Category: Show on Homepage

Marsh Inc., the world’s leading insurance broker and risk advisor, has been named “Best Global Insurance Broker” by Reactions Magazine. The award was given to Marsh at a ceremony held in New York on August 28 after Reactions spent months conducting an extensive poll throughout the industry to identify the best firms and people from… Continue reading Marsh Named Best Broker by Reactions Magazine

Under the California Earthquake Authority, established in 1996, two years after the Northridge earthquake, California homeowners who buy earthquake insurance from the state program could see their premiums rise under a bill that passed an Assembly committee Thursday over opposition from the state treasurer and consumer advocates.       When the California Earthquake Authority was… Continue reading CA Policyholders Could Face Higher Earthquake Premiums as State Program is Set to Expire

BancorpSouth Insurance Services Inc., a unit of BancorpSouth Inc., said Friday it will acquire Insurance Network of Jonesboro, Ark. The termsof the deal, set to close Saturday, have not been disclosed. Insurance Network will become part of BancorpSouth’s Little Rock, Arkansas-based insurance division, Ramsey, Krug, Farrell and Lensing.Insurance Network employees will remain with the company.… Continue reading Bancorp to Acquire Insurance Network

According to the J.D. Power and Associates 2007 National Auto Insurance Study released today, a customer’s experience with their carrier is the most important element in policy renewal, outweighing brand image.    The study measures customer satisfaction with auto insurance carriers across five factors. In order of importance, they are: interaction, policy offerings, billing and… Continue reading Survey Says Customer Service Tops When It Comes to Auto Renewals

Discussion regarding Florida’s no-fault auto insurance when legislators meet in September in a special session is not on the table. Yet there is one more proposal to revamp the law in the works by Florida Senator Bill Posey that may make the discussion.    Sen. Bill Posey is drafting a bill that’s very similar to… Continue reading Florida Senator Has Plan to Revamp State’s No-Fault Law

A survey by the Mortgage Bankers Association (MBA) found that mortgages on properties that aren’t owner-occupied (mostly investment homes) account for between 21% and 32% of the defaults on prime-quality home loans in Arizona, California, Florida and Nevada, states where overdue payments are mounting fast. During the housing boom, these four states were among the… Continue reading AZ, CA, FL, NV among States Where Investor Loan Defaults Mount

According to London-based Fitch Ratings Ltd, the sub-prime investment crisis is not likely to have a large effect on the global reinsurance market. If the current problems cause a wider lack of confidence in investment markets, then there could be some impact, but overall reinsurers’ exposure to sub-prime mortgage losses is “modest,” noted Mark Nicholson,… Continue reading London-based Fitch Says Sub-Prime Market Unlikely to Have Big Effect on Global Reinsurance Market

After Fed Chairman Bernanke’s remarks on Friday, stocks rose while Treasury securities remained lower. The Standard & Poor’s 500 index rose 0.8 percent to 1,469.23 at 10:09 a.m. in New York, after advancing as much as 1.3 percent earlier. The yield on the benchmark 10-year note was at 4.55 percent.     Countrywide Financial Corp.,… Continue reading Market Reacts to Fed Chairman’s Speak, Bush’s Plan

President Bush will ask Congress to support plans to allow the government-basked mortgage issuer, Federal Housing Administration (FHA), to guarantee loans for borrowers who are more than 90 days behind with their payments.     This move by the White House is in effort to help millions of homeowners with sub-prime mortgages avoid defaulting. Sub-prime… Continue reading Bush to Provide Aid to Homeowners Caught in the Sub-prime Cross Hairs, Fed Chairman Speaks About Credit Market

The U.S. subprime mess is reverberating here and across the pond as politicians, regulators and financial specialists outside the United States are seeking an oversight role of American markets, banks and rating agencies. They feel that the United States is exporting financial products, but losses to investors in other countries suggest that American regulators are… Continue reading Global Investors Blame US Loan Crisis on Lax Regulations, Want Oversight