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| Aon's Q3 Net up Slightly at $120 Million; Other Results Mixed
October 30, 2009 at 1:49 pm
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| | Aon Corp. reported results for the third quarter ended September 30, 2009, which show net income attributable to Aon stockholders was up slightly at $120 million or $0.41 per share, compared to ... |
| Donegal Mutual, Southern Mutual Finalize Pooling, Marketing Affiliation
October 30, 2009 at 1:25 pm
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| | Pennsylvania-based Donegal Mutual Insurance Co. and Georgia-based Southern Mutual Insurance Co. have finalize an affiliation they announced in early September. The deal brings Southern Mutual ... |
| New Business Owners Product in California
October 30, 2009 at 12:53 pm
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| | Trinity E&S Services, Inc., with offices in Bermuda Dunes and Petaluma, Calif., is announcing the introduction of an E&S Business Owners Policy for retail agents in California that do not ... |
| California to Update Workers Compensation Regulations
October 30, 2009 at 12:37 pm
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| | California's Department of Industrial Relations has proposed an update to regulations for the Workers' Compensation Information System. The update is part of the Division of Workers' ... |
| Florida Approves 5.4% Citizens Homeowners Rate Hike
October 30, 2009 at 12:30 pm
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| | Florida's state-backed and largest property insurer will be allowed to raise its rates for homeowners an average 5.4 percent in 2010. The increase is the first one allowed since lawmakers froze ... |
| National Flood Insurance Program Extended Until Dec. 18
October 30, 2009 at 12:18 pm
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| | Congress has again temporarily extended the federal flood insurance program, this time until Dec. 18, 2009. The latest extension was approved by the House and Senate as part of an ... |
| CNA Appoints Rutkowski Senior Vice President, Commercial
October 30, 2009 at 11:58 am
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| | CNA Financial Corp. has named David Rutkowski as senior vice president of Commercial Segments. Rutkowski will be responsible for CNA's Middle Market customer segments including Construction, ... |
| Research Can't Yet Explain Link of Chinese Drywall to Home, Health Woes
October 30, 2009 at 11:52 am
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| | Federal investigators have been unable to prove a definite link between imported Chinese drywall and home damage and health issues. But they aren't done investigating. The Consumer Product ... |
| Pa. Court: Earlier Asbestos Settlement Has No Impact on New Suit
October 30, 2009 at 11:47 am
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| | The estates of two men who died of asbestos-related lung cancer years after receiving a settlement for increased risks and fear of the disease can again sue another manufacturer of the material ... |
| Montana Insurance Commissioner Announces Fraud Settlement
October 30, 2009 at 11:18 am
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| | LPL Financial Corporation (LPL) will pay nearly $1.3 million in restitution to Montana investors and a fine of $150,000 to the State of Montana under a settlement announced today by Monica ... |
| Watch Out for Boo! Texas Pedestrian Accidents Jump 23% at Halloween
October 30, 2009 at 11:08 am
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| | On average, the number of Texans hit by cars spikes 23.3 percent during Halloween week, according to Allstate Insurance Company. The insurer recently looked at its Texas auto insurance claims ... |
| Michigan Senate Rejects Ban on Location in Setting Auto Premiums
October 30, 2009 at 11:03 am
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| | The Republican-led Michigan Senate has killed legislation that would have banned auto insurers from considering where a driver lives when setting rates. Democrats say the practice is unfair to ... |
| Investigation: Ohio Work Comp Fund Lost $20M in Pharmacy Program
October 30, 2009 at 11:01 am
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| | The state watchdog says the Ohio insurance fund for injured workers is out $20 million because of problems with its prescription drug program. Inspector General Tom Charles says the Bureau of ... |
| California Pizzeria Owner Pleads to Insurance Fraud
October 30, 2009 at 11:01 am
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| | Two Southern California men who were arrested on Oct. 15 for workers' compensation insurance fraud in Orange County. The state Insurance Commissioner, Steve Poizner, said that Sanjiv Mahendra ... |
| Patriot Underwriters to Market SPARTA Workers' Compensation in 5 States
October 30, 2009 at 10:48 am
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| | Fort Lauderdale, Fla.-based Patriot Underwriters, Inc. said it has signed an agreement with Advantage Specialty, Inc. to produce workers' compensation insurance for SPARTA Insurance Holdings, ... |
| Homeowners Choice to Pick Up American Keystone Business in Florida
October 30, 2009 at 10:36 am
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| | Homeowners Choice, Inc. reports it has been selected as the replacement home insurer for policyholders of American Keystone Insurance Co., which was placed into receivership earlier this ... |
| Oregon's Gales Names New Partner
October 30, 2009 at 10:33 am
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| | Gales Creek Insurance Services is pleased to announce that their Commercial Lines Manager, Kim Hutchinson, has become a partner in the agency. Kim has been with Gales Creek since 1999, handling ... |
| California Car Crash Ring Broken Up
October 30, 2009 at 10:30 am
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| | California's Insurance Commissioner Steve Poizner announced that a year-long investigation by California Department of Insurance detectives has resulted in eight arrests and the dismantling of a ... |
| New York Signs Regulatory Agreement with El Salvador
October 30, 2009 at 10:17 am
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| | The New York Insurance Department has signed a cooperation agreement with its counterpart in El Salvador, the latest in a string of similar agreements with insurance regulators in foreign ... |
| State Investigating Another Botched Surgery at Rhode Island Hospital
October 30, 2009 at 9:59 am
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| | Health officials are investigating how a surgeon at Rhode Island Hospital mistakenly operated on the wrong part of a patient's hand, the hospital's fifth wrong-site surgery since 2007. Hospital ... |
| Fairfax Q3 Profits up 20%
October 30, 2009 at 7:56 am
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| | Toronto-based Fairfax Financial Holdings Ltd; said its quarterly profit jumped 20 percent, due primarily to improved underwriting profit. Fairfax said its profit was $562.4 million in the third ... |
| Endurance Reports $153.8 Million Q3 Net Income; Conference Call Today
October 30, 2009 at 7:54 am
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| | Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $153.8 million and $2.51 per diluted common share for the third quarter of 2009, compared to a net loss of $99.4 million and ... |
| Curtis Named Marsh UK COO
October 30, 2009 at 7:46 am
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| | Marsh has appointed Simon Curtis as Chief Operating Officer (COO) of Marsh UK. He is based in London, and will report to Martin South, CEO Marsh UK. Curtis succeeds Ian Clarke, who has ... |
| Best Affirms Lloyd's Syndicate 33 'A' Ratings (Hiscox)
October 30, 2009 at 7:42 am
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| | A.M. Best Co. has affirmed the Best's Syndicate Rating of 'A' (Excellent) and issuer credit rating (ICR) of "a+" of Lloyd's Syndicate 33, which is managed by Hiscox Syndicates Ltd (HSL). Best also ... |
| Guernsey Welcomes 'Foot Review'
October 30, 2009 at 7:33 am
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| | Guernsey's government joined Bermuda's in welcoming the final report of the 'Foot Review' [see IJ web site - http://www.insurancejournal.com/news/international/2009/10/30/104932.htm]. Guernsey's ... |
| Best Affirms Hiscox Operating Companies 'A' Ratings; Outlook Stable
October 30, 2009 at 7:27 am
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| | A.M. Best Co. has affirmed the financial strength ratings (FSRs) of 'A' (Excellent) and issuer credit ratings (ICRs) of "a" of Hiscox Insurance Company (Bermuda) Limited, the UK-based Hiscox ... |
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| House Speaker Pelosi's Health Reform Bill Sets The Gold Standard For Health Reform This Year
October 30, 2009 at 10:00 am
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| | House Speaker Nancy Pelosi today unveiled her health reform bill that will be debated on the floor of the House of Representatives next month. The following is the statement of Ron Pollack, Executive Director of Families USA, about this development: "The House health insurance reform bill sets the gold standard for legislation that deserves to be adopted this year. "The bill will provide America's families with peace of mind. |
| In Senate, Centrist-Liberal Rift Broader Than Just Public Option
October 30, 2009 at 7:00 am
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| | Though the question of whether Democratic leaders would include a public option in the Senate's health reform bill has held the spotlight, a variety of other big issues also remain unresolved, The Hill reports. For instance, "Sen. Charles Schumer (N.Y. |
| Senators Who Support The Public Option Hope Resistant Moderates Will 'Come Around'
October 30, 2009 at 7:00 am
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| | "Democratic Senators in favor of including a public insurance option in health care reform expect resistant moderates … to come around once they see the details of the final legislation," Roll Call reports. Centrists such as Sen. Joe Lieberman, I-Conn., have suggested that they may not support reform with a public option. "Senate Democratic Conference Vice Chairman Charles Schumer (N.Y. |
| Health Bills Present Formidable Challenges To Number Crunchers
October 30, 2009 at 7:00 am
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| | The House Democratic leadership is expected to unveil its health-overhaul legislation Thursday, the Associated Press reports. The next step will be for the merged bill - consolidated from three separate committee reports - to go to the Congressional Budget Office for a cost estimate, before lawmakers vote. |
| Health Bills Limit Out-Of-Pocket Costs, But There's A Catch In The Fine Print
October 30, 2009 at 7:00 am
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| | Health care bills pending in Congress could limit the out-of-pocket costs for consumers, but some of the fine print may cause sticker shock. "Consumers would be spared having to pay huge medical bills under Democratic health care legislation that's moving through Congress, as lawmakers agree on the need to put limits on how much people would pay out of their own pockets," McClatchy reports. |
| Current, Former Mass. Governors Agree: Feds Should Do More Than Their States' Model To Address Costs
October 30, 2009 at 7:00 am
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| | Massachusetts Gov. Deval Patrick, a Democrat, and former Gov. Mitt Romney, a Republican, both say that federal health reform plans should do more to address rising costs than their state's initiative. "Unlike the Massachusetts plan, which focused first on getting residents to sign up for insurance and only now is turning to cost containment, federal legislation must include measures to trim medical costs if it wants to garner and keep public support, Patrick said," |
| China's Health Care System Is Also In Disarray
October 30, 2009 at 7:00 am
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| | The Washington Post reports: "China's health-care system is in disarray, a side effect of the market reforms that have spurred private enterprise and rapid growth since 1980. Before then, state-owned companies offered cradle-to-grave care, part of a system based on danwei, or work units, that provided health, education, pensions and other benefits. |
| Today's Opinions And Editorials
October 30, 2009 at 7:00 am
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| | A Practical Reform: Indian Country As The 51st State Kaiser Health News The federal government could treat Indian Country, at least for health programs, as the 51st state. This seems to me a practical application of the nation-to-nation relationship (Mark Trahant, 10/29). |
| Fine Print: Finance Bill May Cause Consumer Sticker Shock
October 30, 2009 at 6:00 am
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| | Kaiser Health News staff writer Julie Appleby reports on how the fine print of the Senate Finance Committee's health bill could impact some lower- and middle-class consumers. Proponents of the measure "say the legislation will limit the amount that lower- and middle-income people must pay for health insurance to a maximum of 12 percent of their incomes. |
| Pelosi Chooses Compromise Approach To Public Option In Reform Bill
October 30, 2009 at 6:00 am
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| | A health care reform bill set to be unveiled this morning will include a government-run public option for health insurance that will negotiate rates with insurers, much like private insurers operate. |
| A Look At The Public Insurance Options - What Exists And Who Would Have Access Under Proposed Reforms
October 30, 2009 at 6:00 am
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| | One news outlet studies the practical meaning of public insurance option by examining some of the approaches that are already in existence. Meanwhile, another examines the number of people who would have access to the public plan. And a former insurance executive takes issue with the industry's current stance. |
| Shocked By Re-Emergence Of Public Option, Business Groups Push Back
October 30, 2009 at 6:00 am
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| | Business leaders who thought they had dodged a bullet when the Senate Finance Committee decided against offering a government-run public option as part of their health bill are pushing back after the plan's re-emergence. The Wall Street Journal reports that several groups, including the Business Roundtable and the U.S. |
| Iowa Medical Home Provides Lessons For Health Care Reform
October 30, 2009 at 6:00 am
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| | The Associated Press looks at what benefits medical homes may bring to health care by looking at one in Iowa: "A thousand miles from the health care debate in Washington, Dr. Don Klitgaard and his colleagues are carrying out their own reform in a small Iowa community. |
| Insurers Brace For Increase In COBRA Claims
October 30, 2009 at 6:00 am
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| | The nation's ailing economy continues to affect insurance companies, which could also face a wave of costly COBRA claims as policyholders rush to get treatment before government subsidies expire. The Associated Press reports: "The government's effort to help workers keep health benefits after they lose a job could wind up costing WellPoint Inc. |
| Appropriations Chairs Weigh Small Omnibus Combining HHS, Other Spending Bills
October 30, 2009 at 5:00 am
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| | The fiscal year 2010 Labor-HHS-Education spending bill (HR 3293) will likely be rolled into a small omnibus package with other remaining appropriations bills to allow quick passage by the end of the calendar year, CQ Today reports. While the House has passed all 12 of its bills, the Senate has passed only seven and has five remaining. |
| Abortion Issues Unresolved As House Prepares To Unveil Health Reform Bill
October 30, 2009 at 4:00 am
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| | House Speaker Nancy Pelosi (D-Calif.) on Thursday was set to unveil a health reform bill that includes the more moderate version of a public option and an expansion of Medicaid eligibility levels to 150% of the federal poverty level, though "sticking points in the legislation involving abortion and immigration remain unresolved," the |
| Study Shows Lack Of Insurance May Have Figured In Nearly 17,000 Childhood Deaths
October 30, 2009 at 3:00 am
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| | Lack of health insurance might have led or contributed to nearly 17,000 deaths among hospitalized children in the United States in the span of less than two decades, according to research led by the Johns Hopkins Children's Center. According to the Hopkins researchers, the study, to be published Oct. | | | 
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| Why is Toyota selling a $400,000 car?
October 30, 2009 at 12:01 am
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| | The Lexus LFA is designed to compete with the hottest hot rods. It's a breathtaking display of ego -- and the last thing Toyota needs to restore its tarnished brand. |
| 7 financial stocks poised to profit
October 30, 2009 at 12:01 am
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| | As banks move away from traditional banking to goose their profits and shore up their capital ratios, a handful of global players are getting into position to fill the void. | | | 
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| Is your tax preparer a crook?
October 30, 2009 at 12:01 am
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| | If a tax pro offers to quadruple your deductions or eliminate your tax bill, be wary. Without stricter licensing rules, you'll have to watch your own back. | | |  |
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| Alaska Agent Re-Elected to Independent Agents Group
October 29, 2009 at 12:48 pm
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| | M.J. Hall and Company of Alaska Inc.'s Suzy Baird has been re-elected as Associate Director of the Alaska Independent Insurance Agents & Brokers Inc.. Baird was also awarded the AAMGA award ... |
| Insurers Association Blasts Washington Flood Proposal
October 29, 2009 at 12:40 pm
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| | The State of Washington's Insurance Commissioner's proposal regarding a state-run, flood insurance program would probably hurt the insurance market and policy holders throughout the state, the ... |
| Texas Mutual Hires Dileo as Head of Claims Operations
October 29, 2009 at 12:23 pm
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| | Texas Mutual Insurance Company has hired Mike Dileo as senior vice president claims. Dileo has 15 years' experience managing claim, underwriting, loss prevention and premium audit operations. ... |
| Programs to Combat Vehicle Theft to Expand in New Orleans
October 29, 2009 at 12:21 pm
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| | Commissioner of Insurance Jim Donelon says Louisiana's program to reduce vehicle theft and insurance fraud will be expanded in Orleans Parish, which includes New Orleans. Donelon made the ... |
| Carroll, Jarratt and Lee Added to PCI's Board of Governors
October 29, 2009 at 12:18 pm
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| | Steven D. Carroll, Robert Jarratt and Michael H. Lee have been elected as the newest members of the Property Casualty Insurers Association of America's (PCI) Board of Governors. Carroll, serves ... |
| Ohio Gov. Would not Want to Refuse Health Insurance Public Option
October 29, 2009 at 12:16 pm
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| | A spokeswoman for Ohio Gov. Ted Strickland said the governor would not want Ohio to opt out of any new government-run health insurance program. A health care proposal offered by U.S. Senate ... |
| California Study Says Workers' Comp Law Accomplished Goal
October 29, 2009 at 12:12 pm
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| | An attempt to reform the permanent disability rating schedule in California has produced a 6 percent reduction in attorney involvement and in the average amount paid on claims at 36 ... |
| Texas May Drop Phone Numbers from Vehicle Accident Reports
October 29, 2009 at 12:07 pm
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| | In a blow to businesses that contact drivers after car wrecks, Texas' law enforcement and transportation agencies have agreed to drop telephone numbers from crash reports. The move is supported by ... |
| Insurer Harleysville Posts 3Q Profit Gains
October 29, 2009 at 12:01 pm
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| | Pennsylvania-based insurer Harleysville Group Inc. saw its third-quarter profits climb to $24.7 million, up 488 percent from $4.2 million in the year-ago period. Revenue at the insurer rose to ... |
| 21st Century Holding Firmly Rejects Homeowners Choice Buyout
October 29, 2009 at 11:32 am
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| | Lauderdale Lakes, Fla.-based 21st Century Holding Co. said its board of directors has unanimously rejected an unsolicited buyout proposal by Florida-only insurer Homeowners Choice, Inc., which ... |
| Jones Joins Consultant InStrategy as Managing Director of Retail Practice
October 29, 2009 at 10:55 am
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| | Charlotte, N.C.-based insurance consultancy InStrategy Group has appointed Robert Jones as managing director to lead the group's retail practice. Jones has 30 years of experience in the ... |
| Georgia Workers' Compensation Insurer Southeastern US Faces Liquidation
October 29, 2009 at 10:05 am
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| | A workers' compensation insurer for 3,000 public entities, hospitals, private companies and associations in Georgia has been declared insolvent and will be liquidated. Fulton County Superior ... |
| Everest Re Q3 Net Income $228.6 Million; Conference Call Today
October 29, 2009 at 9:31 am
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| | The Bermuda-based Everest Re Group, Ltd. reported third quarter 2009 net income of $228.6 million, or $3.75 per diluted common share, compared to a net loss of $233.1 million, or $3.79 per common ... |
| Aspen Q3 Net Income of $144.7 Million; Net ROE 22%; Conf. Call Today
October 29, 2009 at 9:25 am
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| | Aspen Insurance Holdings reported greatly improved third quarter 2009 results, compared to 2008. The Bermuda-based specialty insurer recorded third quarter net income after tax of $144.7 million, ... |
| Obama Administration to Reconsider Trucker Safety Rule on Hours
October 29, 2009 at 8:41 am
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| | The Obama administration has agreed to reconsider a rule that allows long-haul truckers to drive for up to 11 hours straight, bowing to safety advocates who say longer hours could lead to greater ... |
| Jury Awards North Carolina Soldier $750K in Training Shooting
October 29, 2009 at 8:31 am
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| | A former Army sergeant wounded during a military training exercise was awarded at least $750,000 in his lawsuit against the Moore County, North Carolina Sheriff's Office and the former deputy who ... |
| Gulfport, Mississippi to Start Environmental Claims Court
October 29, 2009 at 8:20 am
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| | Gulfport will start an environmental court next week to deal with derelict properties, tree ordinance violations, vandalism, building- and fire-code violations and other issues. Mayor George ... |
| Midwest Wheat Farmers Reap Preventive Planting Insurance Money
October 29, 2009 at 8:06 am
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| | U.S. farmers struggling to seed their wheat crop will likely reap an insurance check rather than sow in less-than-ideal conditions, analysts and agronomists said. Farmers with prevented ... |
| House Healthcare Bill Has Public Option, Individual Mandate, Surtax
October 29, 2009 at 8:04 am
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| | Democrats in the House finished work Wednesday on a healthcare bill that includes a government-run insurance plan, requires individuals to buy health coverage and imposes a surtax on the wealthy ... |
| RenRe Posts $258.6 Million Q3 Net Income; Operating $242.2 Million
October 29, 2009 at 7:54 am
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| | Bermuda-based RenaissanceRe Holdings Ltd., a leading nat cat property reinsurer, joined the comeback kids of 2009 with a robust performance in the third quarter. The Company reported net income ... |
| Best Affirms Lloyd's Syndicate 2010 'A' Ratings (Cathedral Capital)
October 29, 2009 at 7:49 am
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| | A.M. Best Co. has affirmed the Best's Syndicate Rating of 'A' (Excellent) and issuer credit rating (ICR) of "a+" of Lloyd's Syndicate 2010. At the same time Best affirmed the ICR of "bbb+" of ... |
| Increase in IPO's Causing Surge for D&O's Coverage Says Marsh
October 29, 2009 at 7:46 am
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| | According to a bulletin from Marsh's London office the "increase in the number of companies considering an initial public offering (IPO) or general capital raising is behind a surge in interest in ... |
| AXA Sees Better Market Conditions, Despite Decrease in 9-Month Sales
October 29, 2009 at 7:42 am
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| | France's AXA Group, which ranks alongside Allianz as Europe's two biggest insurers, said its business environment was getting better despite reporting a dip in nine-month sales on ... |
| XL Cuts Q3 Net Income Loss to $11.4 Million; $246 Million 9-Month Profit
October 29, 2009 at 7:38 am
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| | XL Capital has profited from the old adage that "less is more," as the Bermuda-based insurer rebounded from a disastrous year in 2008. Although it posted an $11.4 million loss for the third ... |
| Arrests Made in Western Pennsylvania Arson Spree
October 29, 2009 at 7:01 am
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| | Eight people have been arrested for more than a third of the 34 fires police say were intentionally set in the last two years in New Castle in western Pennsylvania. "Hopefully, we can rest a ... |
| Noto Joins Swett & Crawford in New Jersey
October 29, 2009 at 6:19 am
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| | Swett & Crawford has hired Carmela Noto as a broker in the insurance wholesaler's Morristown, New Jersey office. The insurance industry veteran has long-term experience in marketing and ... |
| Tom Brokaw to Address Insurance Industry Charitable Foundation Gala
October 28, 2009 at 9:35 pm
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| | The Insurance Industry Charitable Foundation (IICF) said NBC News Correspondent Tom Brokaw will be its special guest speaker for the 2009 New York Division Gala. The event is being held on ... |
| Key Risk Promotes Marcus
October 28, 2009 at 2:08 pm
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| | Greensboro, North Carolina-based Key Risk, which provides workers compensation insurance throughout the eastern United States, promoted Mike Marcus to the position of vice president and corporate ... | | | 
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