Insurance Journal » United States http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 24 May 2013 10:21:01 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Hiscox Appoints Walter as U.S. CEO; Head as Chief Underwriting Officer http://www.insurancejournal.com/news/national/2012/03/12/238249.htm Mon, 12 Mar 2012 15:21:12 +0000 http://www.insurancejournal.com/?p=238249 Hiscox made a number of changes to its U.S. Management Team, appointing a new CEO and chief underwriting officer for Hiscox USA. Ben Walter, current chief operating officer of Hiscox USA has been promoted to CEO effective April 1, 2012. …

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]]> Australia Flood Damage Seen as Long-term; Rail, Road Links Destroyed http://www.insurancejournal.com/news/international/2011/01/07/116216.htm Thu, 06 Jan 2011 00:00:00 +0000 http://www.insurancejournal.com/?p=116216 Australia’s flood-stricken coal industry may be disrupted for months after key rail and road links were washed away, while some infrastructure could take years to repair, authorities said on Friday. The floods have swamped mines in Queensland State, paralyzing operations …

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]]> Oklahoma Insurance Commissioner-Elect Names Staff Members http://www.insurancejournal.com/news/southcentral/2011/01/07/116240.htm Thu, 06 Jan 2011 00:00:00 +0000 http://www.insurancejournal.com/?p=116240 Incoming Oklahoma Insurance Commissioner John Doak has appointed 10 members of his staff to lead the Oklahoma Insurance Department. Joining the team are: Mike Rhoads as deputy commissioner of Health Insurance; Denise Engle as deputy commissioner of Workers’ Compensation; Former …

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]]> Marsh & McLennan Agency Acquires Minnesota-based RJF Agencies http://www.insurancejournal.com/news/midwest/2011/01/06/116174.htm Wed, 05 Jan 2011 00:00:00 +0000 http://www.insurancejournal.com/?p=116174 Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., announced it has RJF Agencies Inc., one of the largest independent insurance agencies in the upper Midwest. Terms of the transaction were not disclosed. Founded in 1986, …

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]]> Big Drop in Road Deaths Tied to Recession, Seat Belts http://www.insurancejournal.com/news/national/2011/01/06/116132.htm Wed, 05 Jan 2011 00:00:00 +0000 Maggie Fox http://www.insurancejournal.com/?p=116132 Air bags and the economic recession have contributed to the biggest drop in road deaths in the United States since World War II, U.S. researchers said Tuesday. Changes in driving patterns and safety features both contributed to a 22 percent …

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]]> Texas Insurance Commissioner Geeslin to Step Down http://www.insurancejournal.com/news/southcentral/2011/01/05/116172.htm Tue, 04 Jan 2011 00:00:00 +0000 http://www.insurancejournal.com/?p=116172 Texas Insurance Commissioner Mike Geeslin has announced that he will not seek another term as head of the Texas Department of Insurance. His term ends Feb. 1, 2011. Geeslin has been with TDI for eight years, and has served as …

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]]> Big Drop in Road Deaths Tied to Recession, Seat Belts http://www.insurancejournal.com/news/national/2011/01/05/116131.htm Tue, 04 Jan 2011 00:00:00 +0000 Maggie Fox http://www.insurancejournal.com/?p=116131 Air bags and the economic recession have contributed to the biggest drop in road deaths in the United States since World War II, U.S. researchers said Tuesday. Changes in driving patterns and safety features both contributed to a 22 percent …

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]]> Cunningham Lindsey Acquires Loss Adjusting Unit of GAB Robins NA http://www.insurancejournal.com/news/national/2011/01/05/116149.htm Tue, 04 Jan 2011 00:00:00 +0000 http://www.insurancejournal.com/?p=116149 Cunningham Lindsey has acquired the U.S. loss adjusting business of GAB Robins North America Inc. The global loss adjusting and claims management services company said the addition of the GAB Robins loss adjusting business significantly expands Cunningham Lindsey’s operation in …

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]]> Brown & Brown Buys Balcos, Mike Howard Insurance in Washington http://www.insurancejournal.com/news/west/2011/01/05/116168.htm Tue, 04 Jan 2011 00:00:00 +0000 http://www.insurancejournal.com/?p=116168 J. Scott Penny, regional president of Brown & Brown Inc.; Mark S. Balcos and Scott N. Balcos, principals of Balcos Insurance, Inc.; and Michael P. Howard, principal of M C H, Inc. of Seattle, d/b/a Mike Howard Insurance, today announced …

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]]> Florida Approves Lower Collateral for Renaissance Re http://www.insurancejournal.com/news/southeast/2011/01/04/116119.htm Mon, 03 Jan 2011 00:00:00 +0000 http://www.insurancejournal.com/?p=116119 Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that authorized the Office of Insurance Regulation to establish lower collateral requirements for non-United States based …

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]]> Hudson Resigning as Ohio Insurance Director http://www.insurancejournal.com/news/midwest/2011/01/04/116123.htm Mon, 03 Jan 2011 00:00:00 +0000 http://www.insurancejournal.com/?p=116123 Ohio Department of Insurance Director Mary Jo Hudson has announced her resignation effective Jan. 10, 2011. Her final work day will be Jan. 7. “I am proud of the many changes that we have implemented over the past four years …

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]]> Set yourself apart from 90% of Americans http://www.insurancejournal.com/blogs/salesiq/2011/01/03/116094.htm Mon, 03 Jan 2011 05:00:00 +0000 David Connolly http://www.insurancejournal.com/?p=116094 In my personal reading and research I’ve come across many books from famous sales and personal performance Guru’s that quote a famous Yale study that extol the virtues of setting goals. I have even quoted this survey to give credence …

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]]> U.S. Analyst: China May Be ‘Likely Bright Spot’ in Asia Climate Action http://www.insurancejournal.com/news/international/2010/12/31/116055.htm Thu, 30 Dec 2010 00:00:00 +0000 David Fogarty http://www.insurancejournal.com/?p=116055 The outcome of U.N. climate talks in Mexico this month should boost steps in Asia to curb greenhouse gas emissions, with China a likely bright spot in 2011, a senior analyst at a leading U.S. think tank said. The talks …

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]]> Six Keys to Harleysville’s Turnaround http://www.insurancejournal.com/news/east/2010/12/31/116059.htm Thu, 30 Dec 2010 00:00:00 +0000 Kenneth J. St. Onge http://www.insurancejournal.com/?p=116059 Six years ago, Harleysville Group was in need of a big change. The Pennsylvania-based insurer had just come out of the worst performing year in its history. That’s when newly appointed CEO Michael Browne — who declared the company’s performance …

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]]> 2010 Was Year of 20 Million Recalls for Car Makers http://www.insurancejournal.com/news/national/2010/12/31/116063.htm Thu, 30 Dec 2010 00:00:00 +0000 Ken Thomas http://www.insurancejournal.com/?p=116063 Automakers recalled about 20 million vehicles in 2010, led by high-profile recalls by Toyota that prompted new scrutiny of the auto industry’s safety record. The number of recalls this year was the largest in the United States since 2004, according …

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]]> Obesity Increases the Risk of Disabling Workplace Injuries http://www.insurancejournal.com/news/national/2010/12/31/116080.htm Thu, 30 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=116080 Recent research confirms anecdotal data that work-related injuries are far more costly if an injured worker is obese. In fact, a claim with an obese diagnosis can be 30 times to 60 times more expensive than a comparable claim incurred …

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]]> Texas Q1 2011 Workers’ Comp Discount, Interest Rate Set at 3.8% http://www.insurancejournal.com/news/southcentral/2010/12/30/116011.htm Wed, 29 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=116011 The Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) has set at 3.8 percent the workers’ compensation interest and discount rate for the first quarter of 2011. This rate is computed by using the treasury constant maturity rate for …

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]]> Reinsurance Renewal Rates On the Decline, Reports Claim http://www.insurancejournal.com/news/national/2010/12/30/116034.htm Wed, 29 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=116034 Reinsurance rates for 2011 are falling at the same or greater pace than traditional insurers and further softening of the market is to come, according to two industry reports. For the second year in a row, global reinsurance property catastrophe …

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]]> Ratings Recap: Allianz Global (US), Balboa Group, North Light, Heritage http://www.insurancejournal.com/news/national/2010/12/28/115970.htm Mon, 27 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115970 A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings of “aa” of Allianz Global Corporate & Specialty North America (AGCS NA), which includes Allianz Global Risk US Insurance Company, Allianz Underwriters Insurance Company, …

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]]> Best Assigns Rating to Allianz Risk Transfer AG http://www.insurancejournal.com/news/international/2010/12/23/115908.htm Wed, 22 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115908 A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Allianz Global Corporate & Specialty AG (AGCS AG). Best also affirmed the FSR of …

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]]> Southeast’s Top Stories: Disasters That Happened and 1 That Didn’t http://www.insurancejournal.com/news/southeast/2010/12/23/115915.htm Wed, 22 Dec 2010 00:00:00 +0000 Andrew G. Simpson http://www.insurancejournal.com/?p=115915 The top insurance stories in the Southeast in 2010 included several disasters that caused considerable death and destruction in the region and one that didn’t do as much harm as feared. The April 20 blowout of BP’s Macondo well while …

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]]> Ratings Recap: Beazley (U.S.), Atradius Trade Credit, HDI-Gerling America http://www.insurancejournal.com/news/national/2010/12/23/115920.htm Wed, 22 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115920 A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Connecticut-based Beazley Insurance Company, Inc. (BICI), both with stable outlooks. These ratings reflect “BICI’s solid stand-alone risk-adjusted capitalization, in addition to …

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]]> Democratic Congress Productive But Unpopular http://www.insurancejournal.com/news/national/2010/12/23/115927.htm Wed, 22 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115927 Perhaps never before has a U.S. Congress done more and been liked less than the one controlled by President Barack Obama’s Democrats that ended Wednesday. It wrapped up its two-year legislative cycle with a crush of action in its final …

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]]> 2010′s Top Insurance Stories in the West http://www.insurancejournal.com/news/west/2010/12/23/115934.htm Wed, 22 Dec 2010 00:00:00 +0000 Patricia-Anne Tom http://www.insurancejournal.com/?p=115934 In 2009, independent insurance agents and brokers faced a “perfect storm” with the economic downturn, premiums at a fraction of what they used to be, and unemployment and home foreclosure rates up, said Kevin Baker of San Jose, Calif.-based Suhr …

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]]> Marsh Agency Buys Pennsylvania’s Trion http://www.insurancejournal.com/news/east/2010/12/22/115878.htm Tue, 21 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115878 Marsh’s retail agency business has acquired Trion Group Inc., the largest privately held employee benefits specialist in the United States with $74 million in annual revenue. Terms of the deal were not disclosed. Conshohocken, Pennsylvania-based Trion offers consulting, brokerage, group …

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]]> President Obama Expected to Sign Food Safety Overhaul Bill http://www.insurancejournal.com/news/national/2010/12/22/115885.htm Tue, 21 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115885 The ailing U.S. food safety system moved closer Tuesday toward its biggest overhaul in more than 70 years after the House passed legislation that would increase inspections and give regulators the power to recall tainted foods. The House voted 215-144 …

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]]> Arthur J. Gallagher & Co. Acquires Tribeca Strategic Advisors http://www.insurancejournal.com/news/west/2010/12/22/115895.htm Tue, 21 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115895 Itasca, Ill.-based Arthur J. Gallagher & Co.announced it has acquired Tribeca Strategic Advisors LLC located in Mesa, Ariz. Terms of this transaction were not disclosed. Established in 1999, Tribeca is an alternative risk and captive consulting and management company providing …

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]]> Alabama Tornado Survivors Still Coping 10 Years Later http://www.insurancejournal.com/news/southeast/2010/12/22/115793.htm Tue, 21 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115793 Whitney Crowder doesn’t remember the day her father died. What happened Dec. 16, 2000, has gone down in state history: Eleven people, including her father and baby brother, died when an F4 tornado hit south Tuscaloosa. It was the single …

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]]> SPECIAL REUTERS REPORT: Inside AIG’s Tortuous Turnaround http://www.insurancejournal.com/news/national/2010/12/22/115865.htm Tue, 21 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115865 During a rainstorm in Washington in early 2009, amid the furor over Wall Street’s post-bailout bonuses, an American International Group employee pulled out an umbrella that had the insurer’s name on it. “Somebody came by, grabbed the umbrella and broke …

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]]> $81M Punitive Damages in Massachusetts Cigarette Case http://www.insurancejournal.com/news/east/2010/12/21/115852.htm Mon, 20 Dec 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=115852 A tobacco company that had tried to hook black children on cigarettes was ordered to pay $81 million in punitive damages to the estate and son of a Boston woman who started smoking at age 13, in what an attorney …

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