Tokio Marine & Fire Ins. Co, Japan’s largest p/c insurer, and global giant Swiss Re announced that they “have arranged a USD 450 million cat risk swap to cover losses from three natural perils.” The swaps, each of which is …
The Professional Insurance Agents of New Jersey, Inc. has vigorously defended the position of the R.J. Gaydos Insurance Agency, which has sued the National Consumer Insurance Co. for wrongfully terminating its agency agreement in 1997. A recent decision of the …
SAFECO announced it expects to report an operating loss for the second quarter of between $0.25 and 0.30 per share. This compares with analysts’ current consensus estimate of a loss of $0.19 per share, with some analysts estimating a quarterly …
According to the American Insurance Association (AIA), late last week, the California State Supreme Court unanimously ruled that businesses hiring contractors to perform work are not liable if an employee of the contractor is hurt or killed on the job. …
California’s Senate Transportation Committee rejected a bill on July 10 that would have mandated a Highway Patrol study on the link between cellular phone use and bad driving. The bill, which was authored by Assemblyman George Nakano (D-Torrance), was overridden …
A jury has awarded a record-setting claim for overtime for a class of Farmers Insurance Adjusters in the final amount of $90,009,208 for overtime pay in a class action suit in Oakland. More than 2,000 adjusters working for Farmers Insurance …
Companies that use AT&T’s Internet Data Centers and managed web hosting services are eligible for a new benefit — e-business insurance from Marsh Inc. that rewards AT&T enterprise hosting customers with preferred pricing and a streamlined approval process. Recognizing that …
A study analyzing insured hurricane damages from all hurricanes which impacted the continental U.S. in the 20th Century, disagrees with some analysts’ claims who stated that global warming has caused gains in catastrophic hurricane damages. The study from Tillinghast-Towers Perrin …
The National Association of Mutual Insurance Companies (NAMIC) encouraged the National Conference of Insurance Legislators (NCOIL) to introduce its Insurance Compliance Self-Evaluative Privilege Model Act in state legislatures next year. The act assures the confidentiality of internal audit reports voluntarily …
The National Association of Independent Insurers (NAII) is urging a federal agency to take a more flexible, multi-level approach in its revision of the ergonomics standard. The ergonomics standard, which was developed to provide regulations in the workplace regarding the …
