Californians can expect more tax increases and cuts in state services, but it’s unlikely that a sale of some of the state workers’ compensation insurer’s assets will be used to shore-up the budget. In his State of the State 2010 …
After 30 years at Chubb Corp, Thomas Motamed joined Chicago-based commercial lines insurer CNA Financial in January 2009 as chairman and CEO. In this edited interview with Insurance Journal’s Andrew Simpson, Motamed talks about his goals and changes at CNA, …
New York regulators are aggressively pursuing plans for a reincarnation of the New York Insurance Exchange and expect to assemble a “working group” of industry insiders within the next two weeks who will guide the revival of a Lloyd’s of …
South Carolina authorities say 2009 has been the safest year on the state’s roads in 14 years. Preliminary reports say 881 people died on the state’s roads last year, compared to 921 deaths in 2008. The State of Columbia reports …
U.S. securities fraud lawsuits slid in 2009 as stocks rose and the credit crisis eased. Investors filed 169 prospective securities class-action lawsuits in 2009, down 24 percent from 223 in the prior year, according to a study set for release …
Bills to improve health care, protect consumers, ban the use of credit scoring , streamline the licensing of agents and brokers, and broadening the definition of what’s considered “emergency care” are all on Washington’s Office of the Insurance Commissioner’s (OIC) …
It’s no secret. 2009 was a tough year. Just as tough as 2008; maybe even more so. The economy continued to tank. More businesses shut their doors. Revenues dropped for just about every business. Independent insurance agencies were no exception. …
Insurers contributed $30.1 billion to California’s gross state product in 2007, accounting for about 2 percent of the state’s gross domestic product, according to a new report written by the Insurance Information Institute. California has a $1.85 trillion economy that …
Once again, agents and brokers are wishing for a harder insurance market in the New Year. But while most agents hope for firmer insurance pricing in 2010, just slightly more than a quarter (26.9 percent) predict a harder market will …
Munich Re’s CEO Nikolaus von Bomhard issued a statement on the reinsurer’s web site that left no doubt concerning the disappointment he (and the Group) feel following the failure of the UN’s Copenhagen Climate Conference to achieve any major agreement. …
