Study assesses impact of Florida property insurance legislation 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 …
Agents advised: fundamental shift in compensation coming 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 …
Law enforcement to be first users of Texas’ financial responsibility system Event based process to be implemented first, ongoing verification to start later A statewide system to verify that drivers in Texas have insured their vehicles to the extent required …
Dallas National challenges ratings downgrade A.M. Best Co. recently downgraded the financial strength rating of Dallas National Insurance Company (DNIC), Dallas, Texas, and the insurer has challenged that move. DNIC President and Chief Executive Officer Chris Nehls took issue with …
State Farm to reopen 350 hurricane claims in Louisiana Holly Beach, La., October 3, 2005 – Nothing is left of the community of Holly Beach, once home to 300 residents and a favorite destination for thousands of tourists and fishermen. …
Fire outlook: 2007 wildfire season looks wicked Fire scientists are predicting an above-average wildfire season from May through August 2007, according to the National Interagency Fire Center Predictive Services Group based in Boise, Idaho. In its “National Wildland Fire Outlook,” …
Willis rejects insurers’ alternatives for contingent commissions After a review of the supplemental compensation plans recently proposed in the marketplace by certain carriers, Willis Group Holdings reported that it will not be accepting these incentive arrangements because, it says, they …
Lloyd’s and Economist Intelligence Unit report warns of threats from political violence 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 …
Risk managers report total cost of risk continues downward trend 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 …
Pa. insurers: merger won’t harm competition 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 …
