News

California Gov. Arnold Schwarzenegger today proclaimed a state of emergency in Los Angeles and Monterey Counties, due to wildfires that started on Aug. 26 and have burned about 13,000 acres to date.

With a focus on tax, regulation, investment and other issues for risk retention groups at its annual conference, Sept. 23-25, the National Risk Retention Association said it also will feature experts discussing retention of customers and growth.

While insurers have made technology investments to strengthen relationships with agents, they have not invested in systems to help their underwriters achieve high performance, a recent Accenture report said.

Insurers' uncertainty over future performance of their loss-riddled investment portfolios will increase their demand for underwriting profits to meet earnings objectives, a rating service said.

Tropical Storm Danny is expected to avoid North Carolina skirting the coast of the Outer Banks, but it could impact Massachusetts with near hurricane force winds between Saturday and Sunday, forecasters said.

Travelers insurance cautioned businesses today that its polling showed a need for companies to develop and enforce employee policies for postings on social media like blogs, Twitter and Facebook.