A special task force is recommending that Florida’s state-backed property insurer, Citizens Property Insurance, be permitted to raise its rates beginning in 2010 and that restrictions on what homeowners it can insure be more tightly enforced. The panel of elected …
American International Group Inc. (AIG) named Russell Johnston president and CEO of AIG Environmental, a unit of AIG Commercial Insurance. Johnston joined AIG in 1990 serving in senior management positions within AIG’s Risk Management Group, including president of National Accounts, …
Spending to stomp out wildfires could be reduced by training and rewarding homeowners to practice fire-safety defense, Montana lawmakers said, as they presented several bills intended to cut costs. The bills could force insurers to offer discounts to homeowners living …
While the maximum potential exposed insurance limits resulting from the alleged Bernard Madoff Ponzi scheme are estimated to be above $6 billion, the range of direct insured losses will be a far smaller number, most likely somewhere between $760 million …
Sometimes a Little Adversity Goes a Long Way, Thomco CEO Says A little more than 10 years ago Greg Thompson, CEO of the Georgia-based insurance services firm Thomco Inc., discovered his accounting manager was stealing from the company. One day …
The California Department of Insurance has approved rate increases for several workers’ compensation insurers. California Insurance Commissioner Steve Poizner had recommended a 5 percent increase in his rate advisory. However, several insurers requested increases in excess of 5 percent, including: …
For the moment the economic recession is driving the global stagecoach, while climate change is riding shotgun, but it’s not as bad as it could be. Reports from Europe point to the fact that the P/C industry’s exposure to the …
U.S. regulators have asked nine major insurance companies, including Allstate Corp. and Travelers Cos. Inc., to provide information about how they set prices for homeowners’ coverage. The Federal Trade Commission said it ordered the companies to provide data about credit-based …
Drunk Driving Crackdown “It’s a wakeup call” —Rhode Island State Sen. Leonidas Raptakis (D-Coventry), commenting on a report that ranked the Ocean State among the three worst in the nation when it comes to policies that curb drunk driving. Raptakis …
Sometimes a Little Adversity Goes a Long Way, Thomco CEO Says A little more than 10 years ago Greg Thompson, CEO of the Georgia-based insurance services firm Thomco Inc., discovered his accounting manager was stealing from the company. One day …
