Economy News

CCC-Mitchell Cancel Merger After Court Grants Injunction Sought By FTC

The United States District Court for the District of Columbia has granted the Federal Trade Commission’s request for a preliminary injunction enjoining CCC Information Services Inc.’s merger with Mitchell International Inc. Following the court decision, the two claims services firms …

TMPAA to Provide a Critical Look at the Insurance Industry

Target Markets Program Administrators Association, Wilmington, DE. With keynote speaker Ben Stein commenting on the current state of our economy, and John Amore (CEO General Insurance, Zurich Financial Services) providing an outlook on the state of the insurance industry, the …

Michigan Denies Auto Insurance Rate Hikes Because of Credit Scoring

Michigan’s regulator has reignited a debate over credit scoring by denying auto insurance companies requested rate increases because their proposed rate schemes include discounts for good credit scores. Commissioner Ken Ross said he has disapproved rate filings for seven insurers …

National Flood Insurance Program Gets Short-Term Extension

The U.S. Senate passed a measure extending the nation’s flood insurance program through September 2009 last night. While the U.S. House of Representatives passed an extension to the National Flood Insurance Program (NFIP) through Sept. 30, 2009, under the omnibus …

Copenhagen Climate Change Conference Commences

One of the largest ever interdisciplinary conferences on climate change will kick-off today in Copenhagen, Denmark. A bulletin from the University of Copenhagen notes that “more than 2,000 participants from around 80 countries” will be attending. The Congress is the …

Mississippi’s Rep. Taylor Renews Push for Federal Wind Insurance Policy

Rep. Gene Taylor, D.-Miss., isn’t letting opposition by major insurance companies keep him from pushing his plan to make wind coverage for properties available through the federal flood insurance program. Taylor’s proposal — the Multiple Peril Insurance Act of 2009– …

A Look at the Transportation Insurance Industry

Industry Still Stalled in a Soft Market But Some Rate Increases on the Horizon Observers of the property and casualty insurance industry, who consider themselves gurus when it comes to predicting cyclical changes, find themselves in a state of perplexity …

Federal Reserve in Uncharted, Risky Territory with AIG Investment

The U.S. Federal Reserve, by taking an equity stake in American International Group, is moving further into uncharted territory and may be risking potentially large investment losses and its independence. As part of the latest bailout effort of the troubled …

Finding a Niche

A Young Company With a Nontraditional Management Style, Heffernan Insurance Brokers Has Shown How an Agency Can Be Young and Successful at the Same Time Top 100 Agency Profile RANKING: No. 11 Agency Name: Heffernan Insurance Brokers Headquarters: Walnut Creek, …

One Size Does Not Fit All

Agents Beware of Coverage Differences in Personal Umbrella Policies A condominium board is involved in a lawsuit that results in a board member being sued. A neighbor’s child is playing in the backyard, falls off a swing and sustains injuries. …