News

As the current economic turmoil leads to an escalation of lawsuits against directors and officers, one expert is warning that a new variety of D&O liability claims may be created related to government bailout efforts.

There is little if any risk of an intense hurricane striking New York City and flood hazard maps are flawed when it comes to predicting the potential risk for flooding in the city, a catastrophe modeler declared at a conference here.

There is no evidence AIG is engaged in predatory pricing of its property-casualty business, the U.S. Government Accountability Office and Pennsylvania's insurance commissioner told Congress last week.

More coordination is needed among the panoply of organizations seeking to make insurance industry technology more uniform and user-friendly for agents, according to the new president of the AMS Users Group.

The NAIC moved forward on a pair of controversial issues last week, voting to revisit the use of consumer credit information to determine insurance rates, as well as approving a modified survey to assess climate risks facing carriers.

With a new administration in power, an economic crisis in full bloom and insurance at the top of the news because of problems at AIG, there never was a more critical time for independent agents to make their voices heard in Washington.