President Barack Obama said Tuesday his healthcare overhaul needed a public insurance option to enforce market “discipline,” but stopped short of saying he would veto legislation without one. Obama, who has made healthcare reform a top legislative priority, said he …
A provision that would release future owners of General Motors for product liability on cars sold prior to the company’s bankruptcy is being challenged by the attorneys general of eight states. GM’s bankruptcy filing, now working its way through a …
The impact of the financial crisis is the most significant risk facing the insurance industry, according to a new report by Ernst & Young. In its second annual business risk report – insurance 2009, model risk and regulatory intervention rank …
The Supreme Court of Texas has ruled that employers generally do not owe a duty to third parties for the activities of off duty employees that occur away from the work site, even if those activities ultimately lead to a …
A.M. Best Co. has downgraded the financial strength rating to ‘D’ (Poor) from ‘C-‘ (Weak) and issuer credit rating to “c” from “ccc-” of Florida-based Argus Fire & Casualty Insurance Company, both with negative outlooks. “These rating actions reflect Argus’ …
Reno, Nev.-based Employers Holdings Inc. announced Standard & Poor’s will add it to the S&P 600 SmallCap Index. The S&P 600 is considered the preferred small capitalization-market index in the United States and is comprised of 600 leading publicly held …
Global insurance broker Willis HRH has named Tom Gamble as National Producer. Based in New York, Gamble will be responsible for new business development, enhancing client retention, expanding existing relationships, and driving cross-selling opportunities with large, multinational clients based in …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A’ (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of ProAssurance Group and its group rated members. Best also upgraded the ICR to “bbb” …
Dallas-based wholesale insurance broker, Van Wagoner Companies, a wholly owned subsidiary of Lloyd’s broker Chesterfield Group, has appointed Simon Bancroft as executive vice president. Bancroft has more than 30 years of experience in the United States and London property and …
The Independent Insurance Agents of Texas (IIAT) announced that Plano independent insurance agent Don Medlin recently received the Drex Foreman Award at the association’s 112th Annual Conference & Trade Show. Named after Drex Forman, who served as the chief executive …
