Massachusetts News

Agents take aim at Zurich compensation, disclosure settlement

Two associations for independent insurance agents have urged a federal court to reject recent settlement provisions between Zurich Insurance and states that affect thousands of agents who were not involved in the original dispute with the states. The National Association …

SEC sues RenRe officers over alleged finite reinsurance scam

The Securities and Exchange Commission, which has been investigating a number of finite reinsurance transactions for the past two years, lowered the boom on three former officers of the Bermuda-based reinsurance group Renaissance Re. The government agency charged with regulating …

Figures

$1.2 million The number of motor vehicles thefts nationwide in 2005. That’s about 416.7 motor vehicles stolen for every 100,000 inhabitants. $7.6 billion The estimated total property losses due to motor vehicle theft in 2005. That’s an average of $6,173 …

NATIONAL FLOOD INSURANCE PROGRAM – EASTERN STATES ONLY

* Number of Insurance ** Written State Policies In-Force In-Force ($) Premium In-Force Alabama 47,166 7,650,924,800 22,330,614 Connecticut 32,179 6,280,217,200 25,116,027 Delaware 20,491 3,958,905,900 10,529,933 District Columbia 1,498 150,850,700 298,834 Florida 2,065,573 387,068,560,800 767,771,237 Georgia 79,855 16,105,493,100 40,670,998 Kentucky 20,935 …

Business Moves

USI, Universal American Agency USI Holdings Corp. of Briarcliff Manor, N.Y., acquired a book of business from Universal American Insurance Agency Inc., which sells personal property and casualty coverages to home buying customers of one of the nation’s leading home …

People

Ernie Csiszar, the Romania-born former South Carolina regulator who two years ago was named president and chief executive officer of the then newly-formed Property Casualty Insurers Association of America, resigned from PCI effective Sept. 30. Csiszar indicated that he plans …

Business Moves

USI, Universal American Agency USI Holdings Corp. of Briarcliff Manor, N.Y., acquired a book of business from Universal American Insurance Agency Inc., which sells personal property and casualty coverages to home buying customers of one of the nation’s leading home …

How Florida CFO hopefuls hope to solve insurance crisis

The theme of career business person versus career politician pervades the race for Chief Financial Officer in Florida, considered by some to be the second most powerful position in state government. Democratic candidate Alex Sink said she is committed to …

Declarations

Coordinated research needed “Hurricanes, by far, cause more economic damage to a more widespread area than any other natural disaster. This bill takes sound, scientific recommendations and builds from them a foundation for better, more coordinated research. Given the enormous …

New Markets

Liability Long Term Care Facilities Nuts & Bolts: Houston, Texas-based London American Risk Specialists Inc. is offering CareSurance, a new liability insurance program designed to meet the needs of skilled, assisted and independent long term care (LTC) facilities across America. …