E&O Liability Product Nuts & Bolts: Kansas City-based underwriting manager and claims administrator Euclid Managers LLC launched ProtoType, an insurance product for manufacturers. The product features errors and omissions, Web site protection, security coverage, copyright and trademark infringement, defamation, privacy …
Looyenga Outlines Major Hurricane Policy Changes It’s essential to prepare now in case that one-in-10,000 major hurricane hits the Southern United States, Roger Looyenga, CEO of Auto-Owners Ins-urance said at the Florida Assoc-iation of Insur-ance Agents 101st Conven-tion and Educ-ation …
California Insurance Commissioner John Garamendi announced that workers’ compensation insurers in the state filed rate reductions averaging -14.6 percent for policies incepting on or after July 1, 2005 bringing the cumulative rate reduction to -26.78 percent since reforms were enacted. …
California’s highest court ruled that country clubs must offer gay members who register as domestic partners the same discounts given to married ones – a decision that could apply to other businesses such as insurance companies and mortgage lenders. The …
A grand jury in Greensboro, N.C., has indicted Steven E. Edwards on 21 counts of fraud, money laundering, tax evasion and stealing $3.8 million earmarked for health and workers’ compensation insurance from three employee-leasing businesses. According to a news release …
WIAA SUBMITS COMMENTS ON LATEST GARAMENDI AGENDA PROPOSAL: The Western Insurance Agents Association submitted comments to the California Department of Insurance opposing yet another over-reaching proposed regulation impacting the insurance industry. Michael J. D’Arelli, vice president, Legislative & Regulatory Affairs …
Brokers should disclose contingent commissions and other incentive agreements to consumers, industry experts said at the Western States Surplus Lines Conference held July 24-26 in San Diego. Participants in the “Ethics and Professionalism/ Current National News” panel disagreed, however, on …
As construction development in the United States reaches an all time peak, with overall spending up 7.5 percent in 2005 compared to 2004, agents and brokers writing contractor business are having a tough time locating markets to insure their clients. …
Fitch Ratings affirmed the “A-” insurer financial strength ratings on the members of the Liberty Mutual inter-company pool and revised the rating outlook on pool members to stable from negative. Additionally, Fitch assigned Peerless Ins. Co. inter-company pool members “A-” …
The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of these weather-related losses are attributable to small events as distinct from headline-catching catastrophes, according to a scientist who has studied the …
