Wells Media Group’s Insurance Journal also scored a win. The …

When P/C Insurance Carriers Can Cancel: Mid-term Cancellation Provisions by State

Even after the underwriting period has ended, insurance carriers have the opportunity to cancel a property/casualty insurance policy prior to the renewal. However, the reasons insurance carriers are allowed to use to effectuate these mid-term cancellations are often strictly limited …

Senate Expected to Follow House, Approve Terrorism Insurance Renewal

Supporters of renewing the federal terrorism reinsurance program are optimistic that the Senate will follow the House and approve it, however the exact day and time of the Senate vote this week remains unclear. In addition to dealing with the …

Sen. Collins Finds Route to Help Trucking Industry

For the second time in three years, the trucking industry has found a friend in Senator Susan Collins. The Maine Republican got a rider attached to the spending bill approved over the weekend so truckers will no longer have to …

Sony Movie Breach Could Cost $100M But Less Than 2011 Playstation Breach

Sony Corp.’s movie studio could face tens of millions of dollars in costs from the massive computer hack that hobbled its operations and exposed sensitive data, according to cybersecurity experts who have studied past breaches. The tab will be less …

Allianz Announces New Leadership Team for Combined Fireman’s Fund, AGCS NA

German insurance giant Allianz announced a new team that will lead the combined Fireman’s Fund and Allianz Global Corporate & Specialty North American business beginning in 2015. Andrew Torrance, current president and CEO of Fireman’s Fund Insurance Company (FFIC), will …

House $1.1 Trillion Plan Includes Deals on Banks, Trucks, Adjusters, Campaign Funds

The House passed a $1.1 trillion spending bill after a day of disarray and just hours before U.S. government funding was set to run out. The vote last night was 219-206. With current government funding ending at midnight, the House …

Senator Criticizes ‘Unclean’ Terrorism Insurance Bill Passed by House

Democratic U.S. Senator Charles Schumer on Thursday called for the U.S. House of Representatives to extend a federal terrorism insurance program by passing a “clean” bill with no controversial extra provisions. The House on Wednesday overwhelmingly approved a bill that …

Delay in Drone Rules Jeopardizes Research, Competitiveness, Congress Told

Commercial drone flights are taking off in other countries while the U.S. lags behind in developing safety regulations that would permit unmanned aircraft operations by a wide array of industries, witnesses told a House panel this week. The Federal Aviation …

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