Publication Date: July 26, 2006Advisen -- PropertySource: Bestwire Service"WASHINGTON (BestWire) - Insurers might be able to better predict terrorism risk if they had access to certain secret or sensitive counter-terrorism intelligence, but the risk is still essentially uninsurable, risk management experts told a congressional panel..."
July 20, 2006The Insurance Journal"The National Association of Professional Surplus Lines Offices offered their full support and applauded the passage of the Non-Admitted and Reinsurance Reform Act of 2006 (H.R. 5637), by the House Financial Services Committee, Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises..."
Publication Date: July 14, 2006Source: Advisen -- Management Liability"Advisen's Commercial Lines Expert Witness (CLEW) Report on D&O""Directors & Officers Liability, already one of the most complex coverages in the property & casualty insurance market, is undergoing profound changes in response to legal and regulatory pressures as well as insurance market dynamics. Officers and directors feel increasingly at risk, and worry whether their D&O coverage is adequate for their exposures. D&O underwriters struggle to bring order to a world where the rules of the game are never quite settled, and where the economic forces operating on the insurance industry often are at odds with sound underwriting judgment..."
July 20, 2006The Insurance Journal
"Federal legislation to reform the way surplus lines insurance is regulated was approved by a House subcommittee today..."
Publication Date: July 19, 2006Advisen -- InsurersSource: Bestwire Service"WASHINGTON (BestWire) - Risk retention groups are asking Congress to expand the Liability Risk Retention Act to include property insurance, arguing that the current capacity crunch in the commercial property sector is analogous to the liability crisis that spawned the 20-year-old law..."
Publication Date: July 18, 2006Source: Advisen -- People on the Move"Michael Jenkins, Managing Director of Park Bermuda Limited for over seven years, has been promoted to Deputy Chairman of Park Bermuda Limited. Reach Michael at 441.294.7959 or mjenkins@park.bm.""Joe LaRocco, Global Casualty Practice Leader of The Park Group, has been promoted to President, Park Americas New York (fka AVRECO New York). Joe joined Park Bermuda Limited in September 2005 to head up the Casualty division. He was formerly with Marsh, where he most recently was Managing Director of the Casualty Division in Bermuda. Joe will continue as Global Casualty Practice Leader while also working to drive business recruitment and growth initiatives. Contact Joe at 441.294.7979 or jlarocco@park.bm.""Mark Simons, Global Professional Lines Practice Leader of The Park Group, has been promoted to Managing Director, Park Bermuda Limited. He joined Park in March 2004 from Starr Excess, where was Financial Lines Manager of Bermuda operations. Reach Mark at 441.294.7953 or msimons@park.bm."
By Rupal ParekhJuly 14, 2006Business Insurance"HAMILTON, Bermuda—Bermuda-based wholesale insurance and reinsurance brokerage The Park Group Ltd. has made a series of management changes..."
July 13, 2006The Insurance Journal"The Park Group recently announced internal appointments and changes to its management structure. According to the Group's written statement, 'these changes bring our best talent to the forefront of our operations and solidify our position as a leading independent wholesale insurance and reinsurance broker.'..."
Publication Date: July 11, 2006Advisen -- RegulationSource: Comtex Business"WASHINGTON, Jul 11, 2006 (U.S. Newswire via COMTEX) --The Council of Insurance Agents & Brokers today praised Congress for addressing important market reform issues for the insurance industry and said there is still time this session to enact some easy, achievable changes that could have a major impact on the marketplace..."
Publication Date: July 10, 2006Advisen -- Medical MalpracticeSource: Associated Press Alert"JEFFERSON CITY, Mo._Governor Blunt is signing legislation giving the Insurance Department more information and control over medical malpractice insurance rates..."
Publication Date: July 8, 2006Advisen -- Medical MalpracticeSource: Milwaukee Journal Sentinel"Wisconsins Supreme Court on Friday reversed its own 2004 ruling that the states wrongful-death lawsuit verdict cap currently $350,000 limits non-economic damages in any medical-malpractice lawsuit over a patients death..."
