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The Professional Insurance Agents of New York State Inc. has commended New York State Insurance Superintendent Eric Dinallo on his proposal for regulations on the medical treatment of workers injured on the job. The proposed standards come as a result of workers’ compensation legislation adopted by the state this past March. “We commend the superintendent… Continue reading PIANY Commends WC Medical Treatment Best Practices

Next week the full U.S. House of Representatives will take up a revised extension of the Terrorism Risk Insurance Program, offering some concessions to a Senate-passed bill but still proposing significant expansion of the $100 billion federal backstop. The newly revised House bill debuted yesterday before the House Rules Committee, which scheduled a vote on… Continue reading House Will Vote Anew on Terrorism Bill

A series of Fifth Circuit rulings last week could change the landscape for insurers facing Hurricane Katrina claims, with companies paying less to cover storm damage than some expected in January. The rulings favor the insurance industry on an issue that has been at the heart of the litigation from the start: whether provisions in… Continue reading Series of Rulings Could Result in Insurers Paying Less in Katrina Claims

The Bush administration and the mortgage industry in unveiling a plan to help more than one million struggling homeowners have embarked on a controversial project: choosing winners and losers from the rubble of the subprime-mortgage meltdown.    Under the deal, formally released yesterday, the industry would voluntarily help as many as 1.2 million homeowners who… Continue reading White House Subprime Plan Not Embraced by All

Today German reinsurer Munich Reinsurance Co. stated it was in talks with Cevian Capital, confirming “Te Finanical Times” that the Swedish activist investor had bought a stake in the carrier.    The Financial Times reported stated that Cevian, backed by billionaire investor Carl Icahn, had taken a stake of nearly 3% in Munich Re and… Continue reading Munich Re in Talks with Cevian Capital

The Hartford Financial Services Group, Inc. has announced the appointment of Kevin D. Sanborn as vice president of strategy for its property-casualty operations. In this position, Sanborn will report to Sean Fitzpatrick, senior vice president for strategic business development and will head The Hartford’s P&C strategic initiative group. “Kevin brings outstanding experience from a career… Continue reading Hartford Names VP of Strategy for P/C Operations

A survey of over 150 insurance senior executives from the UK, US, Bermuda and Continental Europe by lawyers, Norton Rose, indicates a strong desire for greater global regulatory harmonization. More than 90% of respondents from all regions believe greater harmonization should be achieved, with opinion being strongest in the UK at 94%, followed by 88%… Continue reading Insurance Companies Want Greater Global Regulatory Harmonization

Travelers announced on Wednesday its pledge to reduce total U.S. greenhouse gas emissions by seven percent from 2006 to 2011. The initiative is a result of the company’s participation in Climate Leaders, the U.S. Environmental Protection Agency’s (EPA) industry-government partnership that works with companies to develop comprehensive climate change strategies.    “By setting a long-term… Continue reading Travelers Announces Pledge to Help Reduce U.S. Greenhouse Emissions

Thomas E. Riley, Regional President of Brown & Brown, Inc., and Daniel J. Dalton and Jack W. Lynn, principals in the Dalton Insurance Agency, LLC, of Glassboro, New Jersey, today announced the asset acquisition of Dalton Insurance Agency, LLC by a subsidiary of Brown & Brown, Inc. Dalton Insurance Agency, with annualized revenues of approximately… Continue reading Brown & Brown Announces Asset Acquisition of Dalton Insurance

A plan to include a temporarty freeze on introductory mortgage-interest rates that would otherwise jump higher in the next few years in order to help struggling homeowners avoid losing their properties will be announced by President Bush today. The plan seeks to address the rising tide of foreclosures by making it easier for lenders to… Continue reading Bush to Announce Temporary Housing Mortgage Rate Freeze