Currents

PIA of Florida obtains answers about Poe Financial, its subsidiaries

se_110_PIAofFlorida.xtg TITLE: News Currents Questions and answers about the receivership and status of Poe Financial Corp.’s subsidiaries Southern Family and Atlantic Preferred have been provided to Professional Insurance Agents of Florida members who “flooded” the association’s office with questions after …

Four out of 10 medical malpractice cases are groundless; majority dismissed without payout

About 40 percent of the medical malpractice cases filed in the United States are groundless, according to a Harvard analysis of the hotly debated issue that pits trial lawyers against doctors, with lawmakers in the middle. Many of the lawsuits …

Liberty Mutual to fight N.Y., Conn. charges over contingent pay for agents

The words in support of contingent commissions for independent agents are getting stronger and being turned into action. Gary R. Gregg, president and chief executive officer, Liberty Mutual Agency Markets, recently expressed the frustration many in the independent agency system …

N.M. regulator accused of intervening on daughter’s auto claim

New Mexico State Insurance Superintendent Eric Serna intervened in an automobile accident insurance claim involving his daughter, according to documents obtained by a local newspaper, but Serna denies any wrongdoing. “I never exerted any influence and I didn’t do anything …

Insurers should not underestimate next influenza pandemic’s severity, risk experts say

Risk experts are warning insurance companies that they may be underestimating their risk if they assume that a new influenza pandemic would be no worse than the 1918 influenza pandemic. While some published studies have already illustrated the effects of …

Ins and outs on Beacon Mutual board

Rhode Island Gov. Donald Carcieri suffered at least a temporary setback in his campaign to fire two Beacon Mutual Insurance Co. board members but has managed to replace one other director who resigned. Superior Court Judge Steven Forunato has temporarily …

Alaska Legislature rejects self-insurance bill as session comes to end

Alaska legislators concluded the 2006 regular session this month and in the final hours rejected a bill opposed by insurers that would have encouraged more employers to self-insure for workers’ compensation. Legislators also declined to pass a measure that could …

Despite catastrophe losses, soft pricing continues in commercial insurance market, buyers report

Although property and general liability insurance rates increased in the first quarter of 2006, all indications point to a continuing soft commercial insurance market, according to the Risk and Insurance Management Society Bench-mark Survey. The survey, conducted by Advisen Ltd., …

Rensselaer model of New Orleans levee points to layer of clay

Preliminary findings from asimulation project suggest that during Hurricane Katrina the 17th Street Canal levee in New Orleans may have slid on a layer of weak clay just beneath the peat that underlies the earthen structure. Researchers at Rensselaer Polytechnic …

West leads nation in car theft; Auto theft declines for second straight year

Des Plaines, Ill.-based National Insurance Crime Bureau (NICB) reported that for calendar year 2005, the West, and particularly California, leads the nation in auto theft. All of the nation’s top 10 areas with the highest vehicle theft rates are in …

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