AIG Executive Liability, a unit of AIG Commercial Insurance, introduced Public Entity Plan and Trustee Protector, a policy that protects individuals who manage public entity employee benefit plans from fiduciary liability exposures. A number of recent high-profile cases have spotlighted …
The Supreme Court Wednesday overturned the record $2.5 billion in punitive damages that Exxon Mobil Corp had been ordered to pay for the 1989 Exxon Valdez oil spill off Alaska. The nation’s highest court ruled that the punitive damages should …
Carole Fleischman has joined Red Bank, N.J.-based Phoenix Underwriting Managers, a national managing general agent (MGA) for specialty insurance programs, as president of its Managed Insurance Programs Division. Before developing the Contractors’ Choice program in 1996, Fleischman was senior vice …
New Jersey lawmakers have approved a number of major changes to the Garden State’s workers’ compensation insurance system. The reforms comprise a package of six bills passed earlier this week by the Assembly and Senate that, among other things, more …
The Lake Delton village board says the Wisconsin Department of Transportation will handle repairs to the breach in the community’s empty lake and adjacent highway with the hope of restoring the lake by next spring. Lake Delton is part of …
The federal government approved disaster assistance for a majority of the West Virginia counties Gov. Joe Manchin requested after severe weather caused significant damage in the state from June 3 through June 7. The approval includes individual assistance for Barbour, …
Michigan will adopt an expanded child safety seat law for motor vehicle travel by July 1. The revised law means children under age 8 will have to travel in some sort of child restraint system unless they have grown to …
The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in net income in first-quarter 2008, the industry posted …
Opening thousands of miles of North Carolina roadways to long tractor-trailers will jeopardize lives and overtax the state’s infrastructure, a safety group cautioned. Truck Safety Coalition state coordinator Jen Tierney said June 23 a legislative proposal to allow 53-foot-long trailers …
New Day Underwriting Managers LLC, an environmental and construction insurance wholesaler, has appointed David D. Russo to the newly-created position of account manager. Russo joins New Day Underwriting from Commerce Insurance Services where he was an assistant vice president and …
