Publication Date: June 29, 2006Advisen -- Insurance MarketSource: Hartford Courant"The net profits of U.S. property-casualty insurers rose 11.4 percent in the first quarter, to $16.7 billion, excluding certain unusual items, as severe weather claims fell, industry groups reported Wednesday..."
June 28, 2006The Insurance Journal"The U.S. property/casualty industry's net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio -- a key measure of losses and other expenses per dollar of premium -- improved to 91.2 percent from 92.2 percent..."
June 29, 2006The Insurance Journal"It's nice to learn that Lloyd's hasn't turned its back on covering the perils that may strike the world's movie, sports and assorted other celebrities. On the contrary, a recent article on its Website (www.lloyds.com) indicates that due to the increased use of big names to promote various and sundry products and services 'celebrity endorsement is fast becoming the marketing tool of choice.'..."
Publication Date: June 27, 2006Advisen -- Medical MalpracticeSource: The News-Tribune (Tacoma)"Few would argue against a new state law that says prescriptions no longer can be written in cursive and instead must be hand-printed, typed or printed by a computer..."
Publication Date: June 28, 2006Advisen -- RegulationSource: Business Insurance"WASHINGTON-A bill designed to ease the regulatory burden that states impose on surplus lines insurers would make risk managers' jobs easier as well, according to a prominent risk manager..."
Publication Date: June 28, 2006Advisen -- Insurance MarketSource: Bestwire Service"WASHINGTON (BestWire) - The need for a continuing federal reinsurance backstop to cover terrorism-related risks "isn't as obvious" as it was a year ago, President Bush's nominee to be secretary of the U.S. Treasury said during confirmation hearings before the Senate Finance Committee..."
Publication Date: June 27, 2006Advisen -- Medical MalpracticeSource: Pennsylvania Law Weekly"Doctors' groups say data is misleading, renew their call for caps or damage awards..."
Publication Date: June 27, 2006Advisen -- Medical MalpracticeSource: BestWire Services"With proposals to institute damage caps in medical-malpractice cases making little headway in the U.S. Senate, some on Capitol Hill are looking to revive interest in alternative approaches to addressing the cost and uncertainty of the $28 billion medical-liability system..."
Publication Date: June 26, 2006Advisen -- PropertySource: BestWire Services"A group of seven Republican U.S. House members is calling on a presidential panel to include analysis of reinsurance capacity, risk models, and state rate-filing laws in its forthcoming report on the U.S. market for terrorism insurance..."
June 26, 2006The Insurance Journal"The National Association of Mutual Insurance Companies (NAMIC) has adopted a statement on natural disasters that asserts a flexible regulatory environment in which insurers are free to price coverage based on risk will create incentives for property owners in high-risk areas to invest in loss mitigation measures. NAMIC contends that only risk-based pricing will foster greater competition among insurers and increase the availability of property insurance in disaster-prone areas..."
By Mark A. HofmannJune 22, 2006Business Insurance"WASHINGTON—A bill designed to ease the regulatory burden that states place on surplus lines insurers would make risk managers’ jobs easier, a prominent risk manager told a congressional panel Wednesday..."
By Mark A. HofmannJune 22, 2006Business Insurance"WASHINGTON—The co-sponsor of a bill that would allow insurers to choose to be chartered by the federal government rather than by state governments Thursday said he opposes any effort to limit federal charters to life insurers..."
June 22, 2006The Insurance Journal"Illinois' freshman regulator Michael McRaith may be the new kid on the block, but he isn't shy about sharing his views on national and regional specific issues. In a recent interview with Insurance Journal's Susan McKenna, he described the fallout from last year's major catastrophes and the impact on the Midwest..."
By Amy FriedmanJune 20, 2006The Insurance Journal"Although property casualty insurance capacity still exists in some areas in the U.S.'s east coast, the rate at which it is vanishing, especially in coastal areas, as well as the steep prices being offered for available capacity, have industry executives concerned about pricing discipline..."
Publication Date: Jube 19, 2006Advisen -- RegulationSource: Comtex Business"WASHINGTON, Jun 19, 2006 (U.S. Newswire via COMTEX) --The Council of Insurance Agents & Brokers today commended Reps. Ginny Brown- Waite (R-Fla.) and Dennis Moore (D-Kan.), for introducing legislation to eliminate the disparity in regulation of surplus lines insurance on a state-by-state basis..."
Publication Date: June 13, 2006Advisen -- InsurersSource: The Daily Telegraph"LLOYD's of London insurers is bracing itself for the onset of the hurricane season, which last year saw an unprecedented level of natural disasters. Tropical Storm Alberto, which is sweeping towards Florida, yesterday became the first named cyclone of this year's season, and insurers will be watching its path closely..."
Publication Date: June 13, 2006Advisen -- PropertySource: New York Times Full Feed"A hurricane warning was issued on Monday and evacuations were ordered for parts of the Florida Gulf Coast as the season's first tropical storm intensified on a path that could bring it ashore as a hurricane..."
Publication Date: June 9, 2006Source: Advisen -- Healthcare"Key Points: Bariatric (stomach reduction) surgery is becoming more common as the obesity problem intensifies and hospitals start viewing it as an attractive source of income in lean financial times. While underwriters remain cautious about hospitals where bariatric surgery is performed, risk managers and their brokers are generally able to obtain coverage at reasonable rates, as long as proper accreditation and loss control procedures are maintained. Patient selection and counseling, surgeon credentialing, and facility modifications are key to avoiding or minimizing bariatric malpractice claims..."
June 8, 2006The Insurance Journal"The financier slated to be the country's next Secretary of Treasury differs with his predecessor and the Bush Administration over the need for federal government involvement in providing terrorism reinsurance..."
June 9, 2006The Insurance Journal"In a speech to the House of Lords, given as part of a discussion on "London as a World Financial Center," Lord Peter Levene stressed the financial health and leading position of both London and the Lloyd's market. He took the opportunity to remind his fellow peers of the importance London's financial community plays in the U.K.'s economy and the need for support from the government..."
