News

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  Analysis: Best Practices for Monitoring Property, Casualty and WC Claims

  By Steve Leveroni, Robin Hendrickson  |  June 18, 2013

  In claims management, preventive measures are still the best way to control costs. However, claims are going to occur, so having the right plan in place to manage them becomes critical.

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  New York State to Outsource World Trade Center Claims Handling

  By Bill Coffin  |  June 18, 2013

  As of June 24, New York State will no longer handle its WTC health claims.

• Brown & Brown E&S Professional Liability Combined Under ECC

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 18, 2013

  Insurance broker Brown & Brown says its E&S professional liability products will now be marketed and sold under the ECC Insurance Brokers Inc. brand.

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  Use of Opioid Painkillers in California WC Holding At Near-Record Highs

  By Bill Coffin  |  June 18, 2013

  Schedule II opoids, such as morphine, remain California's prescription drug of choice for injured workers

• Survey: Legal Malpractice Claims Spiking Due to Recession

  By Anya Khalamayzer, PropertyCasualty360.com  |  June 18, 2013

  Leading legal malpractice insurers experienced a deluge of claims in 2012, including those in excess of $50 million, made up of complex lawsuits that originated during the economic recession of 2007 to 2009.

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  Forgotten Tragedy: The West Fertilizer Explosion

  By Chad Hemenway, PropertyCasualty360.com, Caterina Pontoriero, PropertyCasualty360.com  |  June 18, 2013

  PC360 News Editor Chad Hemenway sits down with Tommy Muska, mayor of (and insurance agent in) West, Texas—a city rocked on April 17 by a massive explosion at the West Fertilizer Co., which destroyed 140 homes, an apartment complex, a nursing home, schools and municipal infrastructure.

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  Obama Administration Threatens Farm Bill Veto

  By Arthur D. Postal, PropertyCasualty360.com  |  June 18, 2013

  The Obama administration has cited increases in crop insurance subsidies as one of the reasons it has threatened to veto the “Farm Bill.”

• RT Specialty's Brady Hired to Lead Burns & Wilcox Unit for Wholesale Brokerage

  By Staff Writer  |  June 18, 2013

  The Kaufman Financial Group says Denis Brady has been hired as President of Burns & Wilcox Brokerage, an independent business unit that will be solely dedicated to wholesale insurance brokerage.

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  Industry Supportive of N.Y. City Council's Fight for TRIA Extension

  By Arthur D. Postal, PropertyCasualty360.com  |  June 18, 2013

  With insurance industry support, the New York City Council Committee on State and Federal Legislation on passed a resolution supporting the extension of the Terrorism Risk Insurance Act.

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  Woodring Named IIS Chairman

  By Staff Writer  |  June 18, 2013

  The International Insurance Society named A. Greig Woodring as its new chairman.

• Florida Citizens CFO Resigns, Heads to Domestic Insurer

  By Staff Writer  |  June 17, 2013

  Following a successful six-year tenure as Florida Citizens Property Insurance Corp.'s CFO, Sharon Binnun has accepted a position in the private sector.

• Brother of Marsh CEO Named President of Victor O. Schinnerer

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 17, 2013

  The brother of the chief executive of insurance broker Marsh will lead Victor O. Schinnerer & Co., an underwriting manager of professional liability and specialty insurance programs.

• Industry Reaction: Mayor Bloomberg’s $20B Plan to Shield NYC from Climate Change

  By Anya Khalamayzer, PropertyCasualty360.com  |  June 17, 2013

  New York City Mayor Michael Bloomberg announced an ambitious, multi-decade plan that would put $20 billion toward protecting the city against natural disasters caused by climate change.

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  Royce Defends FIO, Questions NAIC's Credibility

  By Arthur D. Postal  |  June 17, 2013

  Rep. Ed Royce (R-Calif.) makes the case for a strong FIO and downplays the role of the NAIC.

• Hannover Re Says Flood Losses No Threat To FY Net Income Target

  By Edward Taylor - Reuters  |  June 17, 2013

  Hannover Re says it expects to make a profit of around $1.07 billion despite recent flood damage losses in Europe.

• Firefighters Begin to Tame Record-Breaking Colorado Wildfire

  By Keith Coffman, Reuters  |  June 17, 2013

  Assessment teams increased the number of homes destroyed to 485, the highest property loss total from a wildfire on record in Colorado.