News Currents

Lloyd’s posts more than $7 billion in record pre-tax profit What a difference a year makes. On March 29, Lloyd’s announced pretax profits for 2006 of $7.2 billion compared to the $202 million loss it posted in 2005. Lloyd’s also …

N.J. ruling could affect 10,000 drunk driving cases A breath test used in thousands of drunken driving cases in New Jersey went on trial earlier this month, when the state Supreme Court considered whether the instrument provides reliable blood-alcohol level …

Banks’ total insurance revenue dipped The nation’s bank holding companies (BHCs) experienced a slight decline of 1.3 percent in their total insurance revenue from $44.1 billion in 2005 to $43.5 billion in 2006. Citigroup Inc. (N.Y.), Wells Fargo & Co. …

Maryland agents get notice relief Maryland insurance agents are applauding the General Assembly for relieving them of liability in the delivery of notices about flood and homeowners insurance. The Senate and House of Delegates unanimously passed companion bills (Senate Bill …

Congressional hearings examine the need for national disaster solution Two U.S. Senate committees — the Committee on Banking, Housing and Urban Affairs, and the Committee on Commerce, Science and Transportation — met this month to examine the response of the …

Ohio AG accuses U.S. companies of making, selling lead paint Ohio’s attorney general filed suit against 10 major U.S. chemical companies and paint makers, accusing them of continuing to make and sell lead paint while knowing it presented health hazards. …

95% of claims from 2006 Ind. hail storm closed, industry group says Industry trade group the Insurance Institute of Indiana reported that more than 95 percent of claims from the April 14, 2006, hail storm have been resolved, and complaints …

Insurers fight impression their big profits are at claimants’ expense The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent. St. Paul Travelers’ earnings rose sixfold in the fourth …

Ill. insurer, Hortica, alerts public to data loss Florists’ Mutual Insurance Company (Hortica), an Illinois-based provider of employee benefits and insurance to companies in the horticultural industry, reported that a locked shipping case containing magnetic backup tapes cannot be located. …

High gas prices won’t put a damper on travel and watersports Water sports enthusiasts, motorcyclists and RV roadsters aren’t going to let high gas prices ruin their summer fun. They are willing to “pay to play” to keep their sporting …