National Underwriter Property & Casualty-March 28, 2011

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  • Commercial Market To Take Biggest Hit From Japan Quake

    Mark E. Ruquet

    As a pair of global reinsurers issued loss estimates in the billions for the March 11 Japan earthquake and tsunami, a Moody’s report indicates that commercial property and casualty insurers could take the biggest hit both in losses and credit worthiness from the event.

  • Donelon Rejects State Farm Rate Hike, Cuts La. Citizens Hike

    Chad Hemenway

    Louisiana Insurance Commissioner Jim Donelon has rejected State Farm’s request for a statewide 14.3 percent homeowners rate hike and approved a reduced rate increase for Louisiana Citizens Insurance Corp., the state’s last resort insurer.

  • Triangle Fire: Reform Forged From Tragedy 100 Years Ago

    Chad Hemenway

    Nearly 150 people, mostly young immigrant women, died 100 years ago during a fire at a garment factory in New York City. From their deaths was born workers’ compensation insurance and safety reform still used by property insurers today.

  • Montage Adds Human Behavioral Analysis To EPL Risk Assessment

    Susanne Sclafane

    Employers and their insurers will have a new tool, grounded in the science of human behavior, available to assess an organization’s vulnerability to employment practices liability lawsuits when Montage Analytics officially rolls out its EPL Risk Index later this year.

  • Insurers, Brokers Settle 2004 Bid-Rigging Lawsuit

    Mark E. Ruquet

    Another chapter has closed on the contingent-commission kickback saga with an agreement reached between a group of insurers and insurance brokers—and their clients who alleged the industry tried to manipulate the business.

  • Banks Say MBIA Undervalued Losses By As Much As $10B

    Mark E. Ruquet

    A group of banks seeking to prevent guaranty insurer MBIA Insurance Corp. from splitting into two companies says the company underestimated its losses by as much as $10 billion to the N.Y. State Insurance Dept.

  • Do You Work With A Jerk?

    Susanne Sclafane

    While proposed statutes may fuel an increase in lawsuits against employers who allow bullies to work for them, right now it’s not illegal to be a jerk at work, according to employment practices liability experts.

  • How Is Lilly Ledbetter Helping You Sell EPLI?

    Dick Weaver

    As demonstrated by the case of Lilly Ledbetter, which spawned the Fair Pay Act of 2009, what appears a non-issue today might not be tomorrow. This makes the purchase of employment practices insurance vital for small and midsize businesses, according to Burns & Wilcox Manager Dick Weaver

  • Myspace, Yourspace: What Employers Must Know About Social-Media Risks

    Joni F. Mason

    The use of social-media sites—Facebook, YouTube, Twitter—has surged at a record-breaking pace over the past few years, and they are now used by employees and employers in almost every workplace—a development that has opened new vehicles for harassment, discrimination and employment-related defamation.

  • Courts: Employers Have No Duty To Keep Medical Marijuana Users

    Chad Hemenway

    Employers are increasingly being confronted with users of medical marijuana on the payroll. Thus far, the courts have sided with the right to terminate or deny employment, but employers are still being advised to shore up drug policies to avoid liability from potentially impaired workers.

  • Appeals Court Tosses Subprime Suit Against AIG D&Os

    Mark E. Ruquet

    A U.S. Appeals Court has thrown out a suit against American International Group Inc. directors and officers, stating that the plaintiffs failed to show that the AIG officials were not acting in the best interest of the company as they faced the subprime market meltdown.

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