A national insurance advisory organization is filing three endorsements to allow insurers to exclude personal and umbrella liability coverage for injury or damage arising from dogs. The American Association of Insurance Services (AAIS) develops standardized policy forms and rating information …
IBM wasted no time in parlaying the winning performance of its artificially intelligent Watson on the TV game show “Jeopardy!” into real business. The company recently announced a deal to commercialize Watson’s capabilities by developing a system to help doctors …
A.M. Best Co. reported it has downgraded the financial strength rating to F (In Liquidation) from D (Poor) and issuer credit rating to “rs” from “c” of Constitutional Casualty Co., based in Chicago. On Jan. 7, 2011, Illinois Director of …
A Chicago-based auto insurance company has paid $256,000 in fines and is required to more quickly process, investigate and pay claims under a settlement reached with the Missouri Department of Insurance. Universal Casualty Co. also has paid more than $15,500 …
Many Insurers, Inadequate Prices “The urgings of Wall Street, pressures from the agency force and brokers, or simply a refusal by a testosterone-driven CEO to accept shrinking volumes has led too many insurers to write business at inadequate prices. ‘The …
Baldwin & Lyons Inc., headquartered in Indianapolis, promoted Mark Bonini to executive vice president of sales, marketing and underwriting; Jim Isham to senior vice president of administration; and Craig Morfas to senior vice president of claims, legal and corporate secretary. …
Health insurance companies may not collect fees from a new insured on behalf of an insurance consultant if the insurance business is placed by an insurance consultant in Nebraska, according to the Nebraska Department of Insurance. The Nebraska DOI said …
The organization that files workers’ comp rates in Massachusetts has agreed to leave premiums flat through next year, following an agreement with the state’s attorney general that blocked a proposed increase of 6.6 percent. The Workers’ Compensation Rating and Inspection …
Giant Berkshire Hathaway, which makes much of its money on insurance and investing insurance premiums, does not provide liability insurance for its own directors. Warren Buffett, the 80-year-old chairman of Berkshire Hathaway and billionaire investor, in his annual letter to …
CEO Eslick Shares Lessons Learned in Assembling Marsh & McLennan Agency In a little over a year, mega-broker Marsh & McLennan quickly assembled one of the largest independent agencies in the nation, entirely through acquisitions. That entity, Marsh & McLennan …
