SAFECO Corp. announced that wholly owned subsidiary SAFECO Select Insurance Services, based in Santa Ana, Calif., has changed its name to SAFECO Financial Institution Solutions to reflect the broader array of property /casualty insurance products and services it now offers …
CNA Financial Corp. reported a fourth-quarter 2001 net loss of $22 million, compared with net income of $193 million for the same quarter in 2000. According to Chairman and CEO Bernard Hengesbaugh, 2001 was a year when the company stepped …
As was widely expected, on Feb. 15, California Gov. Gray Davis signed a workers’ comp-related bill, AB 749 (Calderon & Burton), which had passed both the state’s House and Senate on Feb. 4. But while it may seem that AB …
Analysts and insurance company CEOs who recently addressed the Property/Casualty Insurance Joint Industry Forum in New York City presented remarkably consistent predictions about the future of the insurance industry in the short term. Members of separate panels composed of financial …
The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
After several months of silence, former California Insurance Commissioner Chuck Quackenbush returned to the headlines, this time to be relinquished of any possible federal charges. According to the Sacramento Bee, an 18-month investigation conducted by federal, state and Sacramento County …
To prosecute, or not to prosecute. The U.S. Department of Justice continues to face that dilemma in its ongoing investigation of French bank Credit Lyonnais’ (CL) role in the takeover of Calif.-based Executive Life in 1991. The U.S. attorney’s office …
We strongly encourage the Department to wait before they actually promulgate these regulations.” That sentiment was offered during testimony given Feb. 8, by Steve Young, senior vice president and general counsel for IBA West, at a California Department of Insurance …
Like life itself, insurance began in the ocean, eventually spawning the various land-based descendants we’ve come to know. While those terrestrial variants-auto, homeowners, commercial liability, among others-now comprise our notion of what the industry is all about, their single ancestor, …
The California Workers’ Compensation Institute (CWCI) will conduct a half-day seminars in Long Beach and San Francisco to help the workers’ compensation community understand federal and state medical privacy rules and develop safe, practical approaches to obtaining the records necessary …
