Risk Management

Not only did Eric Dinallo do an excellent job as New York's insurance superintendent in the most difficult of times, but he's destined for far bigger positions down the road, says Editor In Chief Sam Friedman in his blog today at www.NUSamSoapBox.com.

A federal bankruptcy court has sided with Travelers Insurance Company over an attempt by an insured to reach a settlement with asbestos claimants without the approval of the carrier in a scheme the court said could financially benefit the insured.

Lawsuits related to climate change could expand faster than the explosion of asbestos claims and have significant impact on insurers, Swiss Re is warning in a new report.

The German Bankers Association is calling on Congress to create an optional federal charter for insurers, saying federal regulation would promote "better regulation with no less scrutiny" than under the current system.

The Federal Emergency Management Agency must accelerate development of its plan to improve the nation's ability to respond to a national catastrophe, the Government Accountability Office said.

New York Insurance Department Superintendent Eric Dinallo, who is reported as a likely candidate for elective office will resign his post July 3 to take an academic post, Gov. David Paterson announced today.

The Travelers Companies Inc. said it has established a think tank, The Travelers Institute, to participate in public policy debates on matters of interest to the property-casualty insurance sector as well as the financial services industry.

Florida Governor Charlie Crist yesterday signed into law a measure that could raise homeowners insurance rates up to 10 percent for policyholders with the state-created Citizens Insurance Corp.