National News for June 2005 AIG’s First Quarter Beats Analysts’ Expectations Failed Reciprocal of America Executives Sentenced for Role in Fraud New Broker Integro Adds Lowenthal as Chief Information Officer Treasury Report Opposes Renewal of Terrorism Risk Insurance Act Treasury Report on Terrorism Insurance: Exec Summary Businesses Hit Treasury Terrorism Insurance Report Marsh Names Sinnott Vice Chairman National Alliance Announces 2005 Outstanding CSR of the Year Award Winners A.M. Best Assigns FSR to Markel Corp; Outlook Stable American Hobbyist Adds Online Rating, Submission to Site Agents Oppose Crop Insurance Premium Reduction Plan PIA Sponsoring Program to Aid Agents in Taking Back Personal Lines Market Share from Direct Writers The Hartford’s New D&O Product Protects Independent Directors Hurzeler Receives IMCA Golden Torch Award at Annual Meeting AIG Files Delayed Annual Proxy Statement; Greenberg Tallied $8 Million in Bonuses Best Study: Agents, Insurers Raid Competition for New Employees Primavera Joins Willis as Senior VP in Construction Practice Proxix Solutions Unveils Database for Assessing Risk in Urban/Wildland Areas Brown & Brown Moves Lawyer’s PL Program to Greenwich Students Find Americans Willing to Pay for ID Theft Insurance Justice Department and Actuaries’ Captive Settle Antitrust Suit Tillinghast to Launch Commercial Lines Survey w/ Webcast on July 6 GE Realigns Business Units; Names 3 Vice Chairmen Zurich N.A. Names Controller/Regional Group Controller Report: U.S. Reinsurance Market Posts 105.5% Combined Ratio in 2004 MassMutual Alleges ‘Willful Abuse of Authority’ in Firing CEO O’Connell WTC Twin Towers Investigators Urge Improved Skyscraper Safety IMG to Refund U.S. Grand Prix Tickets AIG Names Comptroller, Treasurer; Adopts Independent Director By-Laws Big “I” Disputes OFCC Group Inaccuracies on Optional Federal Regulation of Insurance Conning: ‘Right States’ Approach Works for P/C Insurers Bank Insurance Brokerage Fee Income Up 7.5% in 2005 1Q Schinnerer Moves K&R Program to Great American St. Paul Travelers Has Online Rating for Standalone Equipment Breakdown Study Shows Suzuki Motorcycle Is Risky Business Venture Programs Expands Hospitality Program with Package Solution RAND Corp: U.S. Terrorism Insurance System Falling Short GE Receives General Subpoena Regarding Finite Insurance Zurich N.A. Appoints Seven Executives to New Regional Positions MassMutual Reviews Direction as Ouster of Previous CEO Draws Scrutiny InsWeb Launches Agent Lead Generation Program St. Paul Travelers and Kemper Reach Co-Surety Settlement Asbestos Reform Group Launches National PR Campaign NAMIC Glad Full SOX ‘Off the Table,’ Cost, Applicability Remain at Issue NAIC Requests Balanced Approach to Insurance Regulation at Hearing Agent Leader Rusbuldt Speaks Out Against Hodgepodge of Disclosure Rules by Insurers Top Corporate Execs Stress Moving Beyond Spitzer Risk Retention Group Premium Soars Above $2 Billion PCI Urging House to Move Forward on Regulatory Modernization Insurers, Military at Odds over Workers’ Comp Program for Civilian Contractors Gold Seal Introduces Web-based Agency Internal Audit Program Big ‘I’ States Opposition to Optional Federal Charter Plan S&P Conference: With End of Contingent Commissions, Brokers Find Ways to Plug the Hole Second General Re Executive Pleads Guilty in AIG Fraud Case Marsh Decides to Keep Businesses States Say Joint Bank-Insurer Regulatory Efforts Paying Dividends States Close In on Finite Reinsurance Disclosure; N.Y. Agrees to Adopt Model Compensation Study Shows More Agencies Hiring Risk Managers AIA Names Former Montana Gov. Marc Racicot as President Chubb Introduces New High-Limit Surety Bond Product Smith Follows Greenberg, Resigns from AIG Board of Directors New Broker Integro Appoints Key Executives from Marsh NBIS Names Savarese Chief Underwriting Officer Greenberg Officially Resigns from AIG Board Study Claims Cost of SOX to Mutual Insurers Greatly Outweighs Benefit Justice Dept. Limits Prosecutions Under Medical Privacy Law Conning Reports Med-Mal Returns to Profitability in 2006 S&P Mid-Year 2005 Report on Outlook for U.S. Reinsurers – Sector Stable, “But Only Because Of Parental Support” What Happened to the Rogue Underwriters? Gold Seal Risk Management Launches in U.S. Wharton Study Finds Agents, Brokers Play Critical Role in Buying Process 15 Firms Charged With Directed Brokerage Violations, Fined $34 Million IRISK Solutions Promises Risk Management for Middle Market Firms Willis Exec: Human Resources Pros Face Expanded Role The Hartford Adds Genetic Discrimination to EPL Coverage SEC Complaint Details General Re Exec Role in AIG Reinsurance Scheme Insurance Educators Create New Professional Training Designation Eckert Joins Professional Underwriters as VP for Municipal Programs Insurance Institute for Highway Safety Names Side Impact ‘Best Picks’ General Re Exec Pleads Guilty to Criminal Conspiracy Chubb Launches Not-for-Profit Organization Portfolio Package NAIC Appoints Palmer as Managing Director of Government Relations USI Holdings Appoints Gardner as Compliance Director Brown & Brown Acquires U.S. Risk’s Governmental Programs Division Aon Supports Fitch Report on TRIA Extension for Commercial Real Estate MassMutual Abruptly Fires CEO; Reese, Birle Take Over S&P Trims AIG Ratings Hull Promotes Ramsey to VP, National Personal Lines S&P: Personal Lines Sector Outlook Stable Despite Market Softening The Hartford Chosen as Preferred Commercial Insurer by National Association of Wholesaler-Distributors Study Reports Medical Malpractice Payouts Rise Only 4%; Doctors Go to Cap States OneBeacon Purchases Renewal Rights for Chubb’s Hospital Professional Liability, Managed Care E&O Books AIA Calls for Better Coordination of Insurance Department Investigations National News Archives
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