MarketScout, a Dallas Texas-based insurance exchange specializing in the distribution of property and casualty insurance products, announced E.L.M. Insurance Brokers Inc., a specialist in Miscellaneous Errors & Omissions coverage, has been posted as MarketScout’s designated provider of Miscellaneous E&O products. …
Iowa insurance agent Edwin Pace was ordered to reimburse $302,000 to investors, and $30,000 in commissions to the state, plus costs and attorney’s fees, following a court ruling that he had sold fraudulent investments in customer-owned, coin operated telephones. Judge …
Allstate Corp. announced from its Northbrook Ill. headquarters that Thomas J. Wilson, 44, currently chairman and president of Allstate Financial, will assume the new role of president, Allstate Protection, effective Oct. 1, 2002. He will replace Richard I. Cohen, who …
Nevada Commissioner Alice Molasky-Arman ordered that a “Construction Liability Clearing House” be established for the purpose of providing information on markets and availability of residential construction insurance. She also asked assistance form the insurance industry for the formation of a …
Despite broad opposition from the business community, California Governor Gray Davis has approved a measure that will weaken the process to grant summary judgment motions and extend the statue of limitations for the filing of personal injury lawsuits, according to …
On Sept. 11, the WCIRB Governing Committee authorized amending the WCIRB’s proposed 2003 pure premium rate filing, which was submitted to the California Department of Insurance (CDI) on July 31, 2002. Specifically, the WCIRB will amend the proposed pure premium …
Aon Corporation announced that its global reinsurance intermediary, Aon Re Worldwide, has completed a major excess of loss reinsurance program for the State Compensation Insurance Fund of California. The transaction reinsures all losses incurred from 1980 through 1998 up to …
Allianz AG announced that it will increase the reserves of Fireman’s Fund Insurance Company, its its California-based U.S. property/casualty subsidiary, by $750 million, primarily to cover the anticipated increase in asbestos and environmental (A&E) risks. The additional funds, scheduled to …
Bermuda-based PartnerRe announced that it has reprinted its research report, “Floods – Causes, Effects and Risk Assessment, ” following the devastating flooding in Europe in August. Originally published in 1997, the study offers a descriptive guide to assessing flood perils, …
EQECAT Releases Probabilistic Terrorism Insurance Model Oakland-based EQECAT, a leading risk management consulting firm, announced that it has released a “full probabilistic model for terrorism risk assessment for use by insurers and reinsurers.” It “covers all relevant risk sources” in …
