October 26, 2009

10/27 Insurance Journal

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ING to Split Banking and Insurance Operations under EU Pressure
October 26, 2009 at 1:00 pm

Dutch bancassurer ING will split in two, transforming itself into a smaller European lender in the most striking example yet of the deep changes that EU policymakers want to force on banks that ...

Guy Carp Survey Concludes MGA's, Program Admins. See More M&A
October 26, 2009 at 12:37 pm

Program administrators and managing general agents (PAs & MGAs) remain interested in growth through acquisition in order to accelerate top-line growth and capture market share, according to ...

Socius Adds Illinois Vice President
October 26, 2009 at 12:34 pm

Socius Insurance Services, Inc., a San Francisco-based management liability and property & casualty insurance wholesaler, today announced the appointment of Matt Baird as Assistant Vice President ...

Colorado's IMA Financial Hires Executive
October 26, 2009 at 12:31 pm

The IMA Financial Group, Inc., a diversified financial services company specializing in insurance, asset and risk management with 450 employees and offices in seven markets across the nation, ...

Woman Robbed of $27K Insurance Payment
October 26, 2009 at 12:08 pm

Massachusetts police say they are searching for two men suspected of robbing a woman of $27,000 after she flashed the cash in a Springfield bar. Sgt. John Delaney said on Friday that the ...

Attack on Health Firms Is Assault on All Private Insurance, Warns P/C Chief
October 26, 2009 at 12:05 pm

Attacks by President Obama and Congressional Democrats against private health insurers will have a "spillover effect" on other segments of the private insurance marketplace, a property/casualty ...

Oregon Charges Agent Who Dumped Records
October 26, 2009 at 12:01 pm

The Oregon Department of Consumer and Business Services has issued a cease-and-desist order against insurance agent Robert Warren Spruill for violating the Oregon Consumer Identity Theft ...

Minor Quake Recorded in Upstate New York
October 26, 2009 at 11:58 am

The U.S. Geological Survey has confirmed that a minor earthquake rattled sections of the Albany, New York area last week. The USGS says the 2.9 magnitude quake occurred at 9:32 p.m. last ...

California Has Rise in Auto Insurance Fraud
October 26, 2009 at 11:54 am

In the year 2008, there was a 25 percent increase in suspected vehicle arson fraud in California, according to the state commissioner. Department of Insurance Commissioner Steve Poizner said ...

California SCIF Bonuses Withdrawn
October 26, 2009 at 11:44 am

The California State Compensation Insurance Fund's chief executive has dropped plans for $250 bonuses to 7,900 employees after another agency threatened to sue. Jan Frank is stepping down ...

William Gallagher Acquires RPG Insurance Administrators
October 26, 2009 at 11:35 am

Boston-based insurance brokerage William Gallagher Associates has acquired RPG Insurance Administrators Inc. (RPG) of Medfield, Massachusetts for an undisclosed sum. RPG specializes in risk ...

Historic Mall Fire Called Accidental
October 26, 2009 at 11:31 am

Federal investigators say a fire that gutted a historic building in Estes Park was an accident, ignited by a natural gas water heater. Agents with the U.S. Department of Justice's Alcohol, ...

Arson Case Prompts Heart-Attack Murder Charges
October 26, 2009 at 11:24 am

Prosecutors in California are charging a suspected arsonist with the murder of five people who died of heart attacks during a wildfire _ a potential capital offense in a region held hostage by ...

U.S. Healthcare System Wastes Up to $700-$800 Billion a Year: Reuters
October 26, 2009 at 11:15 am

The U.S. healthcare system is just as wasteful as President Barack Obama says it is, and proposed reforms could be paid for by fixing some of the most obvious inefficiencies, preventing mistakes ...

Court: Texas Company Unfair to Black Workers
October 26, 2009 at 11:03 am

State historical markers outside the headquarters of Lufkin Industries Inc. in Lufkin, Texas, tell how the company started repairing sawmill equipment at the turn of the 20th century and grew to ...

South Dakota Group Seeks to Strengthen Traffic Safety Laws
October 26, 2009 at 10:43 am

More than a dozen organizations and state Sen. Ben Nesselhuf of Vermillion have formed Safe and Sound South Dakota, a coalition they say is designed to promote traffic safety legislation. In a ...

Georgia Man with Flood Damaged Home Wins Lottery
October 26, 2009 at 8:30 am

A Mableton man whose home was heavily damaged by floods last month has won $250,000 playing the Georgia lottery. Michael Sussman said he plans to buy a new home for his family with his ...

U.S. Warned to Prepare Now for Disasters Caused by Globlal Warming
October 26, 2009 at 8:25 am

As Congress considers curbs on carbon dioxide pollution, a U.S. report has urged the White House to prepare now for flooding and other natural disasters brought by global warming. Federal ...

Southeast States Among Most Exposed to Climae Change Impact: Report
October 26, 2009 at 8:19 am

Poverty and climate hazards make the southeast United States the country's most vulnerable area to climate change impact, Oxfam America said. A report released by the relief organization ...

AIG Approved to Pay $12 Million Delayed Executive Retention Awards
October 26, 2009 at 8:12 am

AIG, the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the ...

Lloyd's Notes Success of Regional Catastrophe Pools, CCRIF
October 26, 2009 at 7:39 am

An article on the Lloyd's of London web site (www.lloyds.com) discusses the success of an "innovative solution" which can make funding available to governments in the aftermath of a natural ...
 

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