The Word Strategy
Will Rogers said “it aint so much the things we know that get us in trouble, it’s the things we know that aint so.” Truer words have never been spoken about one of the most abused words in our vocabulary. …
House Committee Hears Concerns on Surplus Lines Reform Tax Issue
Just days after the surplus line reform legislation became effective, federal legislators heard comments from industry insiders on concerns regarding the implementation of provisions in the bill, including how states will come to consensus on surplus lines premium tax proposals. …
P/C Commercial Prices Showed Modest Increases in Q2: Brokers’ Survey
Pricing in the U.S. commercial property/casualty market showed modest increases in the second quarter of this year, compared with the first quarter. That’s according to The Council of Insurance Agents & Brokers’ Commercial P/C Market Index Survey. Nearly half of …
Long-Time Virginia Insurance Commissioner Gross Dies
Alfred W. Gross, who served as insurance commissioner for the state of Virginia for 14 years until he retired last year, has passed away, according to the National Association of Insurance Commissioners (NAIC). Gross retired last December at age 64 …
CNA Enhances Real Time Quoting System for Small Business Agents
Chicago-based CNA announced enhancements to its Real Time Quoting system for agent quoting of Small Business accounts. The company said CNA’s newest Real Time Quoting solution enables Small Business agents and brokers to obtain bindable quotes and proposal letters for …
Group Captive Chooses The Hartford As Insurer
Affinity Insurance Ltd., a casualty lines group captive owned by 290 companies, has selected The Hartford as its insurance carrier for workers’ compensation, commercial auto and general liability. Captive Resources, LLC administers the program on behalf of Affinity. The Hartford …
P/C Insurers Still Saddled with Asbestos Reserve Challenges
Asbestos-related diseases have been falling for a decade, but warnings from a pair of U.S. insurance giants about new claims raise questions about the industry’s ability to put the scourge behind it. While medical evidence suggests fewer new cases of …
Michigan’s Great Northern Insurance Joins the ISU Network
Great Northern Insurance of Sterling Heights, Mich., has joined the ISU Network. Established in 2010, ISU Great Northern Insurance is owned by Jessica Nofar. ISU Great Northern represents Associated Food & Petroleum Dealers members. The 13-employee office specializes in gas …
Florida Citizens Proceeds with Bid for 400% Sinkhole Rate Hike
Florida residents who purchase sinkhole insurance through the state-back Citizens Property Insurance Corp. could be looking at increases of more than 400 percent for the optional coverage next year. By a 4-0 vote, the Citizens’ board took full advantage of …
PartnerRe Comments on Financial Impact of Q2 Losses
Bermuda-based PartnerRe Ltd. has provided information on the net impact of catastrophe-related large losses affecting second quarter 2011 results. Significant losses, related to the tornadoes that struck the U.S. in April and May, are estimated to total $89 million, which …