Voters in the state of Washington have rejected a measure to inject private insurer competition into the state’s workers’ compensation system. The insurance industry hoped to open up the state’s workers’ compensation insurance system to the private market and eliminate …
$2.4 Billion American International Group, Inc. (AIG) reported a net loss of $2.4 billion for the third quarter of 2010, compared to net income of $455 million in the third quarter last year. The loss was attributable to restructuring and …
Addressing Changes in EU and U.S. Regulations; North American Lloyd’s Reorganization Sean McGovern, Lloyd’s general counsel and, since February 2010, the director of Lloyd’s North America, may still have time to pursue his favorite pastime – sailing – but he …
Industry’s $40M Research Center May Someday Lead to Lower Catastrophe Claims For those who question the intelligence of insurance companies, here’s a new industry development that should answer those questions once and for all: The insurance industry is ecstatic because …
New Insurance Products Cover Risks Created by New Laws and Regulations The federal government’s crackdown on fraud and errors in Medicare and Medicaid is raising liability issues for firms that specialize in managing claims and billing for these programs – …
Ohio Mutual, Casco Indemnity Ohio Mutual Insurance Group (OMIG) agreed to acquire N.E. Corp. and its wholly-owned subsidiary Casco Indemnity Co., a property and casualty insurer located in Saco, Maine. The transaction is expected to be completed by the end …
The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) said that its political action committee, InsurPac, distributed more than $1.7 million in the 2010 campaign cycle resulting in a 93 percent congressional victory rate. In the …
Privately held insurance broker Lockton Companies expanded its St. Louis, Mo., office with the addition of Timothy George as vice president and producer. George comes to Lockton after more than 20 years at Aon Risk Services, where he most recently …
Simple Steps to Improve Agency Cash Flow Cash flow today is probably more critical to small businesses than anytime in 20 or maybe even 40 years. This is especially true for agencies. I have seen many articles written about agencies …
Company Progressing on Mass Market Strategy Fireman’s Fund’s financials, like other insurance carriers’, got bruised a little in the first half of 2010, following some heavy catastrophe losses. But company President and CEO Mike LaRocco said he’s “very bullish” about …
