P & C Radar

Insurance operations sale profit assures fat payout - Melbourne Herald Sun

Tue, 11 Dec 2007 06:07:16 PST

Insurance operations sale profit assures fat payout
Melbourne Herald Sun, Australia - 20 minutes ago
... re-insurance and general insurance operation -- which includes the Cobalt and Gordian businesses -- to Bermuda-based Enstar Group for $585 million. ...

Wells Fargo Announces Strategic Alliance With Great American Insurance Group (Marketwire)

Tue, 11 Dec 2007 05:44:00 PST

Wells Fargo Insurance Services, Inc., America's largest bank-owned insurance brokerage and a subsidiary of Wells Fargo & Company, said it has formed a strategic alliance between its Wells Fargo Special Risks, Inc. subsidiary and Great American Custom Insurance Services Division of Great American Insurance Group, a leading underwriter of specialty property and casualty insurance.

Will Insurance Cover Subprime Lending and Securities Litigation? - FINalternatives

Tue, 11 Dec 2007 05:36:17 PST

Will Insurance Cover Subprime Lending and Securities Litigation?
FINalternatives, NY - 20 minutes ago
D&O insurance typically covers the directors and officers and the corporate-policyholder (where entity coverage is present). Similarly, standard form E&O ...

AMP sells reinsurance operation - Sydney Morning Herald

Tue, 11 Dec 2007 05:00:30 PST

AMP sells reinsurance operation
Sydney Morning Herald, Australia - 26 minutes ago
... of its closed reinsurance and general insurance operation, which includes the Cobalt and Gordian businesses, to Bermuda's Enstar Group for $585 million. ...

Insurance tips for Identity Theft Prevention and Awareness Month - Zanesville Times Recorder

Tue, 11 Dec 2007 03:33:49 PST

Insurance tips for Identity Theft Prevention and Awareness Month
Zanesville Times Recorder, OH - 37 minutes ago
Some insurance companies even include it as part of their homeowners insurance policy, while others sell it as a stand alone policy or as an endorsement to ...

Cd'A in top 20 safest small cities

Tue, 11 Dec 2007 03:08:58 PST

COEUR d'ALENE -- A survey funded by a major insurance group finds Coeur d'Alene is the 18th most secure small city in the U.S.According to the survey contracted by Farmers Insurance Group of Companies...

Should you say yes to rental car insurance? It depends - USA Today

Mon, 10 Dec 2007 23:14:07 PST

Should you say yes to rental car insurance? It depends
USA Today - 43 minutes ago
Avis, for example, sells five kinds of coverage: a loss damage waiver, supplemental liability insurance, two types of personal accident insurance and ...
Should you buy car rental insurance? San Jose Mercury News
all 2 news articles

Insurance Companies Making Record Profits - Daily News - Galveston County

Mon, 10 Dec 2007 21:34:31 PST

Insurance Companies Making Record Profits
Daily News - Galveston County, TX - 7 minutes ago
One issue that has plagued Galveston County homeowners recently is the rising cost of homeowners insurance and the flood of cancellations of policies by ...

Beyond the Firewall - Wall Street Journal

Mon, 10 Dec 2007 21:01:12 PST

Beyond the Firewall Wall Street Journal - 25 minutes ago Fred Danback, chief information officer and managing principal at New York-based Integro Insurance Brokers, nearly fell for one of these targeted attacks ...

Ice twice is doubly damming [14 mins ago] - NewsOK.com (subscription)

Mon, 10 Dec 2007 20:27:28 PST

Ice twice is doubly damming [14 mins ago]
NewsOK.com (subscription), OK - 44 minutes ago
Unusual or not, ice damming typically is a covered peril in Oklahoma homeowners' insurance policies, according to state insurance officials. ...

Lloyds: Profit still on the rise despite £200m hit - Business Report

Mon, 10 Dec 2007 20:25:50 PST

Lloyds: Profit still on the rise despite £200m hit
Business Report, South Africa - 3 minutes ago
Lloyds said its UK retail banking and insurance and investments units had continued the strong growth seen in the first half of this year, but wholesale ...

AMP sells closed insurers for $585m - The Australian

Mon, 10 Dec 2007 18:51:57 PST

AMP sells closed insurers for $585m
The Australian, Australia - 4 minutes ago
... Bermuda-based Enstar Group, which is listed on New York’s Nasdaq stock exchange. Reinsurance is taken out by insurance companies to protect themselves. ...

Regulators Approve Insurers' Link-Up - Hartford Courant

Mon, 10 Dec 2007 18:47:16 PST

Regulators Approve Insurers' Link-Up
Hartford Courant, United States - 1 hour ago
State Auto is using the affiliation with Patrons to enter the New England market, where Patrons sells auto, homeowners, and some business insurance. ...

The Hartford Falls Short - Hartford Courant

Mon, 10 Dec 2007 18:47:08 PST

The Hartford Falls Short
Hartford Courant, United States - 10 minutes ago
The same range was given for small commercial lines alone, and for homeowners' insurance. Net written premium volume in auto insurance, though, ...

... but Lloyds TSB escapes comparatively unscathed - Independent

Mon, 10 Dec 2007 17:58:47 PST

... but Lloyds TSB escapes comparatively unscathed
Independent, UK - 30 minutes ago
... Lloyds' finance director, said the bank was increasingly confident about its growth prospects as sales momentum in retail banking and insurance picked ...

Insurance claims begin to arrive following Northwest storms - The Oregonian - OregonLive.com

Mon, 10 Dec 2007 16:15:17 PST

Insurance claims begin to arrive following Northwest storms
The Oregonian - OregonLive.com, OR - 11 minutes ago
Homeowners have to buy flood insurance from the National Flood Insurance Program. Although some mortgage companies require people to carry flood insurance ...

Allied World to Buy Converium Insurance - Motley Fool

Mon, 10 Dec 2007 15:29:47 PST

Allied World to Buy Converium Insurance
Motley Fool - 26 minutes ago
Holdings Ltd. said Monday it will buy reinsurer Converium Insurance (North America) Inc. for an undisclosed amount. Pembroke, Bermuda-based Allied World ...

5 Ways To Lower Your Homeowners Insurance - Best Syndication

Mon, 10 Dec 2007 13:23:03 PST

Best Syndication

5 Ways To Lower Your Homeowners Insurance
Best Syndication, CA - 33 minutes ago
Homeowners insurance is one of those things we're glad we have when there's an emergency, but the rest of the time we kind of resent paying. ...

Texas Unemployment Insurance Rate Cut Should Save Employers $270M

Mon, 10 Dec 2007 10:27:47 PST

A state agency said it cut the unemployment-insurance tax rate, which will save Texas employers $270 million next year. The rate cut was due to low recent jobless rates and the Legislature's decision...

Subprime E&O Risk Varies By State

Mon, 10 Dec 2007 09:52:35 PST

Cities find new ammo for war with FEMA - Rhea County Online

Mon, 10 Dec 2007 08:45:34 PST

Cities find new ammo for war with FEMA
Rhea County Online, TN - 26 minutes ago
Residents and businesses in that area that have a federally backed mortgage would be required to carry flood insurance if the map is not changed on appeal. ...

onebeacon Appoints Terry Thompson Chief Underwriting Officer - PR Newswire (press release)

Mon, 10 Dec 2007 06:09:57 PST

onebeacon Appoints Terry Thompson Chief Underwriting Officer
PR Newswire (press release), NY - 16 minutes ago
As one of the oldest property and casualty insurers in the United States, onebeacon traces its roots to 1831 and the Potomac Fire Insurance Company. ...

A.M. Best Increases Rating of Aspen Insurance Limited and Maintains Rating of Aspen Insurance UK Limited with Stable Outlook (Business Wire)

Mon, 10 Dec 2007 04:00:00 PST

HAMILTON, Bermuda----Aspen Insurance Holdings Limited today announced that A.M. Best has increased the financial strength rating of Aspen's Bermuda subsidiary, Aspen Insurance Limited, to 'A' with a "Stable" outlook, and affirmed the 'A' rating of Aspen Insurance UK Limited and upgraded the outlook to "Stable".

Made a New Hire? Be Sure to Report It - The Ledger

Mon, 10 Dec 2007 03:15:22 PST

Made a New Hire? Be Sure to Report It
The Ledger, FL - 41 minutes ago
Most mid-size companies need property insurance, general liability insurance, product liability insurance, commercial auto insurance, workers' compensation ...

Great Office Parties Start with Planning - The Ledger

Mon, 10 Dec 2007 03:15:17 PST

Great Office Parties Start with Planning
The Ledger, FL - 13 minutes ago
Businesses also should consider an umbrella policy, which could provide an additional $1 million in liability. With that said, holiday parties for employees ...

Securing Wind Insurance Is One Thing. Paying For It Is Another. - The Ledger

Mon, 10 Dec 2007 03:15:16 PST

Securing Wind Insurance Is One Thing. Paying For It Is Another.
The Ledger, FL - 12 minutes ago
The losses bankrupted several insurance companies, including Vanguard Fire and Casualty Co. of Maitland, Teehan said. Others withdrew from the state ...

Planning for the unexpected - nebusiness.co.uk

Mon, 10 Dec 2007 02:25:01 PST

Planning for the unexpected
nebusiness.co.uk, UK - 2 minutes ago
Even a small spill onto a customer in your restaurant can cost you thousands without Public Liability insurance. No matter how careful or well trained we ...

Buyer beware: Contracts give insurers ‘low liability’ - Czech Business Weekly

Sun, 09 Dec 2007 23:08:52 PST

Buyer beware: Contracts give insurers ‘low liability’
Czech Business Weekly, Czech Republic - 32 minutes ago
... 30 percent concerned life insurance, 18 percent vehicle liability insurance, 11 percent vehicle accident insurance and 17 percent property insurance. ...

State to test program to stop uninsured drivers

Sun, 09 Dec 2007 22:00:01 PST

White House Declares Washington Major Disaster Area

Sun, 09 Dec 2007 22:00:00 PST

President George W. Bush has declared a major disaster exists in the State of Washington and ordered federal aid to supplement state and local recovery efforts in the area struck by severe storms, flo

Hanover to Lower Motorcycle Insurance Rates in Mass. Next Spring

Sun, 09 Dec 2007 22:00:00 PST

The Hanover Insurance Group, Inc. reported that it is lowering insurance premiums in Massachusetts for new and renewal motorcycle policies by 8.5 percent. The new rates will be effective on April 1

Allstate's Smart Policies - Barron's

Sun, 09 Dec 2007 21:03:16 PST

Allstate's Smart Policies
Barron's - 19 minutes ago
ALLSTATE ISN'T THE ONLY inexpensive property and casualty insurance stock. AIG, Chubb and Travelers all trade at low multiples of earnings and book value. ...

Roadmap to benefits (Rough Notes)

Sun, 09 Dec 2007 17:39:03 PST

Ask some property/casualty producers how they feel about selling employee benefits, and you may get a response of pained puzzlement.

A closer look: What can FEMA aid cover - KATU

Sun, 09 Dec 2007 14:02:25 PST

A closer look: What can FEMA aid cover
KATU, OR - 24 minutes ago
Other relief programs: Crisis counseling for those traumatized by the disaster; income tax assistance for filing casualty losses; advisory assistance for ...

Across Kansas: State insurance commissioner tapped to lead national group

Sun, 09 Dec 2007 03:00:00 PST

Kansas Insurance Commissioner Sandy Praeger is the new president of the National Association of Insurance Commissioners.

Court Intrigue for the King of Torts - Sarasota Herald-Tribune

Sun, 09 Dec 2007 02:40:38 PST

Court Intrigue for the King of Torts
Sarasota Herald-Tribune, FL - 2 minutes ago
Tort reform is likely to be an issue in the coming presidential election; the Democratic presidential candidate John Edwards has been criticized over his ...

Get working on the levees - Belleville News Democrat

Sun, 09 Dec 2007 01:20:08 PST

Get working on the levees
Belleville News Democrat, USA - 37 minutes ago
Such a designation would give our area 10 years to restore the levees, avoid severe restrictions on development, and keep flood insurance costs from ...
Leaders press case for updating levees Belleville News Democrat
Flood of changes Seattle Times
Repairs on Metro East levees may mean tax hikes St. Louis Post-Dispatch

...

Flooded? Insurance may not cover it - HeraldNet

Sun, 09 Dec 2007 00:03:12 PST

Flooded? Insurance may not cover it
HeraldNet, WA - Dec 9, 2007
The National Flood Insurance Program handled by the Federal Emergency Management Agency does provide coverage for people who live in designated floodplains. ...

How to kiss off holiday liability at work parties

Sat, 08 Dec 2007 21:00:00 PST

Holiday parties can be a potential liability land mine for employers. The following are suggestions from Atlanta-based law firm Fisher & Phillips L.L.P. as to how companies can throw a party and reduce their risk of getting sued: If possible, do not serve alcohol; if alcohol is served, do so with...

Working through ebay can create a good business - Dayton Daily News (subscription)

Sat, 08 Dec 2007 18:24:29 PST

Working through ebay can create a good business
Dayton Daily News (subscription), OH - 17 minutes ago
Home-based businesses require special insurance, that could include contents insurance, business interruption insurance, general liability insurance, ...

Flood victims face a new problem: their insurers - Guardian Unlimited

Sat, 08 Dec 2007 15:30:27 PST

Flood victims face a new problem: their insurers
Guardian Unlimited, UK - 26 minutes ago
'Insurers want to continue to provide flood insurance. The right decisions from the government will ensure that flood insurance remains widely available and ...

Insurance complaint rankings released - Honolulu Star-Bulletin

Sat, 08 Dec 2007 03:50:34 PST

Honolulu Star-Bulletin

Insurance complaint rankings released
Honolulu Star-Bulletin, HI - 1 hour ago
They also include no-fault hearing requests. By Nina Wu USAA Insurance Co. yielded the lowest ratio of complaints regarding auto insurance claims in Hawaii ...

Wisconsin: Lawmaker wants to make auto insurance mandatory - Dubuque Telegraph Herald

Fri, 07 Dec 2007 14:11:31 PST

Wisconsin: Lawmaker wants to make auto insurance mandatory
Dubuque Telegraph Herald, IA - 29 minutes ago
By AP MADISON (AP) -- Wisconsin drivers would be forced to buy liability insurance under a bill a state lawmaker is shopping around for support again. ...

Endurance Closes Acquisition of armtech Insurance Services - Business Wire (press release)

Fri, 07 Dec 2007 13:16:09 PST

Endurance Closes Acquisition of armtech Insurance Services
Business Wire (press release), CA - 10 minutes ago
PEMBROKE, Bermuda--(BUSINESS WIRE)--Endurance Specialty Holdings Ltd. (NYSE:ENH), a specialty provider of property and casualty insurance and reinsurance, ...

Tort Reform and the 2008 Election - InjuryBoard.com

Fri, 07 Dec 2007 13:08:21 PST

Tort Reform and the 2008 Election
InjuryBoard.com, FL - 19 minutes ago
By Rob Curtiss While it has been overshadowed by Iraq and immigration thus far, tort reform is sure to be a hotly disputed issue in the upcoming election. ...

D&O Suits Growing In Europe, Report Says

Fri, 07 Dec 2007 12:33:17 PST

Lawley links 2 N.J. operations

Fri, 07 Dec 2007 11:54:37 PST

Lawley Insurance has announced the merger of its two New Jersey branches to form Lawley-Sachs-Cantrell.

Insurance claims: Mother Nature tests companies large and small - Newport News Times

Fri, 07 Dec 2007 10:23:36 PST

Insurance claims: Mother Nature tests companies large and small
Newport News Times, OR - 18 minutes ago
The US Congress National Flood Insurance Program was established with the National Flood Insurance Act of 1968, providing a federal flood insurance program. ...

State offers first steps toward flood recovery - The Oregonian - OregonLive.com

Fri, 07 Dec 2007 10:07:30 PST

State offers first steps toward flood recovery
The Oregonian - OregonLive.com, OR - 34 minutes ago
If you have flood insurance, contact your insurance agent right away. For information about the National Flood Insurance Program, call 1-800-427-4219. ...

Sedgwick, UnitedHealth enter strategic alliance

Fri, 07 Dec 2007 09:34:19 PST

to offer employers a one-stop shop for a variety insurance services. Memphis-based Sedgwick will provide administration of worker's compensation, disability claims and other absence management s...

Industry wakes up to data loss risk - Lloyd's List (subscription)

Fri, 07 Dec 2007 09:11:22 PST

Lloyd's List (subscription)

Industry wakes up to data loss risk
Lloyd's List (subscription), UK - 15 minutes ago
But if the unthinkable does happen to a business, specialist insurance products can mitigate the financial cost of any loss. E&O insurance provides cover ...

Liability Rates Adjust Downward - Insurance News Net (press release)

Fri, 07 Dec 2007 08:48:42 PST

Liability Rates Adjust Downward
Insurance News Net (press release), PA - 9 minutes ago
D&O pricing has become more competitive because state and federal regulations help prevent bad actions which lead to claims. D&O rates were down 17% in ...

Has Tort Reform Worked Too Well in Texas? - Insurance Journal

Fri, 07 Dec 2007 08:26:30 PST

Has Tort Reform Worked Too Well in Texas?
Insurance Journal, CA - 5 minutes ago
Speaking at the 2007 annual meeting of the Texas Surplus Lines Association in Austin, Schumann told attendees that the reforms are working so well, ...

Wildfires cost Philadelphia Consolidated Holding $7.5M

Fri, 07 Dec 2007 08:16:51 PST

Insurance carrier Philadelphia Consolidated Holding Corp. said late Thursday that its estimated pre-tax loss caused by the October California wildfires is $7.5 million. (PHLY)

Ohio winter storm reference information from the Ohio Insurance ... - Wilmington News Journal, OH

Fri, 07 Dec 2007 06:02:33 PST

Ohio winter storm reference information from the Ohio Insurance ...
Wilmington News Journal, OH, OH - 25 minutes ago
The OII is a trade association representing insurance companies and agent groups for the property/casualty insurance industry. Its primary objective is to ...

First American pays $5 million to settle Florida kickback charges - Inman.com (subscription)

Mon, 19 Nov 2007 00:30:16 PST

First American pays $5 million to settle Florida kickback charges
Inman.com (subscription), CA - 1 hour ago
... Colorado Department of Insurance, First American agreed to refund about $24 million to consumers nationwide without admitting liability or wrongdoing. ...

That hazards of insurers' taking a Katrina case to trial

Mon, 19 Nov 2007 00:07:38 PST

This is a very good Becky Mowbray story in yesterday's Times-Picayune following up on the recent Kodrin v. State Farm jury verdict. I say that with some bias, as I was interviewed for the story.

Here's the story's lede:

When the first federal insurance trial in Louisiana against State Farm Fire and Casualty Co. wrapped up last week, the jury's message was clear: If companies want to deny payments under homeowners insurance policies because the damage was instead caused by flood, they darn well better be able to prove that flood was indeed what destroyed the home.

I think that is correct. Legal arguments over the allocation of the burden of proof will be considered in the Fifth Circuit appeal of the Broussard v. State Farm case, but when you have a jury pool where everyone knows someone who was hit heavily by Katrina -- or maybe they themselves were -- the practical reality is that jurors are sharpening their knives and waiting to slice and dice any insurer's trial presentation if they sniff any odor they don't like. Read the whole story, it provides some trial details I didn't know about, and refers to the interview I did with a Kodrin juror that was

...

Lloyd's braced for wave of credit crunch claims - Telegraph.co.uk

Sun, 18 Nov 2007 16:08:38 PST

Lloyd's braced for wave of credit crunch claims
Telegraph.co.uk, United Kingdom - 22 minutes ago
... notification system to alert it to every potential claim from executives who may trigger their Directors and Officers (D&O) insurance policies if sued. ...

Allstate screws California - Blogging Stocks

Fri, 11 May 2007 06:31:48 PDT

Allstate screws California
Blogging Stocks - 20 minutes ago
(NYSE: ALL) customer in California for homeowners' insurance, you have a new reason to hate insurance companies. The company is going to halt new homeowners ...

Capitol: Doctor's advice for lawmakers against tort reform ... - NewsOK.com (subscription)

Fri, 11 May 2007 05:41:02 PDT

Capitol: Doctor's advice for lawmakers against tort reform ...
NewsOK.com (subscription), OK - 12 minutes ago
AP Video. The bill, which passed the Senate, 25-23, placed a $300000 "hard cap” on pain-and-suffering awards. Twenty-four Republicans and one Democrat voted ...