Publication Date: December 30, 2005Advisen -- Medical MalpracticeSource: Akron Beacon Journal"Over the past several years, angry doctors rallied by the hundreds on the Statehouse lawn in Columbus, on Public Square in Cleveland and on Cascade Plaza in downtown Akron..."
Publication Date: December 29, 2005Advisen -- PropertySource: Montgomery Advertiser (AL) (KRT)"Dec. 29--Terrorism insurance isn't just for the big cities -- New York, Chicago and Los Angeles. Autauga County, with roughly 50,000 residents, even has it. And now so does Clarke County, population 27,422..."
Publication Date: December 29, 2005Advisen -- CasualtySource: Business Insurance"WASHINGTON-The American Tort Reform Assn.'s annual list of so-called 'judicial hellholes' continues to shrink in size, according to a report released last week..."
Publication Date: December 29, 2005Advisen -- PropertySource: The Mobile Register (Mobile, AL)"FLORIDA STORM CLAIMS Some insurers settling However, most cases still mired in courts a year after state was hit by four hurricanes Associated Press..."
Publication Date: December 29, 2005Advisen -- Insurance MarketSource: Business Insurance"WASHINGTON-Proponents of a federal terrorism insurance backstop are wasting no time in pondering their next moves after President Bush signed legislation that will extend a scaled-back program through 2007..."
December 29, 2005 The Insurance Journal"At least three people in Texas and one in Oklahoma have died as the result of wildfires that have plagued the two rain-starved states in recent days..."
December 29, 2005The Insurance Journal"The hurricane season made 2005 a year-to-remember, with the southeast encountering the busiest hurricane season of the century, with 26 named storms and 13 hurricanes, meteorologists used up the list of 21 proper names and had to resort to the Greek alphabet for storms Alpha through Epsilon..."
December 29, 2005The Insurance Journal"AIR Worldwide Corporation conducted an analysis of the potential impact on insurers of the Terrorism Risk Insurance Extension Act of 2005. The Act was signed into law last week and extends the Terrorism Risk Insurance Act of 2002 (TRIA) through the end of 2007..."
December 29, 2005 The Insurance Journal"Insurers can continue to use Insurance Services Office's portfolio of terrorism insurance endorsements and related rules without any revisions under the Terrorism Risk Insurance Extension Act of 2005, signed into law by President Bush..."
By Rupal ParekhDecember 22, 2005Business Insurance"NEW YORK—For the bulk of U.S. property/casualty insurers, so-called "core reserves" will no longer be considered a key factor in triggering downgrades, one rating agency says..."
By Matt BradyNational Underwriter P&CDecember 28, 2005"Changes made to the recently extended Terrorism Risk Insurance Act will not require any modifications to ISO’s portfolio of terrorism insurance endorsements and related rules, the company said Tuesday..."
Publication Date: December 28, 2005Advisen -- Management LiabilitySource: Corporate Financing Week"It is three years since Sarbanes-Oxley (SOX) changed the governance landscape. The SEC has adopted the additional regulations and boards and committees have become better accustomed to the new order. But, while there is some clarity from the courts, the ripple effect of SOX continues to spread..."
Publication Date: December 27, 2005Advisen -- CasualtySource: Record, The (Hackensack, NJ) (KRT)"Dec. 25--Allegations of health care fraud at the state-funded medical school and its affiliated hospital are part of a sustained national crackdown on a criminal industry that robs taxpayers of an estimated $100 billion per year..."
Publication Date: December 27, 2005Advisen -- Medical MalpracticeSource: Daily Breeze"A wrongful death lawsuit was filed Friday on behalf of nine families whose relatives died while waiting for liver transplants at an Orange County hospital that last month suspended its transplant program..."
December 28, 2005Advisen -- Medical Malpractice(From The Wall Street Journal)By David Armstrong"WITH CONFLICTS of interest increasingly casting doubt on the credibility of medical research, a leading surgery journal is cracking down on authors who fail to disclose links to industry, threatening to temporarily blacklist them..."
"$500,000 in grants to target ER safety, how patients depart, other care issues"By Christopher Rowland, Boston Globe StaffThe Boston GlobeDecember 27, 2005"The potential for errors being made during long patient stays in emergency rooms is among the medical dangers that will be studied through grants awarded to 10 doctors by the malpractice insurer for Harvard-affiliated hospitals..."
December 27, 2005The Insurance Journal"Ken Livingstone, London's high-profile mayor, told interviewers on BBC Radio 4 that threats from terrorist attacks in the U.K.'s capital persist, but are largely disorganized. He noted that the July 7 "attackers were all homegrown," and, taking issue with Prime Minister Tony Blair, downplayed any international connections..."
December 27, 2005The Insurance Journal"As of Jan. 1, 2006, the Arizona Department of Insurance will have new phone numbers. The main switchboard number is (602) 364-3100. The Producer Licensing Section number is (602) 364-4457. The Property & Casualty Division can be reached at (602) 364-3453. For a complete list of new department phone numbers, visit www.id.state.az.us/publications/new_phone_directory_1-06.pdf..."
December 27, 2005The Insurance Journal"'Certificates of Insurance: The Second Most Dangerous Piece of Paper,' will be discussed by Bill Perkins, an instructor with the Florida Association of Insurance Agents, during a Jan. 9 continuing education class sponsored in Tampa, Fla. by the Florida SunCoast Chapter of Chartered Property and Casualty Underwriters. The event will be held at the Tampa Hilton Westshore, 2225 N. Lois, from 5:30 p.m. to 8:30 p.m..."
December 27, 2005The Insurance Journal"The National Association of Insurance Commissioners recently announced that two key management positions in the Association's Government Affairs office in Washington, D.C. have been filled..."
Publication Date: December 26, 2005Advisen -- Medical MalpracticeSource: The Grand Rapids Press"LANSING -- The Michigan Court of Appeals has overturned a $1.5 million malpractice verdict against a suburban Detroit hospital and the doctor who performed a failed kidney transplant..."
Publication Date: December 21, 2005Advisen -- Insurance MarketSource: InsuranceNewslink.com"Despite record 2005 hurricane losses, the Bermuda reinsurance market remains attractive to capital according to the latest Bermuda Reinsurance Quarterly Report from Benfield's Industry Analysis and Research Team entitled 'Capital Carousel.'..."
Publication Date: December 22, 2005Advisen -- InsurersSource: Lloyds List"CALL it the Santa Clause Lloyd's is ready to ensure that Santa has a happy Christmas..."
Publication Date: December 22, 2005Advisen -- Insurance MarketSource: AP Online"WASHINGTON_President Bush on Thursday signed a two-year extension of a post-9/11 law providing federal insurance backup for catastrophic losses sustained in a terrorist attack..."
By Daniel HaysDecember 22, 2005National Underwriter P&C"Santa Claus Inc., the international toy maker, is a risky business that has serious insurance coverage problems, according to a consulting firm report..."
Publication Date: December 21, 2005Advisen -- InsurersSource: Palm Beach Post, The (FL) (KRT)"Dec. 21--Gov. Jeb Bush said Tuesday he opposes using taxpayer money to bail out Citizens Property Insurance Corp., which expects to run a deficit this year of as much as $992 million..."
Publication Date: December 22, 2005Advisen -- Medical MalpracticeSource: The Legal IntelligencerBy Asher HawkinsOf the Legal Staff"Introducing a cap on pain and suffering damages is not the key to reversing the effects of Pennsylvania's medical malpractice crisis, Gov. Edward G. Rendell stressed yesterday to a group of attorneys in Center City..."
December 20, 2005The Insurance Journal"If you're hosting friends and family this holiday season, it might pay to check your insurance first, according to the Illinois Department of Insurance. Better to know in advance what is covered and what isn't when hosting that Christmas dinner or New Year's party..."
By Matt BradyDecember 19, 2005National Underwriter P&C"Washington —Both opponents and advocates of extending the Terrorism Risk Insurance Act voiced positive sentiments after Congress passed the measure over the weekend..."
December 21, 2005National Underwriter P&C"The hurricanes of 2005 and events in the storm’s aftermath were the top three insurance stories of the year, according to the Property Casualty Insurers Association of America..."
"Record catastrophe losses, probes put major players on the hot seat"December 19, 2005By Sam FriedmanNational Underwriter P&C"One of America’s great philosophers, former Yankee catcher Yogi Berra, commenting on how life’s twists and turns keep repeating themselves, observed: 'It’s déjà vu all over again!' Insurers, producers and risk managers could certainly relate to that bit of homespun wisdom as they review their respective fates in 2005..."
Publication Date: December 19, 2005Advisen -- Medical MalpracticeSource: Record, The (Hackensack, NJ) (KRT)"Dec. 18--Malpractice insurance rates have escalated at unprecedented rates for many New Jersey OB-GYNs in the past four years, with increases looming in the next four..."
Publication Date: December 20, 2005Advisen -- InsurersSource: Deseret Morning News"LOS ANGELES -- California Insurance Commissioner John Garamendi, whose lone opposition held up a gigantic health-care merger last year, on Monday approved the proposed $9.2 billion union of UnitedHealth Group Inc. and PacifiCare Health Systems Inc..."
Publication Date: December 16, 2005Advisen -- RegulationSource: Business Insurance"CHICAGO-The National Assn. of Insurance Commissioners last week elected state insurance regulators to its leadership ranks during its winter quarterly meeting in Chicago..."
Publication Date: December 17, 2005Advisen -- Insurance MarketSource: AP Online"WASHINGTON_Congress agreed to send President Bush a two-year extension of a post-9/11 law providing federal insurance backup for catastrophic losses suffered in a terrorist attack..."
December 5, 2005 PropertyandCasualty.com"Chicago – The draft of a national catastrophic risk insurance program considered at a National Association of Insurance Commissioners (NAIC) hearing here today is the latest in a series of proposals that attempts to fundamentally reform the way the nation finances the economic losses from natural disasters. The proposal considered by regulators adds momentum to a growing debate among state and federal public policymakers, about how best to prepare for, respond to, and recover from catastrophes such as the hurricanes that devastated the Gulf Coast in 2005..."
December 6, 2005 PropertyandCasualty.com"Washington - Property Casualty Insurers Association of America (PCI) President and CEO Ernst Csiszar today praised the leadership of the U.S. House of Representatives for scheduling a vote this week on H.R. 4314 the Terrorism Risk Insurance Revision Act. The legislation, sponsored by House Financial Services Committee Chairman Michael Oxley (R-Ohio) and Subcommittee on Capital Markets Chairman Richard Baker (R-La.) is set for a vote on the House floor on December 7, according to the House schedule..."
December 9, 2005 PropertyandCasualty.com"Chicago - The debate over the application of Sarbanes-Oxley (SOX) provisions to non-public insurers came one step closer to a solution yesterday when the National Association of Insurance Commissioners (NAIC)/ American Institute of Certified Public Accountants (AICPA) Working Group’s Title IV Subgroup adopted a proposed alternative supported by both insurers and regulators at the NAIC Winter Meeting held here this week..."
December 12, 2005 PropertyandCasualty.com"Proposes Regulatory Modernization In New York""Albany, NY - The New York Insurance Association (NYIA) launched an initiative to modernize insurance regulation of property/casualty insurance rates and policy forms in New York State..."
December 12, 2005 PropertyandCasualty.com"Washington - In a speech before the American Legislative Exchange Council’s (ALEC) States & Nation Policy Summit, PCI President and CEO Ernst Csiszar urged state legislators around the country to support regulatory modernization legislation efforts and work to develop ways to more effectively insure against catastrophic risk..."
December 12, 2005 PropertyandCasualty.com"Indianapolis - The National Association of Mutual Insurance Companies (NAMIC) welcomed the decision to do no further work on a model law regulating the use of claims databases for underwriting purposes, reached by the by the Market Regulation & Consumer Affairs (D) Committee at the NAIC winter meeting Tuesday in Chicago..."
National Underwriter P&CDecember 15, 2005"Moody's Investors Service announced that it has changed the outlook for the North American property-casualty commercial lines insurance sector to stable from negative..."
By Arthur D. PostalNational Underwriter P&CDecember 14, 2005"Washington —With the clock winding down on expiration of the Terrorism Risk Insurance Act, the House of Representatives late yesterday proposed accepting the bulk of a narrower Senate extension bill, a move that will please the White House and likely result in passage of compromise legislation this week, the National Underwriter has learned..."
December 15, 2005The Insurance Journal"California Governor Arnold Schwarzenegger has chosen an insurance industry lobbyist to be his deputy chief of staff and senior advisor for policy development, a new position.Starting at the new year, Dan Dunmoyer will leave his post as president of the Personal Insurance Federation of California..."
December 15, 2005The Insurance Journal"In a letter to House Speaker Dennis Hastert (R-Ill.), Property Casualty Insurers Association of America (PCI) President and CEO Ernie Csiszar urged congressional support for a proposal by Mississippi Gov. Haley Barbour to provide federal grants to homeowners whose homes were destroyed by floods resulting from Hurricane Katrina but who were uninsured for such losses..."
December 15, 2005Advisen -- Medical MalpracticeSource: Associated Press Alert"MONTPELIER, Vt._The Vermont Medical Society and a group of consumer advocates squared off Thursday with dueling news conferences that were a harbinger of a coming debate in the Legislature over medical malpractice reform..."
December 15, 2005Advisen -- Medical MalpracticeSource: Associated Press Alert"SALEM, Ore._Legislative panel leaders have told their staff to draft a bill clarifying that malpractice claims against all Oregon doctors must be reported to the state..."
Publication Date: 12/15/2005Advisen -- Medical MalpracticeSource: Miami Herald, The (KRT)"Dec. 15--TALLAHASSEE -- Handing another blow to the state's doctors, the Florida Supreme Court on Wednesday cleared the way for attorneys to sidestep a voter-approved cap on attorneys' fees in medical malpractice cases..."
Dec. 13, 2005Business Insurance"WASHINGTON (Reuters)—Senate Majority Leader Bill Frist, R-Tenn., said Tuesday the chamber would work out its differences with the House of Representatives so Congress could pass a bill this year extending the federal backstop for terrorism insurance..."
December 14, 2005The Insurance Journal"Congress has only a few days left to decide the future of one of the legacies of the Sept. 11 attacks, federal backup for terrorism insurance sought by the nation's builders and investors..."
December 14, 2005The Insurance Journal"ProAssurance Corporation and Physicians Insurance Company of Wisconsin, Inc. have agreed to merge PIC Wisconsin into ProAssurance through a proposed stock-for-stock transaction..."
From Staff and Wire reportsThe Parkersburg News and The Parkersburg Sentinel OnlineDecember 13, 2005"CHARLESTON - Medical malpractice insurance companies have started turning a profit in West Virginia since the Legislature passed several rounds of limits on malpractice lawsuits, state Insurance Commissioner Jane Cline told lawmakers Sunday..."
Publication Date: December 12, 2005Source: Advisen -- Insurance Market"AVRECO Announces Nursing Home Market""AVRECO has announced a new market for nursing homes that is available on both Claims Made and Occurrence Policy forms with an A+ rated carrier. The program is currently offered to insureds in the following states: MA, NJ, OH, CO, MD, VA, WA, OR, NE, IN, VT, ME, ID, MT, WY, WI, and NY (excluding boroughs), and targets facilities with one to three locations, with each location quoted separately..."
By Robin J. MoodyPortland Business JournalDecember 9, 2005"State regulators have cleared the way for the sale of Northwest Physicians Mutual, the state's largest medical malpractice insurer, to become a subsidiary of Napa, Calif.-based The Doctor's Company..."
December 8, 2005The Insurance Journal"Reducing medical malpractice lawsuits, reducing soaring health care costs and helping small businesses cope with the increased cost of employee insurance are targets on Kentucky Gov. Ernie Fletcher's 2006 legislative agenda. Fletcher told The Associated Press his legislative agenda includes pushing for a constitutional amendment on medical malpractice lawsuits..."
Source: Crain's Chicago BusinessIf you're in the Chicagoland area this weekend, here are some fun and unique things to do in spite of the cold!-Karen
Author: AVRECO News
Source: ProgramBusiness
"AVRECO is happy to announce a new market for nursing homes that is available on both Claims Made & Occurrence Policy forms with an A+ rated carrier..."
Author: AVRECO News
Source: ProgramBusiness
"At the annual luncheon meeting of the Association of Lloyd’s Brokers on November 8, 2005, Storefront Owner AVRECO’s Vice President and Underwriting Manager Linda Deiss was voted by the Board of Directors to be Chairperson of the Association of Lloyd’s Brokers. The position is for one year, with appointment to the board for three years. Pictures from the annual meeting can be seen on the Association of Lloyd’s Brokers website: http://www.aaolb.org.Congratulations, Linda!!"
Author: AVRECO News
Source: ProgramBusiness"Catalyzed by the hiring of Marcia Gloppe, a broker and underwriter with over thirteen years of experience in Public Entity Underwriting and Risk Management, Storefront Owner AVRECO has decided to expand its business into the Public Entity arena..."
December 6, 2005Advisen -- People on the Move"Jeff Simonds has joined AVRECO as an Assistant Vice President of the Healthcare department in October. He will focus on the medical professional liability marketplace. Jeff has 20 years of experience in the insurance industry, and he spent the last seven in the medical malpractice field. Prior to joining AVRECO, he worked as a Medical Malpractice Risk Consultant for Behnke & Company in Decatur, IL. He was the Chicago Brokerage Manager for the individual products division at The Principal Financial Group. Reach Jeff at 312.529.5520 or jsimonds@avreco.com..."
Publication Date: December 3, 2005Advisen -- CasualtySource: Investment Dealers' Digest"The Katrina-related troubles are hardly bringing the insurance-linked note market to a grinding halt. Goldman Sachs is sounding out investors regarding a bond linked to terrorism risk, which would be the first of its kind. Details are very sketchy, and Goldman declined to comment, but the thinking is that any deal should surface before the end of the year as most insurance policies renew on Jan. 1. There is plenty of demand for coverage, but the question is the depth of the investor base for such securities..."
December 2, 2005Advisen -- CasualtySource: Business Insurance"Companies seeking media liability insurance for their corporate blogs will find several insurers willing to provide the coverage, but, so far, there has been little demand..."
December 2, 2005Advisen -- CasualtySource: Business Insurance"SPRINGFIELD, Ill.-Tort reform advocates have hailed a recent Illinois Supreme Court decision ordering the dismissal of a proposed class action because it had little connection to the jurisdiction in which it was filed..."
By Robert Redding Jr.THE WASHINGTON TIMESDecember 2, 2005"D.C. doctors yesterday rallied in support of legislation that would limit malpractice lawsuits and awards, which they say are driving up their insurance costs..."
December 1, 2005NBC4 -- Washington, D.C."WASHINGTON -- Dozens of doctors demonstrated in the District Thursday in order to pressure the city into passing legislation to limit what patients can collect in malpractice suits..."
