Did the availability of directors and officers liability insurance products contribute to the credit crisis fueled by investment firms that securitized subprime mortgages and other debt obligations?
If an underwriter stopped by the office a few years ago and proposed that drywall leads to significant pollution liabilities, you probably would have laughed.
Florida Insurance Commissioner Kevin McCarty announced he had signed an order increasing rates for the state-created insurer of last resort's high risk accounts to make them financially adequate.
InsurBanc, the bank founded by insurance agents for insurance agents, said it has joined the American Association of Managing General Agents (AAMGA) as a business services member.
Owners of mid-sized motorboats only use their vessels 50 hours per year on average, according to Boat U.S., a trade organization. Yacht owners, on average, enjoy their investment an average of 75 hours per year.
Marine insurers face a stormy market, battered by declines in trade, expansion of piracy, stalled capital markets and lower investment returns, an insurance brokerage reports.
With high-profile cases like ChoicePoint and TJX acting as a lure, plaintiffs' attorneys are targeting businesses for data security breaches or electronic data loss events...and the lawsuit could be the least of a business's problems.
In the insurance business--as in any business--if you're not growing, you're dying. Growth requires "new"--new products, new markets, and new customers.
After announcing the acquisition of Texas independent agency Insurance Alliance through its Marsh & McLennan Agency subsidiary, president and CEO Brian Duperreault said the brokerage could announce several more agencies by the end of the year.