The PIA Western Alliance has always supported vigorous insurance oversight and penalties should be imposed when agents or brokers break the law. As an association we regularly school our members to make sure their practices are in compliance with the …
Munich Re, the world’s largest reinsurer, and Swiss reinsurer Converium have received subpoenas from the Securities Exchange Commission and New York State Attorney General Eliot Spitzer as part of the ongoing investigation into accounting practices at US bond insurer MBIA. …
A June 1 hearing date has been set for a reinsurance unit of Bermuda-based White Mountains to meet with Florida regulators following allegations the unit was selling insurance in the state without a license. According to The Royal Gazette, published …
New York Attorney General Eliot Spitzer and Insurance Superintendent Howard Mills on Tuesday announced that the Insurance Department would appoint a consultant to audit years of alleged improper booking of workers’ compensation premiums at American International Group (AIG). The practice …
Florida insurance regulators are probing the dealings of 17 reinsurers selling finite risk policies. Florida’s Insurance Commissioner Kevin McCarty said that he has issued investigative subpoenas to the reinsurers requesting information related to finite reinsurance activities. McCarty addressed the action …
Lloyd’s underwriters believe that buyers are more concerned about pricing than current insurance industry investigations – according to new research released Tuesday. The research* also reveals that underwriters see managing the cycle as the most important industry issue in 2005, …
The National Association of Professional Insurance Agents has reiterated its support of contingent commissions being a part of the compensation received by Main Street professional insurance agents. The PIA statement was issued in response to an assertion made by Joseph …
An Interview with Francis Johnson, AAMGA President-Elect Francis Johnson, president of Johnson and Johnson Inc., of Charleston, South Carolina, becomes president of the American Association of Managing General Agents in May. He recently talked to Insurance Journal about the industry …
The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials previously warned, their insurance investigations are not …
New York Attorney General Eliot Spitzer reassured the business world and those affiliated with American International Group that criminal charges are not likely to flow from his department’s continuing investigations of AIG. Also, the attorney for former AIG Chairman Maurice …
