Monthly Archives: <span>March 2011</span>

Texas Wind Pool Reminds Agents of Switch to Direct Deposit Commissions

Texas agents who sell policies for the Texas wind insurance pool need to provide banking data to the association in order to begin receiving monthly direct deposit commissions. The Texas Windstorm Insurance Association has sent a second notice to agents …

Maryland Weighs Prohibition on Insurers’ Use of Credit Scores

Maryland lawmakers are weighing whether to prohibit insurers from using credit scores to rate auto policies — a move insurers say is a bad idea. The economic matters committee of the House of Delegates recently held an initial hearing on …

No Need to Remove Wiring in Homes with Problem Drywall: U.S. Officials

Federal safety officials have stopped recommending removal of all electrical wiring in homes with problem drywall, a change in the safety protocol that could reduce the cost of remediation for many homes. The U.S. Consumer Product Safety Commission (CPSC) and …

State Farm Sponsors ‘Stay-in-School’ Campaign with Heat’s James

LeBron James studies statistics all the time. One in particular is jumping out at him these days. And it has nothing to do with basketball. James will help lead a new stay-in-school initiative being unveiled in Washington on Monday called …

Tennessee High School Cheerleading Squad Charged with Gender Bias

A judge in Maury County, Tenn. has issued a restraining order stopping the selection of a cheerleading squad at Columbia Central High School because of a lawsuit alleging gender discrimination. The lawsuit was filed by sophomore Olivia Owens and her …

AXIS Estimates NZ Quake, Aus. Flood Losses at $275 to $315 Million

AXIS Capital Holdings Limited has issued a bulletin which estimates that the “total net impact of the New Zealand earthquake and loss events in Australia that have occurred to date in the first quarter of 2011 will be between $275-$315 …

BIBA Calls for Realistic Regulation of UK Brokers

The British Insurance Brokers’ Association (BIBA) released the key findings of its Future of Regulation research on Monday March 21 at a Parliamentary Reception in the House of Commons, to an audience of MPs, civil servants, Lords and the industry. …

Japan Disaster Shows up Flaws in ‘Just-in-time’ Production

Just over a week after the massive earthquake hit the sprawling Texas Instruments chip plant here, a gardener is reworking the Japanese garden in an inner courtyard of the office tower attached to the plant. The garden is a symbol …

EU Prods China to Relax Restrictive Bank Ownership Rules

The European Union is pressing China to relax restrictions on foreign ownership of its banks in order to gain wider access to the Chinese financial markets, the region’s Internal Markets Commissioner said on Tuesday. Michel Barnier, in Beijing for a …

Euler Hermes, China Pacific Team up to offer Trade Credit

Euler Hermes, the trade credit insurer of the Allianz Group, and China Pacific Insurance (Group) Co., Ltd. (CPIC Group), one of China’s largest insurers, announced that they “have combined their expertise to help Chinese companies to better manage trade credit …