Given the pace of today’s technological developments, it is often difficult for agency principals to know where to get the most bang for their buck. As most agency principals know, it is important to take a strategic approach when it …
News Currents Former makers of lead paint went before the Rhode Island Supreme Court in Providence recently to prevent the state from honoring a contract with its private lawyers that is potentially worth tens of millions of dollars. A jury …
Insurance agents have succeeded in removing from the New York State budget a provision to substantially boost fines against insurance professionals. The proposal would have increased fines from $1,000 for the first violation and $2,500 for each subsequent violation to …
States balk at growing trend of federal preemption State lawmakers point to 72 bills or amendments that would step on the toes of state policy makers The federal versus state insurance regulation debate just beginning to heat up in Washington …
The U.S. Court of Appeals for the First Circuit has refused to overturn a ruling striking down Puerto Rico’s controversial countersignature law that required non-resident commercial insurance brokers to have the countersignature of a Puerto Rico resident agent before they …
In two recently issued reports Standard & Poor’s Ratings Services revised its outlook on the global reinsurance industry to stable from negative, “indicating that there will be little near-term movement in ratings or outlooks.” S&P credit analyst Simon Marshall indicated: …
Despite last year’s disastrous hurricane season, Lloyd’s posted a relatively small 2005 loss of $180.6 million, not a great result compared to the $2.4 billion profit it made in 2004, but it could have been a lot worse. The financial …
Independent agents and brokers grew their share of the property/casualty market by $11.93 billion in 2004, accounting for almost 60 percent of the national increase, according to the Independent Insurance Agents and Brokers of America’s 2004 market share study. The …
Today, many private companies are planning activities that may increase their exposure to management liability risks, Lisa McGee, vice president, Chubb & Son, said at a recent Inc. 500 Conference. Sixty-seven percent of private companies are likely to broaden their …
U.S. tort costs reached a record $260 billion in 2004, or approximately $886 per person, according to the U.S. Tort Costs and Cross-Border Perspectives: 2005 Update from the Tillinghast business of Towers Perrin. This surpassed the previous record set in …
