Alabama News

III Promotes Weisbart to Chief Economist

Dr. Steven N. Weisbart, vice president and economist for the Insurance Information Institute, has been named chief economist of the organization, announced Dr. Robert P. Hartwig, president of the III. Weisbart will oversee the Institute’s program of economic research and …

Insurers Balk as House Panel Votes to Add Wind Coverage to Flood Program

Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted yesterday to add wind coverage to the National Flood Insurance …

One-Third on Coast Will Resist Evacuation, Says Harvard Survey

According to a new survey of people in high-risk hurricane areas, one-third (31 percent) of residents said if government officials said they had to evacuate due to a major hurricane this season, they would not leave. This is an increase …

Size doesn’t matter

Big or small, company size is said not to matter in the insurance industry. At a recent agent/broker conference, Rick Quagliaroli, president and CEO of Strongwood Holdings Insurance Corp., told the audience that there are benefits to doing business with …

My New Markets

Vacation Income Property Nuts & Bolts: Middle Oak is offering insurance designed exclusively for vacation income property. What is covered: homes, condos, short term or year round rentals, owner use, two nights, seasonal etc. In the name of a trust, …

Study Says Alabama Tied for Second in Most Uninsured Motorists

A national study suggests Alabama’s mandatory auto insurance law has had little effect on the number of uninsured driver on state roads since the Legislature enacted it in 1999. The Insurance Research Council, a nonprofit study group funded by insurance …

People and Places

Less than six months after being promoted to the job, Joseph J. Beneducci tendered his resignation as CEO of Fireman’s Fund Insurance Co. Chuck Kavitsky, president of Allianz of America and the former Fireman’s Fund chief executive whom Beneducci replaced, …

My New Markets

Truckers, Motor Truck Cargo Nuts & Bolts: Frontline Underwriters Inc., an independently owned and operated wholesale MGA, specializes in the placement of motor truck cargo, and offers physical damage and truckers’ liability. Dollars: $10,000 to $250,000. p:Carrier: Rated “A” by …

After Formaldehyde Complaints, FEMA to Test Air Quality in Trailers

Federal agencies will test air quality in trailers housing Gulf Coast hurricane victims, an official said July 20, a day after documents revealed that government lawyers discouraged investigating reports of high formaldehyde levels in them. The Federal Emergency Management Agency …

My New Markets

Nutraceuticals Nuts & Bolts: MarketScout is offering commercial general liability or products on a claims made basis, defense inside the limits. Target risks include accounts with 20 or fewer products, new ventures and importers. Herbals, botanicals, vitamins, minerals, enzymes, and …