Nebraska News

Buffett, Paulson Agree U.S. Economy Needed Tough Medicine

Former U.S. Treasury Secretary Henry Paulson and billionaire investor Warren Buffett, from different sides of the political spectrum, expressed support Tuesday for the U.S. government’s aggressive steps in 2008 to keep the nation’s banks and economy from a complete meltdown. …

Nebraska Court: Insurers Must Pay in Pollution Case

The Nebraska Supreme Court on Feb. 5 upheld a decision ordering two insurance companies to pay about $550,000 of the cost of cleaning up industrial contamination in Hastings. The ruling sets the standard in Nebraska for determining how much insurance …

Business Moves

Hylant Group, W Group Cincinnati-based insurance brokerage, Hylant Group, and the W Group, a privately owned employee benefit services provider, have merged. The combined organizations will form one of the largest employee benefit firms in the Cincinnati area, the companies …

Business Moves

Swiss Re, Berkshire Hathaway Swiss Re concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written prior to 2004.” The transfer is retroactive to Oct. …

Nebraska Motorcycle Helmet Repeal Crashes, But It May Recover

A proposal to allow motorcyclists to go helmet-free in Nebraska crashed amid insurance worries on Feb. 3, but may recover while state lawmakers are still in session. After a proposal that all motorcyclists need to carry more insurance turned out …

Blue Cross Competitor Sanford Gets OK to Sell Insurance in ND

North Dakota regulators have given approval to Sanford Health Plan to sell health insurance in the state, likely setting up competition with the company that has dominated the North Dakota market for decades but has drawn recent criticism for its …

Buffett’s Berkshire Amasses $1 Billion Stake in Munich Re

Munich Re posted a statutory notice on Tuesday announcing that Berkshire Hathaway’s stake in the company rose to 3.045 percent on January 18, just above the level at which such holdings must be disclosed. “Warren Buffett is an expert at …

Auto Insurance Claims Could Be Opened to Family Members in Nebraska

Nebraska lawmakers may allow car passengers to make liability insurance claims when their family members cause car wrecks. The Nebraska Legislature on Jan. 22 narrowly gave first-round approval to a bill (LB216) that would repeal the state’s so-called guest statute. …

Nebraska Extends Non-Resident Producer Licensing Renewal Period

Effective Feb. 1, 2010, the online renewal period for Nebraska non-resident insurance producer licenses, through the National Insurance Producer Registry (NIPR) at www.nipr.com, will be extended to 90 days prior to the license expiration date, the Nebraska Department of Insurance …

White Mountains Re to Buy Troubled Nebraska-Based Insurer

White Mountains Re Ltd., a wholly owned subsidiary of White Mountains Insurance Group Ltd. has agreed to acquire Central National Insurance Company of Omaha, Neb., from Drum Financial Corporation. In runoff since 1989, Central National has been operated under an …