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

E&O Insights: Does Every One of Your Accounts Have a Personal or Commercial Umbrella?

The answer to the question posed in the headline is probably “no.” Despite your efforts, not every account (personal or commercial) buys this protection. The best follow up question would be, “Have you provided an umbrella proposal to every one …

Illinois Passes Workers’ Comp Reform but Some Say More Is Needed

Illinois Gov. Pat Quinn plans to sign a major overhaul of Illinois workers’ compensation system that he said will mean “significant savings” for the state, but at least one insurance carrier trade group asserted more work needs to be done …

Is Paternity Fraud a Grounds for Lawsuit?

The Tennessee Supreme Court has agreed to hear a case that could decide whether a man has legal grounds to sue for being duped into supporting a child that turns out to be fathered by someone else. Legal experts believe …

Loophole in Missouri Law Puts Employers at Risk for Occupational Disease Lawsuits

Employee Lawsuits Are Expected to Increase Missouri employers, including small- and mid-sized companies, should be aware of a loophole in Missouri law putting companies at risk for lawsuits filed by current and former employees who claim they contacted an occupational …

For Construction Projects, Delays and Financing Risks More Common as Economy and Industry Continue to Struggle

While brokers on construction projects have historically focused primarily on owners and contractors, economic uncertainty has created a new focus area – financing entities. In addition to the usual construction risks, financing has emerged as a major concern, with more …

Rio Grande Valley Insurance Broker Sentenced to Prison

A 47-year-old Harlingen, Texas, man was sentenced to more than three years in federal prison for a scheme to defraud a Rio Grande Valley hospital of more than $3.8 million by selling it nonexistent and altered insurance policies. Michael N. …

Calif. Workers’ Comp Total Temporary Disability Rates to Increase

California workers’ compensation total temporary disability (TTD) rates are likely to rise, thanks to new U.S. Department of Labor data that shows California’s State Average Weekly Wage (SAWW) rose more than 2.4 percent from $979.90 to $1003.55 in the 12 …

Calif. State Fund Seeks to Offer Workers’ Comp in Other States

California State Compensation Insurance Fund is pursuing legislation to allow it to offer coverage to California employers who have out-of-state employees. Currently, California-based businesses insured with State Fund must obtain a separate workers’ compensation policy to cover employees who work …

Declarations

Reinsurance News “Significant loss activity and major cat model changes since last year’s renewals have impacted each reinsurer’s capital position and view of adequate pricing differently. The good news is that the reinsurance sector remains fully solvent, fully liquid and …

Commercial Insurance Prices Still Flat But Workers’ Comp Moving Up

Commercial insurance prices were relatively flat for the ninth consecutive quarter, and new data confirm the deterioration of loss ratios in accident-year 2010. Price reductions continued for commercial property and management liability lines, according to global professional services company Towers …