National Underwriter P&C September 10, 2012
A high-profile law group has jumped into a fight against the alleged mislabeling of products by food manufacturers—a move that has the insurance industry on its toes.
On behalf of several named defendants and “all others similarly situated,” Don Barrett, a Mississippi lawyer leading the legal charge against food manufacturers, says ConAgra “deceives unsuspecting Californians into purchasing food products that contain undisclosed substances such as liquefied petroleum gas, propane, butane” and other chemicals and artificial ingredients in...
Elkay Manufacturing limits itself neither in the production of its ever-expanding spate of products for homes and businesses—nor in the protective measures it takes on behalf of its thousands of workers in the U.S. and abroad.
Elkay’s Workers’ Comp exposures are not dissimilar to those of other manufacturers: extensive hand/shoulder activity and lifting/standing, which contribute to carpal tunnel syndrome; tendonitis; and shoulder, back and knee strains.
Successful risk managers will tell you that expertise in insurance and in their employer’s line of business are not the only talents an RM must possess. Strong communication and leadership skills, decisiveness under pressure and an inherent curiosity are additional traits that set top risk managers apart.
Less than one year after its unsuccessful pursuit of Transatlantic Holdings, Validus Holdings says it has reached an agreement to buy Flagstone Reinsurance Holdings for about $623 million in cash and stock.
Legislation imposing sweeping reforms on California’s Workers’ Compensation system was passed by the state legislature Aug. 31 and sent to Gov. Jerry Brown for his signature.
Despite huge losses from catastrophes last year, reinsurers began 2012 in solid shape—but the companies benefited from factors that might not be present going forward, and the industry will require renewed focus on underwriting, ratings agencies say.
Personal auto rates appear poised to rise at an accelerated pace, according to one analyst firm, and insurers may just be waiting on the market’s top dog to lead the charge.
The month of August saw one major insurance-brokerage firm purchase the P&C brokerage operations of a bank as USI Insurance Services announced its acquisition of TD Insurance Inc.
Kevin Kimbrough is a principal and head of national sales at Saybrus Partners, whose team of insurance experts offer consulting services to financial-services and wealth-management firms. It is a subsidiary of the Phoenix Cos., a boutique life insurance and annuity company.
State farm last year quietly opened a storefront in Chicago’s trendy Lincoln Park. There’s nothing about the location to suggest insurance; a peek inside reveals a coffee bar, comfy furniture and young java drinkers working on their laptops—just like any Starbucks.
Understanding the personal exposures of directors and officers presents a particular challenge for multinational companies. After all, the extent of these individuals’ duties, the range of potential lawsuits and the regulatory landscape vary widely from country to country.
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