Data Mining vs. Privacy
Trolling for new business leads has been the bane of insurance agents for decades. Electronic data mining has eased the pain, but there are many gray areas as the call for consumer privacy grows louder. It was a bet with …
Texas Supreme Court Says Insurance Data Should Be Public
The Texas Supreme Court has reiterated its agreement with the ruling of a lower court, saying again that state insurance data should be available to the public. Former Texas Department of Insurance economist Birny Birnbaum, who filed suit in 1998, …
Frontier Reports $13.6M First Quarter Net Loss
Frontier Insurance Group Inc. announced its first quarter 2000 unaudited results. The report shows a net loss of $13.6 million for that period compared to net income of $13.1 million for the first quarter of 1999. In addition, Frontier recorded …
EU/China To Hold New Talks on WTO Membership
Following the failure to reach an agreement last March between the European Community and China over membership in the World Trade Organization, both sides continued to characterize the existing gaps between their positions as bridgeable, and the talks as constructive …
Dutch Fireworks Blast Leaves 20 Dead, Hundreds Injured
A terrific blast and fire Saturday afternoon in the quiet Dutch town of Enschede, has left at least 20 people dead, more than 500 injured and numerous destroyed houses and cars. The explosion occurred when a small fire spread to …
American Re Announces $58.9 Million 1st Quarter Loss
American Re Corp., the U.S. subsidiary of Munich Re, announced a 1st quarter loss of $58.9 million, compared with profits of $57 million for the same period last year. “The result for the first quarter of 2000 includes a substantially …
S&P Places Reinsurer ESG on Watch Negative
Standard & Poor’s CreditWatch announced that it had placed the counterparty credit and insurer financial strength ratings of European Specialty Reinsurance Group (ESG Re Ltd.) on credit watch with negative implications. The core companies affected are European Specialty Reinsurance (Bermuda), …
Kaufmann & Broad (France) To Offer Banking, Insurance Services
International builder Kaufman & Broad’s French subsidiary has entered into agreements with Credit Agricole, France’s largest bank, and AGF, the French subsidiary of Allianz, to cooperate on lending and insurance services. Under the agreement K& B will recommend to home …
Mercury’s $50,000 Contribution to Quackenbush in Question
California Insurance Chuck Quackenbush received a $50,000 campaign contribution from the head of Mercury Insurance Group less than two weeks after regulators froze a proposed enforcement action against the company. Both George Joseph, Mercury CEO, and Deputy Commissioner Dan Edwards …
Lawsuit Against Farmers Given Class Action Status in Oregon
Multnomah County Circuit Court Judge Harl H. Haas granted class-action certification on May 10 to a $5-million lawsuit against Farmers Insurance Company of Oregon. The suit, which was filed by attorney Richard Yugler, a partner in the law firm of …
