The economic downturn is spurring anxious drivers to fraudulently dump unwanted vehicles for insurance money, according to research by the Coalition Against Insurance Fraud. Officials in nearly a dozen state and local jurisdictions around the U.S. report clear warning signs …
Insufficient Warning “I think all three agencies have been irresponsible in not accurately warning citizens.” —Stephen Smith, executive director for the Southern Alliance for Clean Energy, criticizing federal, state and Tennessee Valley Authority officials for their handling of safety concerns …
On Nov. 5, 2008, the insurance information firm Advisen issued an updated forecast of insurance losses likely to arise from the credit crisis, estimating aggregate directors and officers (D&O), and errors and omissions (E&O) losses of $9.6 billion, up from …
In light of the enormous losses and cascading failures triggered by the financial crisis, companies across the United States will be looking to their insurance policies for loss mitigation. However, recent developments in several states bolstered policyholders’ ability to defeat …
In Financial Turmoil, Agents and the Industry Must Work Together It has been said that “a rising tide lifts all boats.” That also raises the question, what happens to the boat when the tide goes down? The answer is that …
“Agricultural insurance plays an important role in stimulating investment in agriculture and in stabilizing farmers’ income,” concludes a recently issued report from Swiss Re. The report, “Setting up sustainable agricultural insurance: the example of China,” suggests that the country’s experience …
Sioux Falls City Council members voted on Jan. 5 to issue bonds for a levee project, but they hope it’s included it the federal economic stimulus package. The $38 million will be used to finish raising the levees around the …
Despite a state budget crisis and a crumbling national economy, Iowa legislators will nonetheless take on one of the most expensive problems in state history–flood recovery. No one is sure of the price tag, but all agree it’s enormous. And …
A bulletin from Aon’s London office notes that “with insolvencies set to increase in 2009, some 20 percent more of SMEs have turned to credit insurance this year to protect their balance sheet than in 2007.” Aon’s Trade Credit division …
Railroad operator CSX Corp. has hired New York investment banker Goldman, Sachs & Co. to help determine what to do with the money-losing luxury resort. The aim is to make the White Sulphur Springs landmark a viable business entity, Jacksonville, …
