Puerto Rico News

States Promise Quicker Insurance Product Approvals Under New System

State regulators have reached a milestone in their efforts to streamline product regulation, with a centralized approval system for certain life and financial products on the verge of becoming reality. After three years of lobbying, the required number of states …

Liberty Mutual Distributes Disaster Guides Nationwide

The 2006 hurricane season begins in one week, and homeowners from Corpus Christi to Coral Gables to Cape Cod hopefully are heeding the advice of government officials, disaster relief organizations, and insurers by taking actions to protect their homes and …

Liberty Opens Puerto Rico Branch

Liberty International Underwriters (LIU) – a division of the Boston-based Liberty Mutual Group – has opened an office in San Juan Puerto Rico, as part of its “overall strategy of getting closer to brokers.” The new office joins LIU’s 2006 …

Ticket Warning: Rural Young Men in Pickups Least Likely to Buckle Up

Seat belt use is reaching record levels, so just who are the holdouts who fail to buckle up? Often they are young men who live in rural areas and drive pickups, the government says. About 48 million people do not …

Schmelzer to Head Insurance Guaranty Fund Group

The National Conference of Insurance Guaranty Funds (NCIGF) has selected a property/casualty trade association executive to serve as its next chief executive. Roger H. Schmelzer will begin his duties with the Indianapolis-based organization on June 5. Schmelzer comes to NCIGF …

OSHA Cites 14,000 Employers for High Worker Injury Rates

OSHA 14,000 http://www.osha.gov/as/opa/foia/hot_12.html Approximately 14,000 employers have been notified that injury and illness rates at their worksites are higher than average and that assistance is available to help them fix safety and health hazards, the Occupational Safety and Health Administration …

Closer Look: Insurance Associations

Editor’s note: This is the second article in a series on Western insurance associations. Part I of this article appeared in the April 3, 2006, western region publication beginning on page 47. As people migrate to the West, insurers’ must …

Western Insurance Associations: How the West is run

Editor’s note: This is the second article in a series on Western insurance associations. Part I of this article appeared in the April 3, 2006, western region publication beginning on page 47. As people migrate to the West, insurers’ must …

PUERTO RICO’S COUNTER-SIGNATURE LAW UPHELD

The U.S. Court of Appeals for the First Circuit has refused to overturn a ruling striking down Puerto Rico’s controversial countersignature law that required non-resident commercial insurance brokers to have the countersignature of a Puerto Rico resident agent before they …

Okla. State Senate Passes Interstate Insurance Compact

Oklahoma Insurance Commissioner Kim Holland reported that the state senate passed the Interstate Insurance Product Regulation Compact, a measure Holland said was a priority for her, by a vote of 42-0. The measure passed the Oklahoma House unanimously in February. …