Washington News

Report Warns Against Applying Systemic Risk Regulation to Insurers

Blame for the financial crisis and the near collapse of American International Group should reflect “the substantial evidence of fundamental failures in U.S. and foreign regulation of commercial banking, thrift lending, and investment banking,” according to a new report that …

Continental Risk Offers New Small Business Product

Continental Risk based in Lodi, Calif., is now offering a new business owners policy for small businesses that includes additional coverages outside of the typical property/casualty package. The program’s features include: combined property and casualty ISO forms, immediate quoting via …

California’s Poizner Urges No Iranian Investments

Just ahead of Iranian President Mahmoud Ahmadinejad’s Wednesday address to the United Nations in New York, California Insurance Commissioner Steve Poizner encouraged his fellow state insurance commissioners to follow California’s lead and to probe insurance company investments for ties to …

States Give a ‘Thumbs Up’ to Fingerprinting Insurance Producers

Regulators Say Fingerprinting Keeps Criminals Out of the Business Don’t be alarmed, but there are convicted criminals roaming around the country acting as insurance producers. They could be robbers, forgers, possibly even rapists. They got their producer licenses in states …

Environmentalists Say Flood Insurance Program Threatens Desert Riverbeds, Endangered Species

An environmental group is trying to slow development near ecologically fragile dry washes and desert riverbeds in Arizona by targeting the federal agency that provides the flood insurance essential to building there. WildEarth Guardians’ novel approach in its lawsuit against …

People

Zurich in North America named Marcus Cooper as senior vice president for national sales and strategic relationships, effective immediately. Cooper replaces Mike Vaught, who is retiring. Cooper will continue serving as South Central regional executive until a replacement is hired. …

House Passes Surplus Lines Reform Legislation

The House of Representatives passed HR 2571, the Non-Admitted and Reinsurance Reform Act of 2009, on Sept. 9. The bill, authored by Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J, will simplify the tax remittance and compliance responsibilities surplus lines …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Misc. Medical Malpractice Market Detail: NAS Insurance Services Inc. gives agents the ability to provide …

Obama to Push G20 Leaders to Rethink Global Economy

President Barack Obama said Sunday he would push world leaders this week for a reshaping of the global economy in response to the deepest financial crisis in decades. In Europe, officials kept up pressure for a deal to curb bankers’ …

Swett & Crawford Offers Temporary Employee Workers’ Comp Coverage

As the trend toward utilization of leased and temporary employees has grown —an operational business model that helps employers to better manage their labor costs — there has been an increased demand for essential workers’ compensation coverage. In response to …