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More than 300,000 people evacuated their homes in San Diego as some of the state’s worst wildfires, fueled by strong winds, scorched more than 100,000 acres, burned down 700 homes, and caused at least one death. As of Tuesday early morning, more than 5,000 homes are threatened in the San Diego area. At least 14… Continue reading Southern California Scorched, In a State of Emergency

The Republican candidate debate last night, set in Orlando, Florida, among the issues discussed, delved into what to do about a looming fiscal crisis for the Social Security and Medicare programs, an issue largely absent from the six previous debates featuring all the front-runners.     Former Senator Fred Thompson, 65, said the government may… Continue reading Republican Debate Highlights Candidates’ Social Security, Medicare, Among Other Issues

Seven major fires are burning throughout Southern California, from Santa Barbara to San Diego County near the Mexico border, fueled by strong Santa Ana winds, high temperatures and low humidity, said Daniel Berlant, a spokesman for the California Department of Forestry. High winds are expected to last through Oct. 23, making it “very difficult for… Continue reading Strong Winds Set Southern California Ablaze

North American Insurance Leaders, Inc. (NAO) a special purpose acquisition corporation, announced today that it will name Mark W. Haushill as its Chief Executive Officer and a member of its Board of Directors effective upon the closing of its pending acquisition of the Deep South Companies (‘Deep South’). On August 10, NAO announced that it… Continue reading NAO Names CEO of Newly Acquired ‘Deep South’

According to a survey by the National Association for Business Economics (NABE), most U.S. companies foresee weaker second-half growth and a “substantial” slowdown in housing, and plan to hire and invest less. The survey was conducted from Oct. 1 to Oct. 16, and included responses from 113 members of the business economist group.    … Continue reading US Companies See Significant Second-Half Housing Slowdown

On Friday DuPont Co. announced its plan to appeal a U.S. jury’s verdict awarding the plaintiffs in class-action lawsuit nearly $200 million. The plaintiffs claimed they were sickened by pollution from a former zinc smelting plant. “We are extremely disappointed by the outcome of the Spelter case,” DuPont’s General Counsel Stacey Mobley said. “With today’s… Continue reading DuPont to Appeal Verdict in Class Action Suit

Homeowners insurance policyholders who subscribe to at least one additional policy with their insurer tend to be more satisfied than those who only have a homeowners insurance policy, according to the J.D. Power and Associates 2007 Homeowners Insurance Study(SM) released today.    The study finds that a large majority of homeowners insurance policyholders — 70… Continue reading J.D. Power & Associates Reports: Multiple Policies Lead to Greater Satisfaction and Loyalty among Homeowners Insurance Customers

Munich Reinsurance Company at a pre-press briefing today in Baden, Baden, Germany where the world’s reinsurers gather annually, stated that with weather-related natural hazards expected to increase in number and severity in the future due to climate change, the need for precise information on insured risks, particularly in densely populated Europe, is required. According to… Continue reading Munich Re Says More Info is needed on Rising Natural Catastrophes; Presents Cat Assessment Tools

The American Insurance Association (AIA) and The Reinsurance Association of America (RAA) today issued a report proposing that insurance and mitigation subsidies – similar to subsidies for home heating oil and telecommunications services – be offered as a way to ease the homeowners’ insurance challenges in the Atlantic and Gulf Coast States.    The record… Continue reading AIA & RAA REPORT: Easing the Homeowners’ Insurance Crisis on the Atlantic and Gulf Coasts

According to a report by New York-based Moody’s Investors Service Inc., the outlook for North American property/casualty commercial lines is stable. Analysts in the report concluded that the stability of P/C commercial lines insurance “reflects the strength of commercial insurers’ earnings over the past several years, despite heavy catastrophe losses and improvements to risk adjusted… Continue reading Moody Report Says P/C Business Insurance Stable