People Suburban Chicago-based Property Casualty Insurers Association of America appointed Genio Staranczak as its chief economist. Dr. Staranczak will be responsible for economic analysis on the full range of public policy issues facing the industry. He will incorporate analyses of …
Former FEMA director promotes government-industry disaster mediation
News Currents Federal and state governments should work with private insurance companies to sponsor disaster mediation programs, according to a former head of the Federal Emergency Management Agency. James Lee Witt, president of James Lee Witt Associates and FEMA director …
Supreme Court to Hear States’ Case Against EPA Over Climate Change
Running for president, George W. Bush said he was ready to regulate carbon dioxide. But in early 2001, shortly after taking office, he changed his mind. It would be too expensive to force reductions of the leading heat-trapping “greenhouse gas” …
Illinois freshman regulator McRaith gives insurance view from Midwest
Question: What is the specific impact of the 2005 catastrophes on the Midwest? McRaith: There are three identifiable impacts on Midwestern residents. First, since the cost of reinsurance has gone up so significantly because of these catastrophes that cost is …
Swiss Re Names Ferguson Chairman U.S. Holding; Board Member
Roger Ferguson, former Vice Chairman of the US Federal Reserve Board, will join Swiss Re as Chairman of Swiss Re America Holding Corporation and a member of the reinsuer’s Executive Board He succeeds Jacques Dubois who will retire by the …
NAIC ADOPTS RESOLUTION ON CATASTROPHIC RISK
The National Association of Insurance Commissioners adopted a revised resolution on catastrophic risk at its summer meeting in Washington D.C. “The resolution does a very good job of outlining many of the problems that we are currently facing,” said Donald …
Illinois freshman regulator McRaith gives insurance view from Midwest
Question: What is the specific impact of the 2005 catastrophes on the Midwest? McRaith: There are three identifiable impacts on Midwestern residents. First, since the cost of reinsurance has gone up so significantly because of these catastrophes that cost is …
U.S. Regulators May Scrap Full Collateral Requirements for ‘Alien’ Reinsurers
In an abrupt departure from procedures that have been in place since Wold War II, the National Association of Insurance Commissioners has taken a first step towards scrapping the “full collateral” requirements imposed on non-U.S.-based reinsurers. In a motion, tabled …
Kan. Commissioner Praeger Attends Interstate Compact Press Conference
Kansas Insurance Commissioner Sandy Praeger was among a gathering of other state regulators today at the National Press Club in Washington D.C. for a news conference which outlined plans for the implementation of the Interstate Insurance Product Regulation Compact. The …
West Va. Agents Cited by National Group for Legislative Wins
The Independent Insurance Agents & Brokers of America (the Big “I”) recently honored one of its state associations for its legislative accomplishments in 2005. The Maurice Herndon Award for legislative accomplishments went to the Professional Independent Insurance Agents of West …
