It Figures
8% The drop in premiums sought by the largest medical malpractice insurer in Maryland for next year in what would be its first rate reduction since at least 1992. The potential rate cut by Medical Mutual Liability Insurance Society of …
Declarations
Tort reform impact “It’s difficult to say whether tort reform measures have impacted this slow down in tort costs growth. We have yet to see what, if any, impact the class action reform legislation that was passed in February 2005 …
State liquor store, homeowner blamed in N.H. drunk driving death
The family of a New Hampshire man killed in a drunken driving crash two years ago is suing the state Liquor Commission and the woman who owns the home where his friends were drinking. Randy Holmes, 24, was a passenger …
NFL Steeler Webster’s estate awarded disability benefits
The estate of NFL Hall of Fame center Mike Webster is entitled to collect more than $1.5 million in disability benefits because brain damage left him unable to work following his football career. A three-judge panel of the 4th U.S. …
Flooded Maine family blames faulty federal maps
A family devastated by the Mother’s Day flood that inundated their home along the Mousam River in Kennebunk, Maine, says errors in federal maps prompted them to forgo the purchase of flood insurance, a decision that came back to haunt …
Down to mirth
Insurance is a serous business. It’s not easy finding humor in the insurance headlines. But in 2006, a few stories that brought a smile snuck through the disasters and dire warnings. No belly laughs, for sure, but a little relief …
Top Stories of the Year – International
2. Changing Reinsurance Rules In March, Lloyd’s Chairman Lord Peter Levene finally got the attention of U.S. regulators. At a meeting in Florida, the National Association of Insurance Commissioners agreed to set up a task force, chaired by Massachusetts Commissioner …
Top 10 Stories of the Year – National
The fight to save contingent commissions topped the minds of agents across the nation as a few select states drove public policy efforts to end their use by insurers. The industry grabbed hold of predictive modeling and analytical tools. In …
Professional liability in a financial world
What professional liability exposures do financial institutions face today? Have risks significantly changed since 2001? If so, why? Major events have had a direct impact on insurers, agents and the industry and have triggered lawsuits and, eventually settlements, changing how …
2006 New Markets Report
New insurance products seemed to be in great supply in 2006 as the market for most lines continued to turn toward softer times. No market was as robust as professional and management liability lines, according to a review of new …
