A Historic Moment for Health Care?

Published - 03/21/2010 12:00 AM

By the editors of the New Nork Times (National Insurance News) -- For many, the health care overhaul, which was approved by the House, 219 to 212, and will be signed into law by President Obama, is ... 

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Commercial rates flat in 4Q of 2009

Published - 03/19/2010 12:00 AM

Commercial insurance pricing remained flat during the fourth quarter of 2009 after nearly five years of decreases, according to findings from Towers Watson’s recent commercial lines insurance pricing survey. The latest data suggests that the soft market has stabilized, with companies showing pricing discipline across the commercial insurance market ... 

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Small business disaster prep includes insurance

Published - 03/19/2010 12:00 AM

NEW YORK — Small business owners are getting some reminders this month that the forces of nature can threaten a company's survival. And that they need to be sure their businesses are well protected against a variety of disasters. A storm in the Northeast caused flood and wind damage and left ... 

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Public Schools Concerned About "No Child Left Behind" Performance Judgements

Published - 03/15/2010 12:00 AM

Hawaii's public schools continue to struggle, especially when it comes to meeting federal standards under "No Child Left Behind." But a plan by President Barack Obama is calling to radically change that law. Currently over 180 schools in the state are failing to meet their yearly benchmarks. Rather than be punished, Mr. Obama ... 

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Insurers bear responsibility for market swings: Exec

Published - 03/08/2010 11:00 PM

WASHINGTON—Insurers have themselves to blame for market swings, an insurer CEO told an agents’ meeting Friday in Washington. Insurers “have to be honest” and admit that, said Michael LaRocco, president and CEO of Allianz of America’s Novato, Calif.-based Fireman’s Fund Insurance Co. “It’s bad behavior,” he said, adding that insurers should ... 

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Greenberg testifies on sham deal with Gen Re

Published - 03/16/2010 12:00 AM

NEW YORK—Former American International Group Inc. Chairman and CEO Maurice R. Greenberg testified last week about a sham 2001 reinsurance deal between AIG and General Re Corp., moving a 2005 civil fraud lawsuit against him closer to trial, legal experts say. The suit, brought by then-New York Attorney General ... 

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M&A Likely To Be Limited To Big Companies Buying Small

Published - 03/02/2010 11:00 PM

Although making acquisitions is a prudent strategy for forward-thinking surplus lines insurance executives seeking to build their organizations, potential sellers are unlikely to agree to lower the deal prices offered, experts recently warned. The interplay between thoughtful buyers looking to diversify existing platforms in a tough market and stubborn sellers could ... 

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Earthquake in Chile could cost insurers at least US2.5bn-2.6bn

Published - 03/01/2010 11:00 PM

Chilean insurance association AACH is estimating insurers will have to pay at least US$2.5bn-2.6bn to cover damage stemming from a massive 8.8-magnitude earthquake that hit central and southern Chile on Saturday, insurance association AACH chairman Mikel Uriarte told press on Monday. The estimate is based on claims paid in ... 

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A.I.G. Unit Said to Be Near Sale to a British Company

Published - 02/28/2010 11:00 PM

Prudential P.L.C., the British financial services company, was nearing a deal on Sunday to acquire the American International Group’s big life insurance business in Asia for about $35.5 billion in a move that would help repay taxpayer ... 

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Copenhagen Climate Accord Failure Leaves Insurers Guessing On Risks

Published - 02/22/2010 11:00 PM

Failure to achieve a binding agreement at the United Nations Framework Convention on Climate Change held in Copenhagen, Denmark last December has left insurers with no clear direction to address the growing risk from global warming, according to industry observers. “It is fair to say that Copenhagen did not deliver ... 

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Japan Retail Property May Yield 8% a Year, Challenger Life Says

Published - 02/17/2010 11:00 PM

Japan’s retail property market is “attractive” and will yield at least 8 percent annually, according to Challenger Life Co., a subsidiary of Australia’s Challenger Financial Services Group. The life insurance unit of Challenger Financial, backed ... 

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Insurers with investments in Iran face regulation in California

Published - 02/14/2010 11:00 PM

California’s Insurance Commissioner said next month he will take regulatory steps against insurers with investments in firms with Iranian connections that could lower their capital and surplus levels. The move by Commissioner Steve Poizner, which could possibly hurt company financial-strength ratings, came as surprise to an insurers group, which stressed ... 

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AIG Insurance Units' Risk Misunderstood By Treasury: NAIC

Published - 02/08/2010 11:00 PM

WASHINGTON—State regulators have told Congress the Treasury’s assessment of how American International Group holding company problems could have impacted AIG’s ability to pay insurance claims is wrong. In a letter to lawmakers the National Association of Insurance Commissioners said that American International Group’s difficulties at holding company levels would not have ... 

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