Liability insurance is not designed to cover each drink served to an already intoxicated customer as a separate incident, with maximum policy limits applying separately to each one, according to the National Association of Independent Insurers. The NAII filed a …
Those California drivers who have garnered tickets and accidents are likely to see a hike in their auto insurance rates in the months to come. According to the Los Angeles Times, those insurers who were chopping rates two or three …
The 2001 Best Practices Study, released recently by the Independent Insurance Agents of America (IIAA), finds that technology is playing an ever-expanding and critical role in the success of Best Practices agencies and brokerages, according to Madelyn H. Flannagan, IIAA …
The ACORD User Groups Information Exchange (AUGIE) has been working with insurance companies, vendors and the national agency management system user groups to develop a comprehensive survey in an effort to determine what agents want out of their automation system …
Kansas-based Planet Salvage, Inc., an online marketplace for the automotive recycled parts and salvage vehicle industries, announced that the company has signed a one-year contract with Universal Underwriters Group (UUG), a provider of insurance and financial services for automotive-related businesses, …
Stating that thousands of policy amendments sent through the mail during the past decade could be ruled invalid if an Illinois appellate court decision is not overturned, the National Association of Independent Insurers (NAII) urged the Illinois Supreme Court to …
Bermuda’s PXRE Group Ltd. issued a statement confirming that it had ended discussions with Select Reinsurance Ltd. aimed at establishing a business combination between the two companies. Select holds approximately 9.9 percent of PXRE’s outstanding common shares, and the two …
Bermuda-based Sovereign Risk Insurance Ltd. announced the launch of its “Real Exchange Rate Liquidity (REX) product,” designed to “partially mitigate the risks that large currency devaluations will impair an infrastructure project’s ability to make debt service repayments.” Sovereign, a joint …
American International Group and Chubb Corp. have joined with GS Capital Partners 2000, L.P., an investment fund managed by Goldman Sachs & Co.to establish Allied World Assurance Holdings Ltd. with a total equity capital of $1.5 billion. The holding company …
U.S. Attorney General John Ashcroft has named Kenneth Feinberg, a Washington lawyer and former aide to Senator Edward Kennedy (D-Mass.), to head the Victims’ Compensation Fund, established by the government to help the thousands of people affected by September’s terrorist …
