Archive for July, 2009
AIG to Combine Consumer Finance Operations in Poland
American International Group, Inc. (AIG) has entered into an agreement under which it will combine its consumer finance business in Poland, conducted through AIG Bank Polska S.A., into the Polish …
The Hartford Posts Net Loss of $15M in Q2; P/C Combined Ratio at 90.4%
The Hartford reported a second quarter 2009 net loss of $15 million compared with second quarter 2008 net income of $543 million. Even so, Ramani Ayer, chairman and chief executive officer of The …
FPIC Insurance Group Buys Texas Med Mal Insurer Advocate, MD
Jacksonville, Florida-based medical liability insurer FPIC Insurance Group Inc.
No Coverage for Wrongful Death in Shooting of Mississippi Robber
A Mississippi convenience store owner who shot and killed a robber cannot seek coverage under his general liability policy for a wrongful death suit brought the victim's survivors, a federal court …
Colorado Workers’ Comp Insurer Wants to Go Private
The head of Colorado's state-chartered workers' compensation insurance fund says the company wants to go private. Ken Ross, president and chief executive of Pinnacol Assurance, told The Denver …
Pennyslvania’s Harleysville Sees Second Quarter Profits Climb
Pennsylvania-based Harleysville Group Inc. saw second quarter profits climb 115 percent to $20.1 million, up from $9.3 million in the year-ago quarter. At the same time, revenues at the …
Study: Health, Life Insurers Ignoring Younger Generations
Age may determine how much health and life insurance companies spend trying to get people onboard. A new study shows health and life insurers pay much more attention to Baby Boomers than they do …
Lindemann Named President, COO, CNA Commercial
CNA Financial Corp. named Bob Lindemann as president and chief operating officer of CNA's Commercial Lines operations
Fairfax Sees Insurance Market Turning Corner in ’09
Toronto-based Fairfax Financial Holdings Ltd said Friday it expects the insurance market to turn a corner this year and believes its book value will be "up significantly" in five …
EPA: Toxic Chemicals at Delaware Site Will Remain for 100 Years
The EPA project manager overseeing cleanup at the abandoned Metachem site near Delaware City says toxic chemicals will remain there for at least 100 years. Hilary Thornton spoke Tuesday night …
Jury Rules against Tennessee Woman in Racial Harassment Suit
A federal jury has ruled against a white woman who claims she was harassed for defending black co-workers at a Whirlpool factory in La Vergne. Treva Nickens said the harassment started when she …
‘Green Goo’ Revealed Toxic Leak at West Virginia Zinc Plant
For at least five years before Rebecca Morlock noticed what she calls "a green goo'' seeping out of the ground below a former zinc-smelting plant in the town of Spelter, water loaded with …
Insurance Professionals of Shreveport/Bossier Installs Leaders
The Insurance Professionals of Shreveport/Bossier (Louisiana), a chapter of the National Association of Insurance Women, International, has installed the following officers for the 2009-2010 …
Michigan’s American Community Launches PPO Network in Ohio
Michigan-based American Community Mutual Insurance Company, a provider of group and individual health insurance, has introduced its own proprietary medical provider network in Ohio.
Judge: Louisiana Insurance Commissioner Must Hand Over Documents
Louisiana Insurance Commissioner Jim Donelon has lost a legal fight with the state's legislative auditor and said that he'll give auditors "hundreds of thousands" of documents they demanded from …
Judge: Louisiana Insurance Commissioner Must Hand Over Documents
Louisiana Insurance Commissioner Jim Donelon has lost a legal fight with the state's legislative auditor and said that he'll give auditors "hundreds of thousands" of documents they demanded from …
New Hampshire Judge Rejects State’s Claim on Malpractice Fund
A New Hampshire judge has rejected the state's claim on a $110 million surplus in a fund that underwrites malpractice insurance.
McGarvey Named CFO of The MEMIC Group
Daniel J. McGarvey has been named chief financial officer and vice president of finance for The MEMIC Group.
House Passes National Flood Insurance Extension Act
The U.S. House of Representatives passed the National Flood Insurance Program (NFIP) Extension Act of 2009, H.R
Researchers Hope to Improve Hurricane Prediction
They're deceptively simple looking detectors: one an antenna with built-in GPS; the other electronic sensors inside what looks like — and in fact, is — a large, upside-down metal salad …
RenaissanceRe Posts $271 Million Q2 Net Income; $368 Million 6 Months
Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $271.2 million or $4.32 per diluted common share in the second quarter, compared to net income …
Montpelier Re Reports $159 million Q2 Net Income; $211 Million 1H
Bermuda-based Montpelier Re Holdings Ltd. reported net income and comprehensive income of $159 million ($1.81 per share) and $163 million ($1.85 per share), respectively, for the quarter ended …
Associations Partner to Share Educational Programs, Knowledge
The National Association of Professional Surplus Lines Offices (NAPSLO) and the Professional Liability Underwriting Society (PLUS) have collaborated to offer educational opportunities to members …
Chicago-Based Insurance Group Entering U.S. Latin American Market
The Wyncrest Group Inc., a niche insurance consortium based in Chicago, Ill., announced its entrance into the Latin American insurance market in the U.S. The company said its pending acquisition …
Arthur J. Gallagher Reports Q2 Results; Slight Drop in Organic Revenue
Arthur J. Gallagher & Co. reported a slight drop in organic revenue of just 0.3 percent for the second quarter 2009 for its combined insurance brokerage and risk management units
Tanning Beds Pose High Cancer Risk
The World Health Organization's International Agency for Research on Cancer has classified UV-emitting tanning devices as "carcinogenic to humans," moving the devices to the highest cancer risk …
Study: Pennsylvania Workers’ Comp Claim Costs Rising
Medical costs for workers' compensation claims in Pennsylvania are typical of those in other states but rising, according to the Workers Compensation Research Institute (WCRI). In a new study, …
Ruling Expected Soon on Tapping New Hampshire Malpractice Fund
A judge is expected to rule this week whether New Hampshire can take $110 million from a malpractice insurance fund to balance the state budget. Judge Kathleen McGuire froze the fund last month …
Ohio Auto and Homeowners Insurance Rates Increased in 2008
Ohio Department of Insurance Director Mary Jo Hudson announced that the average rates for the state's top 10 private passenger auto insurers increased 0.8 percent in 2008.
Hansen to Lead Insurance Women of Dallas for 2009-2010
Insurance Women of Dallas Inc., the Dallas, Texas, chapter of the National Association of Insurance Women, International, has installed officers for 2009-2010 officers. Ashley Hansen, a …