Personal Lines

Florida's government-dominated insurance system needs reform because its current system makes the state less safe and increases the log-term costs to taxpayers, a study by a free market think tank has concluded.

The Insurance Federation of North Carolina said it has named Jennifer Cohen, an attorney with government experience, as its new executive director replacing Joe Stewart.

Standard & Poor's Ratings Services, citing reduced capital levels, said yesterday that it has revised its outlook on Berkshire Hathaway Inc. to negative from stable.

Earlier this year, the president of a major carrier casually noted he did not buy personal lines coverage from his own company for fear of raising ethical conflicts. Check what readers had to say.

Treasury Secretary Tim Geithner told a congressional committee today he will ask Congress Thursday to okay a federal receiver for "systemically important" nonbank financial firms like American International Group.

Only one American sport utility vehicle secured a "good" evaluation in the new strength rating system that the Insurance Institute for Highway Safety has adopted in a push for a tougher standard from manufacturers.

The latest government Consumer Price Index figures show increases for components that impact accident, auto and home claims, the Insurance Information Institute said.

Lloyd's reported today that its 2008 profit plunged to $2.7 billion from $5.66 billion in 2007, but its chief executive said the amount was "a pretty good result," given the current financial market.