Monthly Archives: <span>May 2010</span>

Car Thefts Down in Most Ohio Cities

An insurance industry group reports car thefts were down last year in 15 of Ohio’s 16 largest metro areas. The only exception was the Marietta area in southeast Ohio. The Ohio Insurance Institute (OII) says a report from the National …

TWFG Acquires Vela Insurance Agency

The Woodlands, Texas-based The Woodlands Financial Group Inc. (TWFG) has acquired the Vela Insurance Agency Inc., located in Pearland, Texas. Jerri Vela, former owner of Vela Insurance Agency, expressed joy and excitement when she announced the sale of her agency …

Kingstone Swings to Profit in First Quarter

Upstate New York insurer Kingstone Cos. Inc., posted a $259,000 profit in the first quarter of 2010 — a positive change from the $171,000 loss it saw in the year-ago period. The insurer — which was launched last year through …

16 Florida Workers’ Compensation Insurers to Return $9.4 Million

Florida Insurance Commissioner Kevin McCarty has ordered 16 workers compensation insurance companies to return more than $9.4 million in excessive profits to their policyholders. Under state law, workers compensation insurers are required to return excess profits. The law says “an …

Key Facts, Common Myths About Protecting Homes from Hurricanes

With weather forecasters calling for a worse-than-average 2010 Atlantic basin hurricane season, the Institute for Business & Home Safety (IBHS) is advising property owners on the most effective ways to protect their homes and businesses from hurricane damage. IBHS is …

Vatican Argues It’s Not Liable for Kentucky Priests’ Sex Abuse

The Vatican on Monday was to make its most detailed argument yet for why it is not liable for bishops who allowed priests to molest children in the U.S., in a motion that could affect other efforts to sue the …

Mississippi Home’s Concrete Structure Beats Winds, Cuts Insurance Cost

The Dubuisson home will resemble others in the traditional Pass Christian neighborhood when construction is complete this summer yet underneath will be a superstructure built to withstand 200 mile-per-hour winds and cut wind insurance premiums to $1,000 a year. The …

Senate Republicans Balk at Raising Oil Companies’ Spill Liability

President Barack Obama said Tuesday he was disappointed that a measure to lift limits on oil firm liability for spills had stalled in the U.S. Senate, and blasted Republicans he said had stopped it. “I am disappointed that an effort …

Miller Adds Two Global Facultative Reinsurance Specialists

UK-based Miller Insurance Services, an independent insurance and reinsurance broker, announced that Paul Loring and Clare Brooking, both facultative reinsurance specialists, have joined its team in London. They both specialize in the placement of facultative reinsurance, said the bulletin, particularly …

Airline Industry Group Blasts Europe’s Handling of Volcanic Ash

European aviation authorities urgently need to revise their airspace rules to minimize disruption from ash emitted by an Icelandic volcano, the airline industry body IATA said on Tuesday. The International Air Transport Association said the current system was leading to …