Directors and officers insurance continues to be a highly competitive line. In the first quarter of 2007, D&O prices decreased by 7.7 percent and by more than 12 percent in the last two quarters of 2006 combined, according to the …
The Milliman study shows that recently passed Florida legislation will mean that homeowners will pay less for property insurance. Motorists and small business owners will pay more if an average to large storm hits. The biggest beneficiaries will be homeowners …
Pennsylvania’s two largest insurance companies have formally asked state regulators to approve a change in control of their subsidiaries that would take effect when the nonprofit companies merge. Independence Blue Cross of Philadelphia and Highmark Inc. of Pittsburgh outlined the …
The commercial insurance industry continued to experience an overall decline in total cost of risk in 2006 despite coastal property premium hikes, according to the 2006 Annual Benchmark Survey book from the Risk and Insurance Management Society (RIMS). The average …
A Florida law enacted during a 2007 January special session provides immediate savings for homeowners by shifting potential payments for hurricane losses from the homeowners receiving the current policy benefits to future policyholders, motorists and business owners, according to the …
Rhode Island’s estimated budget deficit could grow by almost $100 million because of a stalled settlement with an insurer accused of deceptive business practices, state officials warn. As part of a massive settlement reached last year, American International Group Inc. …
Global business leaders report they are increasingly concerned about risk; prevents some from investing overseas A new report from Lloyd’s and the Economist Intelligence Unit (EIU) has found that global businesses are becoming increasingly concerned about risks from political violence. …
Contingent commissions for agents and brokers should be watched by regulators but these profit-sharing arrangements do not necessarily have to be eliminated, according to a leading insurance consumer advocate. “I think they need to at least be regulated and moderated,” …
The attack that began in October 2002 by then New York Attorney General, now Governor, Eliot Spitzer against bid rigging and contingent commissions generated significant losses, both in income and competitiveness, for the world’s three biggest global insurance brokers. Fortunately …
Baby Boomers may be more likely to switch brands across a wide variety of products and services, including apparel, cars, prepared foods, and airlines, but when it comes to service oriented categories such as banking and insurance companies, Boomers stay …
