Archive for October, 2009
Aon’s Q3 Net up Slightly at $120 Million; Other Results Mixed
Aon Corp. reported results for the third quarter ended September 30, 2009, which show net income attributable to Aon stockholders was up slightly at $120 million or $0.41 per share, compared to …
Donegal Mutual, Southern Mutual Finalize Pooling, Marketing Affiliation
Pennsylvania-based Donegal Mutual Insurance Co. and Georgia-based Southern Mutual Insurance Co. have finalize an affiliation they announced in early September
New Business Owners Product in California
Trinity E&S Services, Inc., with offices in Bermuda Dunes and Petaluma, Calif., is announcing the introduction of an E&S Business Owners Policy for retail agents in California that do not …
California to Update Workers Compensation Regulations
California's Department of Industrial Relations has proposed an update to regulations for the Workers' Compensation Information System.
Florida Approves 5.4% Citizens Homeowners Rate Hike
Florida's state-backed and largest property insurer will be allowed to raise its rates for homeowners an average 5.4 percent in 2010. The increase is the first one allowed since lawmakers froze …
National Flood Insurance Program Extended Until Dec. 18
Congress has again temporarily extended the federal flood insurance program, this time until Dec. 18, 2009. The latest extension was approved by the House and Senate as part of an …
CNA Appoints Rutkowski Senior Vice President, Commercial
CNA Financial Corp.
Research Can’t Yet Explain Link of Chinese Drywall to Home, Health Woes
Federal investigators have been unable to prove a definite link between imported Chinese drywall and home damage and health issues.
Pa. Court: Earlier Asbestos Settlement Has No Impact on New Suit
The estates of two men who died of asbestos-related lung cancer years after receiving a settlement for increased risks and fear of the disease can again sue another manufacturer of the material …
Montana Insurance Commissioner Announces Fraud Settlement
LPL Financial Corporation (LPL) will pay nearly $1.3 million in restitution to Montana investors and a fine of $150,000 to the State of Montana under a settlement announced today by Monica …
Watch Out for Boo! Texas Pedestrian Accidents Jump 23% at Halloween
On average, the number of Texans hit by cars spikes 23.3 percent during Halloween week, according to Allstate Insurance Company. The insurer recently looked at its Texas auto insurance claims …
Michigan Senate Rejects Ban on Location in Setting Auto Premiums
The Republican-led Michigan Senate has killed legislation that would have banned auto insurers from considering where a driver lives when setting rates. Democrats say the practice is unfair to …
Investigation: Ohio Work Comp Fund Lost $20M in Pharmacy Program
The state watchdog says the Ohio insurance fund for injured workers is out $20 million because of problems with its prescription drug program. Inspector General Tom Charles says the Bureau of …
California Pizzeria Owner Pleads to Insurance Fraud
Two Southern California men who were arrested on Oct. 15 for workers' compensation insurance fraud in Orange County. The state Insurance Commissioner, Steve Poizner, said that Sanjiv Mahendra …
Patriot Underwriters to Market SPARTA Workers’ Compensation in 5 States
Fort Lauderdale, Fla.-based Patriot Underwriters, Inc. said it has signed an agreement with Advantage Specialty, Inc.
Curtis Named Marsh UK COO
Marsh has appointed Simon Curtis as Chief Operating Officer (COO) of Marsh UK. He is based in London, and will report to Martin South, CEO Marsh UK
Best Affirms Lloyd’s Syndicate 33 ‘A’ Ratings (Hiscox)
A.M. Best Co. has affirmed the Best's Syndicate Rating of 'A' (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd's Syndicate 33, which is managed by Hiscox Syndicates Ltd (HSL).
Guernsey Welcomes ‘Foot Review’
Guernsey's government joined Bermuda's in welcoming the final report of the 'Foot Review' see IJ web site – http://www.insurancejournal.com/news/international/2009/10/30/104932.htm. Guernsey's …
Towers Perrin Names Levene Retail Insurance Brokerage Leader
Global professional services firm Towers Perrin has named Steve Levene practice leader for its retail insurance brokerage business.
Alaska Agent Re-Elected to Independent Agents Group
M.J.
Insurers Association Blasts Washington Flood Proposal
The State of Washington's Insurance Commissioner's proposal regarding a state-run, flood insurance program would probably hurt the insurance market and policy holders throughout the state, the …
NTSB: Tire Puncture Caused August 2008 Texas Bus Crash
An investigation by the National Transportation Safety Board has determined that a tire puncture caused a bus crash in August 2008 that killed 17 members of Houston's Vietnamese Catholic …
Texas Mutual Hires Dileo as Head of Claims Operations
Texas Mutual Insurance Company has hired Mike Dileo as senior vice president claims. Dileo has 15 years' experience managing claim, underwriting, loss prevention and premium audit operations. …
Programs to Combat Vehicle Theft to Expand in New Orleans
Commissioner of Insurance Jim Donelon says Louisiana's program to reduce vehicle theft and insurance fraud will be expanded in Orleans Parish, which includes New Orleans. Donelon made the …
Carroll, Jarratt and Lee Added to PCI’s Board of Governors
Steven D.
Ohio Gov. Would not Want to Refuse Health Insurance Public Option
A spokeswoman for Ohio Gov.
Texas May Drop Phone Numbers from Vehicle Accident Reports
In a blow to businesses that contact drivers after car wrecks, Texas' law enforcement and transportation agencies have agreed to drop telephone numbers from crash reports. The move is supported by …
Insurer Harleysville Posts 488% Q3 Profit Gains to $24.7 Million
Pennsylvania-based insurer Harleysville Group Inc. saw its third-quarter profits climb to $24.7 million, up 488 percent from $4.2 million in the year-ago period.
21st Century Holding Firmly Rejects Homeowners Choice Buyout
Lauderdale Lakes, Fla.-based 21st Century Holding Co. said its board of directors has unanimously rejected an unsolicited buyout proposal by Florida-only insurer Homeowners Choice, Inc., which …
Jones Joins Consultant InStrategy as Managing Director of Retail Practice
Charlotte, N.C.-based insurance consultancy InStrategy Group has appointed Robert Jones as managing director to lead the group's retail practice. Jones has 30 years of experience in the …