A proposal to more than double the tax burden on the state’s insurance industry announced by Governor Jennifer Granholm today will result in higher premiums for the insurance-buying consumer, the Insurance Institute of Michigan has charged. “The governor’s plan disadvantages …
Fitch Ratings has lowered the insurer financial strength (IFS) rating on Exporters Insurance Company Ltd., a Bermuda-based group captive insurer that focuses on trade credit insurance, to ‘A-‘ from ‘A’. Fitch, however, assigned a stable outlook to the new rating. …
Bermuda’s ACE Limited announced the appointment of Robert F. Cusumano as General Counsel, effective March 1. He will succeed Peter Mear, who plans to retire as ACE’s chief legal officer after a nine-year tenure. The bulletin noted that Mear, 61, …
Aon announced it is introducing a series of forums in Oklahoma aimed at helping make sense of the increasingly complex risk management environment. Aon designed the 2005 Oklahoma Business Risk Forums to offer participants the opportunity to interact with a …
Fireman’s Fund Insurance Company has announced a personal insurance benefit program, including automobile and homeowner’s coverage, for the more than 28,000 members of the California Professional Firefighters (CPF). The new personal insurance includes the Fireman’s Fund Prestige Home Standard and …
The Independent Insurance Agents & Brokers of America (the Big I) has strongly denounced the claims made against independent agents and brokers by the Consumer Federation of America as “irresponsible.” According to the Big I, the CFA report (see lead …
The four major hurricanes that severely impacted Florida and other states and preparing for the 2005 hurricane season will be discussed by Max Mayfield, director of the National Hurricane Center, during the Feb. 1 to 4 Sixth Annual Windstorm Insurance …
The American Insurance Association and the Property Casualty Insurers Association of America have joined independent agents in criticizing a report on the use of contingent commissions in personal lines insurance by the Consumer Federation of America and its insurance director, …
Marsh & McLennan Companies Inc. (MMC) announced a number of organizational and management changes within Mercer Inc., one of the world’s largest consulting firms, providing services on issues that face the managements of enterprises in major global markets. MMC stated …
A new report by a national consumer organization claims that contingent fee arrangements “similar” to those being investigated by New York Attorney General Eliot Spitzer in commercial insurance brokerage are “quite common” in the sale of personal lines insurance to …
