President Barack Obama on Wednesday signed a sweeping overhaul of the financial regulatory system. The “Dodd-Frank Wall Street Reform and Consumer Protection Act,” drafted in response to the recent financial crisis, makes significant changes to financial services regulation. The 2,300-page …
The South Central states of Louisiana and Texas posted job gains for the month of June, but Arkansas and Oklahoma saw slight losses in employment. The Louisiana Workforce Commission reported Louisiana’s seasonally adjusted nonfarm employment grew by 5,800 jobs from …
Giant insurance broker, Aon Corp., said it will resume taking contingent commissions from insurers where they are permitted— reversing its policy on the controversial compensation just six months after a legal settlement banning the volume-based payments was lifted. In a …
Cheyenne, Wyo., may tighten its rules for taxi cab companies that operate in the city. The council is set to vote next week on a requirement for taxis to display the vehicle’s commercial insurance policy. The new rules would also …
Novato, Calif.-based Fireman’s Fund Insurance Co. has appointed Brian Specht vice president of professional liability in commercial insurance. He will be responsible for driving the product strategy for the company’s professional liability business which includes accountants, lawyers, directors and officers, …
New York insurance regulators have approved a 7.7 percent hike in workers’ compensation loss costs — an increase that will go into effect in October. The New York Compensation Insurance Rating Bureau (NYCIRB), the state’s rate service organization, recommended the …
While property/casualty personal lines premiums are benefiting from rate growth, commercial lines continue to show softness, and will lag the economic recovery, according to the most recent Property-Casualty Industry Forecast by Conning Research & Consulting. “Our expectation is for anemic …
New Jersey-based insurance broker Bollinger Inc. has acquired David Szerlip Associates of Berkeley Heights, New Jersey, a specialist in insurance programs for nonprofits. The firm’s clients ranged from large, international nonprofits to small start-ups. David Szerlip will continue with Bollinger …
The St. Louis, Mo., office of privately owned independent insurance brokerage, Lockton, announced that Robert W. (Bob) Reiff is the office’s new chief operating officer. As COO, Reiff will be responsible for the overall operations of Lockton St. Louis, including …
Companies that sold lead-based paint have appealed a judge’s decision denying them reimbursement for the cost of defending themselves against a lawsuit from Rhode Island. Superior Court Judge Michael Silverstein ruled in May the state didn’t have to repay them. …
