Federal regulation of banking and securities works fairly well, but translating that model to insurance would be a real challenge given the “parochial” nature of state insurance coverage mandates and laws, according to Thomas Hampton, commissioner of the District of …
The New York State Insurance Department has licensed Bergstresser Insurance, Inc., as a captive insurance company. Bergstresser will insure the risks of Dow Jones & Co., the business and financial publishing company with properties including the Wall Street Journal and …
The Colorado Governor’s Office of Information and Technology failed to ensure that state agencies have recovery plans for systems on the state mainframe computer in the event of a disaster, potentially compromising information on taxes, welfare and other critical systems, …
Lexington Insurance Company, a member company of American International Group, Inc. (AIG), has increased its capacity of commercial domestic property terrorism insurance to $250 million from $100 million. “Lexington is committed to providing a meaningful facility for terrorism risks. This …
Most insurance industry analysts predict slower P/C premium growth for 2007, according to an Insurance Information Institute’s annual survey of Wall Street stock analysts and industry professionals released each year on Feb. 2, Groundhog Day. This year’s survey results indicate …
Government and American Red Cross disaster experts from New York, London and Madrid — three cities hit by terrorist attacks in recent years — met last week in New York for a two-day conference to share experiences and improve response …
A state hearing officer recommended Friday that Delaware’s insurance commissioner approve the proposed management buyout and eventual dissolution of Royal & Sun Alliance Insurance Group’s U.S. operations. The proposed buyout was the subject of a lengthy hearing last month, and …
Indiana Insurance, a member of Liberty Mutual Group, announced today that it will host four free, day-long Safer Schools Seminars beginning February 19th at Eastern Kentucky University in Richmond, Ken. Seminars will follow in Murfreesboro, Tenn. and Normal, Ill., before …
With the Terrorism Risk Insurance Extension Act (TRIEA) set to expire in December 2007, experts are speculating whether Congress will renew TRIEA as is, scale back its provisions or scrap it altogether. This widespread debate is already starting to have …
The insurance industry and its customers must not let down their guard concerning loss prevention despite a mild hurricane season and a quiet time on the terrorism front in the U.S., advises an expert in risk and insurance. “It’s part …
