National News for February 2009 Alliant Insurance Services Expands Leadership Team State Farm: $6.3B P/C Underwriting Loss, $2.1B Operating Loss in 2008 Easing Government Aid Terms Among Options Discussed by AIG, U.S. Finnis Named Executive VP, National Property Leader at Willis HRH Homeland Chief Orders Gulf Coast Hurricane Recovery Review U.S. Senate Panel Sets March 5 Hearing on AIG AIG Mulls Further Government Stakes As Auction Deadline Looms Financial Firms Facing Highest D&O Premiums as Market Hardens A Bruised Warren Buffett to Look Ahead in Annual Letter Gen Re to Pay $72M for Finite Reinsurance Transaction Zurich Integrated Products Expands into Southeast, South Central U.S. Layoffs Leave Law Firms Vulnerable to Lawsuits, Exec Says U.S. Considering ‘Controlled Breakup’ of AIG To Keep It Afloat AIG Gets $500 Million Bids for Asset Management Business AIG May Rethink Strategy of Asset Sales in Tough Markets O’Sullivan Says Zurich Financial Sees Tougher 2009 SeaBright Revenue Up 5.2% in Q4; Up 5% for Year-End 2008 Silverman to Head Hiscox Inland Marine Insurance for U.S. Market Marsh Develops $500M Insurance Program for Gulf Coast Energy Firms W.R. Berkley Forms Agribusiness Insurance Unit; Names Shaw President Chubb Offers Coverage to Upgrade Green After Home Loss AAIS Introduces Standardized Forms for Equipment Sales, Rental Operations U.S. Treasury Declines Comment on Additional Funds for AIG, Citi AIG Reportedly Facing $60 Billion Loss; In Talks For More Government Aid Insurance Industry Advises Small Businesses Not to Skimp on Coverage Equipment Breakdown Reinsurer to Pay Certificate, Inspection Costs Berkshire Hathaway Dogged by Derivatives, Accounting Rules Prudential In Lead to Acquire AIG Japanese Life Insurance Units Allstate, State Farm Dismissed from Case Charging Katrina Overbilling U.S. Regulator Sees Future Role for Mortgage Insurance Industry Travelers Broadens Coverage for Private/Mutual Insurers Execs Credit Risk Management for Minimizing Recession’s Impact Unitrin Insurance Completes Acquisition of Direct Response for $200M Valiant Insurance Forms Excess & Surplus Lines Company RiskProNet Elects Clarke as President WKF&C Offers New Vacancy Program MBIA Shifts Bond Insurance Business to New Public Finance Company How to Make Money on Property/Casualty Insurance Stocks Beazley Acquiring The Hartford’s Surplus Lines Insurer, First State AIG Winding Down Troublesome Financial Products Operation Venture Launches New Sportsman Insurance Program Best’s Insurer Rating Upgrades Barely Outpaced Downgrades in 2008 Zurich Taps Gow to Head Specialty E&O Unit Merchants Insurance Group’s New E&S Subsidiary OK’d in 10 States USAA Closing Sacramento, Norfolk Offices Ratings Recap: CAPCO, Farmers Mutual Great American Adds Binding Option to Web Site Large Pickups Fare Poorly in Insurance Institute Safety Crash Tests Herbert H. Landy Agency Offers New Real Estate E&O Program Marsh Sees Growth in 2009 Boosted by Acquisitions Judge: Defense Insurance Act Bars Suits Against Subcontractor Blackwater Judge Orders Tougher Mine Safety Rules to Improve Rescue Teams First Trial Dates Set For FEMA Trailer Suits in New Orleans S&P Affirms Mercury General Ratings; Revises Outlook to Negative Marsh & McLennan Profits Up for 2008; Down 9% in Q4 Surplus Lines Reform Legislation Reintroduced in Congress Report: AIG in Talks to Sell Auto Insurance Unit to Zurich How Food Safety Officials Cracked the Peanut Poison Case Consumers Miss More Debt Payments; Lenders Move to Stem Losses Identity Theft On the Rise But Costs per Incident Fall Sharply, Report Finds S&P Lowers Hartford’s Ratings to ‘A-’; On CreditWatch Negative Karen Clark & Co. Launches Mobile Inspection Technology Panetta Resigns Zenith National Board to Head CIA Treasury to Approve TARP Bailout Funds for Life Insurance Companies Senior Market Sales, CalSurance Offer Discounted E&O for Insurance Agents New Best Research Report: P/C Profitability Depends on Discipline Feds OK Exemptions from Stricter Anti-Lead Toy Safety Rules The Hanover Group Sees Profits Shrink Auto Deaths Decline in 40 States; Less Driving, More Seat Belt Use Cited U.S. Lawmakers Vow More Food Safety Funds As Peanut Recalls Set Record The Hartford Reports Loss for 2008, ‘Most Challenging’ Year in History Aon Hit With Q4 Benfield Merger Costs But Broker Commissions Grow Slightly Burnett Holdings Joins QBE Best Affirms Harleysville Ratings; Outlook Positive Congress May Probe AIG Pricing, Pay Practices S&P Rates Phila. Indemnity, Phila. Insurance; ‘AA-’; Outlook Stable Tower Group Completes Acquisition of CastlePoint Holdings Surplus Lines Association Launches Executive Leadership School California’s W. Brown to Underwrite Aviation Insurance For Catlin US U.S. Senate Rejects Cutting Company Repatriation Tax Rate Markel’s Ratings ‘Unaffected’ by Investment Losses Says S&P Ratings Roundup: Aflac, Scottish Re (U.S.), Hanover Fire, Omega Sloan Mason Adds Ready-Mix Concrete, Asphalt, Aggregate Package Report Finds Cat Bond Market Resilient in Financial, Property Catastrophes Those Dashed Lines on Roads Are Longer Than Drivers Think Chubb Offers New Employment Practices Endorsements Best Sees No Ratings Change for Allstate Insurance, Allstate Financial Fitch Downgrades Allstate Corp. and its Subs; Outlook Remains Negative The Main Street America Group Introduces Main Line BOP American E&S Insurance Offers Professional Liability Program 2008 Insurance Fraud Hall of Shame Report: AIG Eyes Federal Backstop on Assets, Recapitalization Options Greenberg Fights New York AG to Keep Reinsurance Testimony Private Brownyard Launches New Web-Based Sales Tools for Producers Venture Introduces New Professional, Management Liability Unit Final Call: Who’s Worth What in the Independent Agency System? Agency Ideas Newsletter Celebrates 20 Years; Redesigns Web Site National News Archives
Sign up to receive insurance news alerts!
Andrea WellsAgency Compensation Playbook: 2013 Agency Salary Survey
Andrew G. SimpsonHow Process Improvement Drives Agency Profitability
Stephanie JonesThe Acquisition Cycle
Don JerglerIndustry Predictions
Chris BurandReasonable Compensation
