5.4% The workers’ compensation loss cost reduction approved for Maryland workers’ compensation carriers effective Jan. 1, 2009, thanks to a continued decline in frequency of claims. The decrease represents about $37 million in savings. $6.6 Million Value of settlement between …
The Chubb Corp has named Richard G. Spiro executive vice president and chief financial officer, effective Oct. 1. Spiro, 44, succeeds the retiring Michael O’Reilly, who will remain at company until the end of 2008 to assist in the transition. …
Astute observers of recent political history may recall the story of Harry and Louise — the fictional couple created by a health insurance industry lobbying group in 1994. In political television ads at the time, the couple railed against then-President …
The Maryland Court of Appeals has ruled that drug manufacturer Eli Lilly was not liable for a fatal accident caused by a user of one of its diabetes drugs who blacked out while driving and crashed into another vehicle. Ellen …
Despite current market conditions, as I travel from state to state, I find the goal of almost every independent agent is to grow personal lines business. The basis of this organic growth strategy is adding new clients or increasing the …
Premiums for workers’ compensation insurance in New York will drop 5 percent in 2009, marking the second straight annual decline since landmark reform legislation was passed in 2007. The drop in rates follows a 20.5 percent decrease in 2008, a …
Maryland’s private auto insurance industry is objecting to a proposal by the state’s insurer of last resort to lower rates as gasoline and food prices rise. At a hearing in Baltimore, industry representatives told Insurance Commissioner Ralph Tyler that the …
CRC Insurance, Southern Risk CRC Insurance Services Inc., the wholesale insurance unit of BB&T Corp., completed its purchase of Southern Risk Operations LLC. Sumter, S.C.-based Southern Risk is an excess and surplus insurance broker for personal and commercial properties along …
The U.S. Third Circuit Court of Appeals has upheld a judgment of $182.9 million in a malpractice case against the accounting firm PriceWaterhouseCoopers for its dealings with the failed Ambassador Insurance Co. Ambassador Insurance Co. (a Vermont domiciled surplus lines …
Taking aim at a longstanding rite of passage for 16-year-olds, an influential auto safety group is calling on states to raise the age for getting a driver’s license to 17 or even 18. Adrian Lund, president of the Insurance Institute …
