American agriculture 15 years from now will be a vital, more profitable sector of the economy, successfully competing with foreign commodities, according to a new report released by the American Farm Bureau Federation. The report said tomorrow’s farmers and ranchers …
According to Lloyd’s newly released annual underwriter survey, managing the “boom and bust” insurance cycle remains the most important challenge facing the global industry for the second year running. The survey also found that nearly 90 percent of the underwriters …
As a federal probe into the insurance industry widens, four former top executives of giants General Re and American International Group are pleading not guilty to fraud and conspiracy charges. The Justice Department has accused the four of orchestrating an …
Independent agents, like companies, are increasingly under pressure with increasing costs and decreasing revenues. One way around this dilemma is to segment the agency’s personal lines business and to focus on the affluent clients where agents can differentiate themselves based …
American International Group Inc. announced that its AIG Companies terminated the agency relationship with Starr Technical Risks Agency Inc. and its subsidiaries (Starr Tech), insurance agencies owned by C.V. Starr & Co. Inc. C.V. Starr is run by AIG’s own …
The current state-based insurance regulatory system is a dysfunctional relic that has stifled property/casualty product creativity for years. This patchwork regulatory system is filled with wasteful inefficiency that is costly to individual states, insurance companies and to consumers. It is …
California Insurance Commissioner John Garamendi has announced new workers’ compensation regulations that will require all insurers in the state to submit certification forms that verify that claims adjusters and medical bill reviewers meet the new minimum standards of training and/or …
Washington state officials have amended and approved legislation that would create an insurance anti-fraud unit in the insurance commissioner’s office, according to the Property Casualty Insurers Association of America’s (PCI) Northwest Regional Manager Kenton Brine. “The Washington House Financial Institutions …
Suhr Risk Services of California has named Patricia Coutermarsh chief operations officer. In that role, she will oversee operations from Suhr’s three Northern California branches, ensuring quality service delivery to all of its clients worldwide. Coutermarsh succeeds retiring company Chief …
The frequency of class action suits seems to be fairly manageable. However, that good news does not carry over to the severity side. Dramatic settlement increases have occurred during the past five years, panelists told the 18th Annual Professional Liability …
