Monthly Archives: <span>July 2009</span>

Premier Sponsors Professional Liability Insurance for Not-for-Profit Hospitals

Premier Insurance Management Services Inc. (PIMS) out of Charlotte, North Carolina, is offering a new professional medical liability insurance program to not-for-profit hospital members of the Premier healthcare alliance. PIMS, a wholly owned subsidiary of Premier, is parterning with Medical …

North Carolina May Increase Safety Oversight of Fireworks Firms

A panel of North Carolina lawmakers began trying to improve fireworks safety last week following a fatal July 4 Outer Banks explosion by approving a bill that would require state oversight for those who transport pyrotechnics and set them off. …

Early, Dryden Join UK Broker Miller’s Facultative Re Unit

UK specialist insurance and reinsurance broker Miller Insurance Services Limited announced that Nick Early and Tony Dryden have joined its Facultative Reinsurance business unit. Both men join Miller from Benfield Early has over thirty years experience in the reinsurance market. …

ABI Faults UK Gov’t. on Travel Tax

In the opinion of the Association of British Insurers, the UK’s government has made a mistake in the way it funds travel protection for victims of failed holiday tour operators. In 2007 the Government replaced insurance-backed ATOL (Air Travel Organizers’ …

Insurers Get Tax Credits for Backing Tennessee Venture Fund for Startups

Newly signed legislation in Tennessee will provide venture money for new companies with high growth potential, such as those involved in biotechnology and other innovations. The money will come from insurance companies that invest in the fund and then receive …

Travelers Insurance Urges Regional Zones, Federal Role for Wind Coverage

One of the nation’s largest insurers has unveiled a plan to shift the authority for regulating rates for hurricane wind coverage from state regulators to an independent federal commission. Mississippi Gov. Haley Barbour and four state insurance commissioners heard Travelers …

Alabama Insurance Agency Fined for Employees’ Sales of Bogus Policies

A Gulf Shores insurance agency must pay a $36,000 fine and adopt multiple accounting controls within 18 months after selling bogus homeowners policies to at least 118 customers. A government hearing officer ruled that if Pamela Wynona Schoen of the …

AIG Sells Mexican Consumer Finance Operations

American International Group, Inc. announced that it has closed the sale of its consumer finance operations in Mexico, consisting of AIG Universal, S.A. de C.V., SOFOM E.N.R. and Markcenter Services, S. de R.L. de C.V, to Desarrollo de Negocios Integrados, …

Marsh Issues Business Risk, Insurance Advice for Overseas Travelers

In the wake of the fatal bombings in Indonesia, PMarsh has issued a reminder to companies with employees who travel overseas of the need to have robust travel policies and emergency procedures in place to deal with crisis situations. Marsh …

Marsh Study: UK Real Estate Firms Must Manage Risk More Effectively

A new report by Marsh has found that some UK real estate firms are failing to address the strategic risks facing their organizations, leaving them more vulnerable to the vagaries of market conditions and in a weaker position in the …