Yearly Archives: <span>2007</span>

ABD Adds Three to Risk Management Team in San Diego

Redwood City, Calif.-based ABD Insurance and Financial Services, a provider of global risk management and employee benefits solutions, has added three professionals to its property and casualty risk management team in San Diego. Dena Williams joins the company as senior …

Ind. ATV Safety Classes Help Reduce Injuries, Fatalities

The Indiana Department of Natural Resources (DNR) and Purdue University’s Extension Service are offering safety classes to help riders of all-terrain vehicles reduce and avoid injuries and fatal accidents. Indiana had more than 200 ATV accidents last year, including eight …

Okla. Receives $120M in Disaster Aid so Far in 2007

Oklahomans affected by multiple rounds of severe weather this year have been approved to receive more than $120 million in federal aid, according to statistics from the Federal Emergency Management Agency. That money includes funds for emergency housing, infrastructure repairs, …

Insurers Have Manageable Exposure to Subprime Turmoil

The vast majority of U.S. insurers have little or no exposure to the volatility in the subprime mortgage market because a substantial percentage of their investments are in the highest-rated bonds or stocks with no direct ties to lenders, an …

Texas: E-Billing for Workers’ Comp System Begins Jan. 1

The Texas Department of Insurance Division of Workers’ Compensation issued a reminder that workers’ compensation system health care providers and insurance carriers are required to be able to exchange medical billing and reimbursement data electronically beginning Jan. 1, 2008. To …

Texas AG Warns Against Price Gouging After Hurricane

Texas Attorney General Greg Abbott warned Gulf Coast residents to be wary of price gouging, charity scams and other fraudulent attempts to bilk consumers in the aftermath of Hurricane Humberto. The AG released the warning after Gov. Rick Perry issued …

Fla. ‘No-Fault’ to Sunset, CFO Urges Legislators to Act

Florida Chief Financial Officer Alex Sink sent a letter to Gov. Charlie Crist, Senate President Ken Pruitt, House Speaker Marco Rubio and other legislative leaders urging legislative action to either reform Florida’s No-Fault Law or, if Florida should return to …

New CFO Leaves Hanover Insurance

The Hanover Insurance Group, Inc. has confirmed that its recently-hired executive vice president and chief financial officer, John J. Leahy, is resigning for personal reasons. The company said the search for a successor is already underway. In the meantime, Frederick …

Bush Signals Veto of Terrorism Reinsurance Program

The Bush Administration believes that the federal backup for terrorism reinsurance should be phased out in favor of a private market for terrorism insurance and “strongly opposes efforts to expand the federal government’s role in terrorism reinsurance,” the White House …

A.M. Best Favors Patrons Mutual Group’s Affiliation with State Auto

A.M. Best Co. has placed the financial strength rating (FSR) of B++ (Good) and the issuer credit ratings (ICR) of “bbb” of Patrons Mutual Group of Connecticut under review with positive implications. These rating actions are the result of the …