Monthly Archives: <span>February 2002</span>

Ohio Casualty Insurance, Summit Insurance Join Trusted Choice

The Ohio Casualty Insurance Company and Summit Insurance Company (Rhode Island) are the newest partners in the Independent Insurance Agents of America’s (IIAA) Trusted ChoiceSM branding initiative, which is set to debut its first television commercials later this month, according …

Federal Terrorism Backstop Important to NAMIC Members

Nearly 100 percent of National Association of Mutual Insurance Companies (NAMIC) members questioned believe that Congress should pass federal backstop legislation for terrorism insurance, according to a survey of a group of member company CEOs who were considering terrorism reinsurance …

United Heartland Launches a New Tool for Workers’ Comp

United Heartland, a writer of worker’s compensation policies in Wisconsin, Illinois and Iowa, has launched Inside UH, a new feature on its web site designed to streamline information associated with workers’ compensation insurance policies. Agents and clients looking for monthly …

Minn. Committee Delays Vote on Credit Ban

In an unexpected but encouraging development according to the American Insurance Association (AIA) Feb. 5, a Minnesota legislative committee put off voting on a bill to ban the use of credit-based insurance scores. The Minnesota House Commerce Committee delayed a …

Most Banks Don’t Have Rogue Trader Insurance

The recent revelations that the Allied Irish Bank has lost an estimated $750 million from the unauthorized operations of a “rogue trader” in its Baltimore-based foreign exchange office, has raised questions about possible insurance coverage for the losses involved. The …

EU To Require Insurers to Hold Larger Reserves

The European Commission, the executive body of the European Union, has proposed the adoption of new regulations, requiring EU insurers to hold a larger percentage of their capital as reserves against losses. The proposals, which are due to be voted …

PA Trial Lawyers Dispute Excessive Med Mal Claim Recoveries

The Pennsylvania Trial Lawyers Association (PTLA) has issued a statement that recent studies show that claims by doctors and hospitals that juries have been “out of control” are not supported by either past or current data. The report “Juries and …

PIA Welcomes NAII Decision to Join Challenge to OCC on W.Va. Insurance Laws

The National Association of Professional Insurance Agents (PIA) has welcomed the decision of the National Association of Independent Insurers (NAII) to join in a court challenge to the Office of the Comptroller of the Currency’s (OCC) assertion of federal preemption …

NY Agents Hear Different Solutions to Auto Rate Reform Crisis

A recent meeting, hosted by the Independent Insurance Agents Association of New York (IIANY) and the AIA, attended by representatives of 23 insurance carriers operating in the State, heard differing views on the changes that should be made to solve …

Utah House Passes Bill for Insurers

The Utah House passed a bill Feb. 5 allowing insurers to use credit-based insurance scores only to give their customers discounts. “By requiring insurers to use insurance scores only to provide premium discounts and not allowing companies to charge higher …