Insurance regulatory reform efforts on Capitol Hill took a giant leap forward with the recent House passage of HR 1065, the Non-Admitted and Reinsurance Reform Act of 2007. Sponsored by Rep. Dennis Moore, D-Kan., and Rep. Ginny Brown-Waite, R-Florida, HR …
The FBI is gathering and sorting information about Americans to help search for potential terrorists, insurance cheats and crooked pharmacists, according to a government report. Records about identity thefts, real estate transactions, motor vehicle accidents and complaints about Internet drug …
One of the most confusing components of an employer’s workers’ compensation policy is the experience modification factor. Employers watch it increase and decrease from year to year without much understanding of how it works and what they can do to …
Stock Prices: Commercial insurers’ stocks were up an impressive 8 percent for the second quarter of 2007. Much of the increase can be attributed to the high premium which was paid for Ohio Casualty Corp. (Nasdaq:OCAS) by Liberty Mutual Group. …
The Bush administration plans to review the U.S. government’s regulatory system for financial institutions with the goal of making changes to better reflect modern markets. Treasury Secretary Henry Paulson said the review, which will be conducted by officials at his …
Bermuda shorted as more U.S. captives form onshore, Aon reports Bermuda’s reign as the undisputed global leader among captive domiciles is being challenged by U.S. companies that are increasingly leaning toward onshore domiciles for their captive insurance companies. That is …
$5 million Amount the Oregon Department of Consumer and Business Services is fining nine insurers in the American International Group for numerous violations of Oregon insurance and workers’ compensation laws, some dating back to 1985. AIG companies have already shown …
Agency-company relationships are a softer issue in business today, and not something independent agencies think about all the time, according to Frank Kortarba, president and CEO of Golden Eagle Insurance in San Diego. Nevertheless, because insurance is a people business, …
Less than six months after being promoted to the job, Joseph J. Beneducci tendered his resignation as CEO of Fireman’s Fund Insurance Co. Chuck Kavitsky, president of Allianz of America and the former Fireman’s Fund chief executive whom Beneducci replaced, …
As Ed Rathje sees it, his first foray into the Nevada Legislature as a citizen-activist ended in “total defeat” earlier this month when a bill he was pushing to limit the insurance industry’s use of credit histories to set rates …
