Fraud Roundup
Mo. AG sues man posing as lawyer; victim sought insurance claim Missouri Attorney General Jay Nixon has filed suit against a Springfield man who allegedly took advantage of a local woman by claiming to be an attorney for the NAACP. …
SOLAR STORM IN 2012 COULD CREATE BLACKOUTS, AFFECT GPS SYSTEMS
The next 11-year solar storm cycle is expected to be 30 to 50 percent stronger than the current one, and could slow satellite orbits, disrupt communications, bring down power systems, and force airplanes to take alternate routes to avoid the …
New Markets
Contractors Construction LiabilityNuts & Bolts: Lincoln Insurance Company (A.M. Best’s “A-” Rated) increases its role in the marketplace by teaming with First Capital Group’s Midwest Contractors Construction Program. The program is available in Illinois, Indiana, Wisconsin, Michigan, Iowa Oklahoma, Missouri, …
Solve the multi-state surplus tax problem now
The proper allocation and remittance of surplus lines premium taxes to the states on multi-state risks has been the most vexing problem faced by surplus lines brokers during the nearly 116 year history of the industry. In recent years, the …
U.S. Supreme Court nixes ethics challenge to State Farm ruling
The Supreme Court has refused to consider whether a top judge in Illinois improperly voted to throw out a $1 billion judgment against State Farm Insurance Co. after accepting campaign donations from company lawyers and executives. The case raised an …
Sea change
As Midwesterners we sometimes forget the problems that exist in other coastal regions–until we realize how they impact our businesses. For example, in Florida, one decried a system in which wealthy waterfront property owners are being subsidized by less affluent …
Catching up with region’s insurance politics
In the Northeastern and Atlantic states, elected politicians are in the thick of deciding on legislation that could affect insurers, insurance agents and their insureds. New Jersey lawmakers are considering restoring coverage under the New Jersey Surplus Lines Insurance Guaranty …
Citizens not banking on insurance
Using June 30, 2005 figures from bank holding companies, Michael White, president of Michael White Associates (www.bankinsurance.com) in Radnor, Pa., shows how relatively little insurance meant to Citizens: Citizens Financial Group, with assets of $148.5 billion, ranks 21st in the …
INSURERS MOVE TO LIMIT R.I. LEAD CLEANUP COSTS
Insurers for three former lead paint manufacturers are seeking to limit insurance policies held by the paint companies. Underwriters at Lloyd’s of London filed the lawsuit in New York State Supreme Court last month after a Rhode Island jury decided …
Atlantic Mutual ratings fall as surplus drops $100 million
Ratings analysts who downgraded personal lines insurer Atlantic Mutual earlier this month will be meeting with the company in the coming weeks to review results of the fourth quarter and all of 2005 before deciding what to do next. “We …