News

Let the dreaded bean-counters beware! Organizations that scale back loss control programs or risk management staff is cutting off their nose to spite their face, warns NU Editor In Chief Sam Friedman in his blog today at www.NUSamSoapBox.com.

Piracy attacks on shipping will be the key topic when marine underwriters convene next month for the American Institute of Marine Underwriters conference in New York, the organization announced.

A National Association of Insurance Commissioners task force voted yesterday to continue using existing model laws as guidelines for a personal lines regulatory framework and rejected a bid for a less restrictive system.

New York Insurance Superintendent Eric Dinallo announced today that he has begun an inquiry into whether Allstate Corporation engaged in illegal participation in unregulated insurance markets.

Following the announcement yesterday that Farmers Group Inc. had purchased 21st Century Insurance for $1.9 billion, Farmers' chief executive suggested that major job cuts are not in the cards for the new acquisition.

The January agreement for government units in charge of New Orleans levees to pay something to property owners damaged by the flooding from Hurricanes Katrina and Rita is now mired in a coverage dispute.