Currents

Insurance charity foundation opens in N.Y.; plans national expansion

A California organization seeking to be a collective voice for insurance industry philanthropy has launched a New York division, kicking off what it hopes will become a nationwide expansion. The Insurance Industry Charitable Foundation said its New York division, which …

Declarations

Back on track “With these new appointments, the Commission is committed to a new focus for the Division of Insurance, making New Mexico a more friendly place to do insurance business, while making the industry understand that if they do …

Honesty is the best insurance policy

I have introduced legislation in the U.S. Senate to make future insurance policies easier for consumers to understand. The “Honesty is the Best Insurance Policy Act” calls for requiring insurance companies to state in plain English and big letters exactly …

‘Tort versus no-fault’ reform paradigm is false choice, paper says

The belief that the only way to reform the costly tort system is by adopting a no-fault law is a false choice, according to a new public policy paper issued an insurance industry association. Indianopolis-based National Association of Mutual Insurance …

P/C insurers’ profitability drops in first-half of 2006

Increased competition will eventually undermine results, says industry analyst The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the decline …

Flying solo now, former Zurich executive ‘gooses ‘ N.C. agents

A retired insurance industry executive turned turbo-charged motivational speaker told a group of independent insurance agents that they are the greediest people he has ever met. Ray Thomas, a former Zurich North America Small Business CEO, meant his remark as …

Disaster planning helped New Orleans agencies get back up and running

You could almost feel it, the bond that had formed as we worked to bring our agency back to life, help our clients, and assist each other through the most trying times we will hopefully ever know,” said Douglass C. …

Insurance issues take back seat in Mass. governor’s race

Insurance issues have taken a back seat to crime and taxes but there is evidence that the candidates locked in the race to succeed Massachusetts Gov. Mitt Romney do have insurance on their radar. Republican Kerry Healey has made deregulation …

Allstate named in “100 Best Company List” for working mothers

Northbrook, Ill.-based All-state Insurance was named by Working Mother Magazine as a 2006 Working Mother 100 Best Company. For 21 years the Working Mother 100 Best list has celebrated employers whose groundbreaking benefits, from flexible schedules and child care to …

Court: No libel by disgruntled N.C. columnist

A disgruntled magazine publisher did not commit libel against an insurance adjuster when he wrote a column criticizing the agent’s handling of his claim, North Carolina’s Court of Appeals ruled. Bernie Reeves, editor and publisher of Metro Magazine, wrote an …

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