Massachusetts News

The Road to a Paper-Free Environment Goes Beyond Technology

Paperless Agencies Create Better Workflows, Enhance Service, Security and Save Money, Too On the side of a Utah highway, the client had been pulled over by a state trooper at a traffic stop. It was a frustrating experience, made even …

Study Finds Economic Costs of Federal Cat Legislation Significant

Taxpayers In At Least 20 States Could Face Multi-Billion Dollar Tax Burden Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar burden on taxpayers in at least 20 …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Insurance Intermediary E&O Market Detail: Quadrant Insurance Managers makes available a professional liability program designed …

Should States Raise Driving Age?

Taking aim at a longstanding rite of passage for 16-year-olds, an influential auto safety group is calling on states to raise the age for getting a driver’s license to 17 or even 18. Adrian Lund, president of the Insurance Institute …

Maryland Among States Debating Drive Less, Pay Less Plan

Maryland’s private auto insurance industry is objecting to a proposal by the state’s insurer of last resort to lower rates as gasoline and food prices rise. At a hearing in Baltimore, industry representatives told Insurance Commissioner Ralph Tyler that the …

People

The Chubb Corp has named Richard G. Spiro executive vice president and chief financial officer, effective Oct. 1. Spiro, 44, succeeds the retiring Michael O’Reilly, who will remain at company until the end of 2008 to assist in the transition. …

It Figures

5.4% The workers’ compensation loss cost reduction approved for Maryland workers’ compensation carriers effective Jan. 1, 2009, thanks to a continued decline in frequency of claims. The decrease represents about $37 million in savings. $6.6 Million Value of settlement between …

Declarations

Limited Options “In our view, AIG’s options are limited.” โ€”Atlantic Equities analyst Alan Devlin, citing the giant insurer American International Group’s deteriorating stock price, and a more than tripling in AIG credit spreads since May. Fake Insurance Is a Real …

Why Agents Need to Know If Their Clients Blog

Getting ‘SLAPP’ed: Individuals Blog at Their Own Risk; Exposure of Business Clients Depends on Policy Endorsements Blog-related personal injury suits have produced judgments ranging between $7,500 and $11.3 million. A Dade County, Florida real estate developer in January 2008 filed …

Blogs Can Get Insurance Clients ‘SLAPP’ed

A Dade County, Florida real estate developer in January 2008 filed a $25 million lawsuit against a real estate blogger alleging, among other charges, defamation of character based on the blogger’s opinion published solely on his blog (MiamiCondo Investments). Hollo …