AIG, days before a high-profile legal fight with a company controlled by former CEO Maurice Greenberg heads to court, promised to use any funds won at trial to repay U.S. taxpayers. “While any relief granted for AIG’s equitable and legal …
Legislation intended to clarify the regulation of the surplus lines insurance industry in Florida has beeen signed into law by Gov. Charlie Crist. The legislation (HB 853) removes an ambiguity caused by two Florida Supreme Court rulings last year that …
Officials in Maryland are investigating an incident in which a man died after falling from a tanker truck at the Good Humor-Breyers Ice Cream plant last month. Maryland Occupational Safety and Health is investigating the May 29 incident. A spokeswoman …
The current financial crisis did not result from a failure of enterprise risk management (ERM), but a failure to implement ERM processes, according to actuaries. According to Parr Schoolman, senior vice president for Aon Benfield, an over-reliance on optimistic models …
The South Carolina Supreme Court has ruled that a trucker paid to haul cut trees is a commercial motor carrier required to carry liability insurance limits of at least $750,000 and does not qualify either as a private carrier or …
The Insurance Professionals of Kings & Tulare County, Calif., a local chapter of the National Association of Insurance Women International, recently elected its 2009 – 2010 officers. The incoming officers are: President Theresa Culotta of Farmers Insurance; Vice President Karla …
Heritage General Agency announced that Michael Tahan has joined the company’s Irvine, Calif., office as assistant vice president. He will responsible for establishing new business relationships and working with existing agents and brokers. Tahan brings more than 15 years of …
Encino, Calif.-based NAS Insurance Services has expanded its social services product by offering the following new coverage options: abuse/molestation limits available up to $1 million/$3 million; separate towers for general liability/professional liability; and minimum deductibles starting at $1,000. The program …
The House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises will hold a hearing to explore oversight of the insurance industry on June 16. “It is now clear that we must restructure the federal government’s role with …
Urban drivers often pick mini and microcars because they are affordable, fuel efficient, and easy to park on city streets. Fender-benders are hazards of urban driving, and just one of them can add up to thousands of dollars in repair …
