North Dakota Insurance Commissioner Jim Poolman reported that severe weather that ripped through the Dickinson area in Western North Dakota and the Langdon and Walhalla areas in Eastern North Dakota earlier this month has caused an estimated $18 million in …
“Our compensation system is under attack, it is probably about $2 billion that independent agents put in their pockets due to profit sharing and it is under attack, there is no doubt about it,” Bill Stiglitz, Independent Insurance Agents and …
The National Association of Professional Insurance Agents steadfastly supports state regulation of insurance, strongly opposes an optional federal charter and has cautioned carriers against adopting company-specific disclosure requirements, according to the association’s executive vice president and CEO Len Brevik. In …
Until recently, independent directors serving on corporate boards could comfortably rely on a company’s indemnification and directors & officers (D&O) insurance to protect them from legal action in connection with their board duties. But as D&O vulnerabilities have grown, standard …
Children under 14 would have to stick to swimming or water-skiing under a bill gaining support in the New York Legislature that would restrict the use of personal watercraft. The measure, sponsored by Assemblywoman Patricia Eddington, a Suffolk County Democrat, …
A New Hampshire jury has awarded $2.6 million to the family of a teen who died after a massive aspirin overdose in 2001. But it’s not clear how much John and Gaie Mitchell will receive, because shortly before the Merrimack …
Standard & Poor’s Ratings Services has issued a new report – “Reinsurance Criteria: Larger Losses And Better Modeling Prompt Changes To Property Catastrophe Criteria-” that examines the upsurge in Cat Losses. S&P notes that “since the early 1990s, catastrophic loss …
Munich Re held an investors’ day conference in London yesterday, June 27. In conjunction with the event it published detailed information on its internal risk model, which shows that “the Group’s available financial resources rose by 19 billion euros [$23 …
AIR Worldwide Corporation has announced that China’s PICC Property and Casualty Company Limited has completed the first earthquake risk analysis using AIR’s China earthquake model. Guy Carpenter coordinated the analysis of the PICC portfolio, which represents more than 60 percent …
Strategy International Insurance Group, Inc. announced from its Toronto office that it has been named by Value Guaranteed Vacations Inc. (VGV Inc.) as the exclusive insurer for its affinity program, the VGV(TM) Program. Coverage will be provided through two of …
