Economy News

North Carolina Coastal Broker Ready to Ride Beach Plan Reform Wave

Hanover Excess Sees State Pool Changes A Boost For Business Still Recovering From Recession, Soft Market The Web site for Hanover Excess (www.hanoverxs.com) proclaims that the people at this North Carolina excess and surplus brokerage believe in the “pursuit of …

Declarations

Proud, Not Embarrassed “We are absolutely not embarrassed. In fact, we’re very proud of the success that Pinnacol has realized for the state of Colorado. We are very proud that we have a very viable, stable, competitive system in Colorado.” …

Obama to Push G20 Leaders to Rethink Global Economy

President Barack Obama said Sunday he would push world leaders this week for a reshaping of the global economy in response to the deepest financial crisis in decades. In Europe, officials kept up pressure for a deal to curb bankers’ …

Lloyd’s Chairman: Limiting UK’s Financial Services is ‘Dangerous Talk’

Lloyd’s of London Chairman, Lord Peter Levene, strongly defended the important role financial services play in the UK’s economy in general and in the City of London in particular. Levene chastised policymakers, commentators, theorists and bloggers who have called for …

Zaccaria to Head ACE’s New Client Executive Initiative

The ACE Group of insurance and reinsurance companies has announced the launch of a new initiative designed to enhance the service it provides to meet the complex insurance needs of multinational and large account clients across the globe. The Company …

California to Probe Credit Rating Firms

California Attorney General Jerry Brown issued subpoenas on Thursday to Standard & Poor’s, Moody’s Investors Service, and Fitch Ratings as he launched an investigation of whether they broke state law with the ratings they provided mortgage-backed securities. “These agencies gave …

Equity Risk Partners Launches New Infrastructure, Privatization Group

Equity Risk Partners (ERP) has launched a new practice unit — the Infrastructure and Privatization Group. ERP, a full service insurance brokerage and risk management consulting firm, based in San Francisco, focuses exclusively on the needs of the private equity …

EU Draft Document to Urge G20 to Maintain Support for Economy

European Union leaders will tell the G20 this month that public support to the economy must be maintained and while plans to withdraw it should be drafted now, implementation should come only when recovery is assured. “The G20 should reaffirm …

Florida Insurance Chief: Homeowners Rates Might Rise; State Farm Might Stay

Homeowners insurers doing business in Florida — established as well as new –are losing money and the state regulator says rates may need to go up. Also, the state’s largest private home insurer, State Farm Florida, which wants to leave …

Senate Panel’s 10-Year, $856 Billion Healthcare Plan Excludes Public Option

Senator Max Baucus unveiled his plan for a 10-year, $856 billion healthcare overhaul Wednesday that would revamp insurance rules but does not include a government-run option backed by liberal Democrats. Baucus, the chairman of the Senate Finance Committee, made the …