$81M Punitive Damages in Massachusetts Cigarette Case
A tobacco company that had tried to hook black children on cigarettes was ordered to pay $81 million in punitive damages to the estate and son of a Boston woman who started smoking at age 13, in what...
View ArticleMarsh Agency Buys Pennsylvania’s Trion
Marsh’s retail agency business has acquired Trion Group Inc., the largest privately held employee benefits specialist in the United States with $74 million in annual revenue. Terms of the deal were not...
View ArticleSPECIAL REUTERS REPORT: Inside AIG’s Tortuous Turnaround
During a rainstorm in Washington in early 2009, amid the furor over Wall Street’s post-bailout bonuses, an American International Group employee pulled out an umbrella that had the insurer’s name on...
View ArticleAlabama Tornado Survivors Still Coping 10 Years Later
Whitney Crowder doesn’t remember the day her father died. What happened Dec. 16, 2000, has gone down in state history: Eleven people, including her father and baby brother, died when an F4 tornado hit...
View ArticleArthur J. Gallagher & Co. Acquires Tribeca Strategic Advisors
Itasca, Ill.-based Arthur J. Gallagher & Co.announced it has acquired Tribeca Strategic Advisors LLC located in Mesa, Ariz. Terms of this transaction were not disclosed. Established in 1999,...
View ArticlePresident Obama Expected to Sign Food Safety Overhaul Bill
The ailing U.S. food safety system moved closer Tuesday toward its biggest overhaul in more than 70 years after the House passed legislation that would increase inspections and give regulators the...
View Article2010′s Top Insurance Stories in the West
In 2009, independent insurance agents and brokers faced a “perfect storm” with the economic downturn, premiums at a fraction of what they used to be, and unemployment and home foreclosure rates up,...
View ArticleDemocratic Congress Productive But Unpopular
Perhaps never before has a U.S. Congress done more and been liked less than the one controlled by President Barack Obama’s Democrats that ended Wednesday. It wrapped up its two-year legislative cycle...
View ArticleRatings Recap: Beazley (U.S.), Atradius Trade Credit, HDI-Gerling America
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Connecticut-based Beazley Insurance Company, Inc. (BICI), both with stable outlooks. These...
View ArticleSoutheast’s Top Stories: Disasters That Happened and 1 That Didn’t
The top insurance stories in the Southeast in 2010 included several disasters that caused considerable death and destruction in the region and one that didn’t do as much harm as feared. The April 20...
View ArticleBest Assigns Rating to Allianz Risk Transfer AG
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Allianz Global Corporate & Specialty AG...
View ArticleRatings Recap: Allianz Global (US), Balboa Group, North Light, Heritage
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings of “aa” of Allianz Global Corporate & Specialty North America (AGCS NA), which includes Allianz...
View ArticleReinsurance Renewal Rates On the Decline, Reports Claim
Reinsurance rates for 2011 are falling at the same or greater pace than traditional insurers and further softening of the market is to come, according to two industry reports. For the second year in a...
View ArticleTexas Q1 2011 Workers’ Comp Discount, Interest Rate Set at 3.8%
The Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) has set at 3.8 percent the workers’ compensation interest and discount rate for the first quarter of 2011. This rate is...
View ArticleU.S. Analyst: China May Be ‘Likely Bright Spot’ in Asia Climate Action
The outcome of U.N. climate talks in Mexico this month should boost steps in Asia to curb greenhouse gas emissions, with China a likely bright spot in 2011, a senior analyst at a leading U.S. think...
View ArticleObesity Increases the Risk of Disabling Workplace Injuries
Recent research confirms anecdotal data that work-related injuries are far more costly if an injured worker is obese. In fact, a claim with an obese diagnosis can be 30 times to 60 times more expensive...
View Article2010 Was Year of 20 Million Recalls for Car Makers
Automakers recalled about 20 million vehicles in 2010, led by high-profile recalls by Toyota that prompted new scrutiny of the auto industry’s safety record. The number of recalls this year was the...
View ArticleSix Keys to Harleysville’s Turnaround
Six years ago, Harleysville Group was in need of a big change. The Pennsylvania-based insurer had just come out of the worst performing year in its history. That’s when newly appointed CEO Michael...
View ArticleSet yourself apart from 90% of Americans
In my personal reading and research I’ve come across many books from famous sales and personal performance Guru’s that quote a famous Yale study that extol the virtues of setting goals. I have even...
View ArticleHudson Resigning as Ohio Insurance Director
Ohio Department of Insurance Director Mary Jo Hudson has announced her resignation effective Jan. 10, 2011. Her final work day will be Jan. 7. “I am proud of the many changes that we have implemented...
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