Insurance Blog

New Mexico Apoints Franchini Insurance Superintendent

Fri, 30 Jul 2010 14:20:45 +0000

The New Mexico Public Regulation Commission has appointed John G. Franchini Superintendent of Insurance by a 4-1 vote. Franchini, a New Mexico native, boasts nearly four decades of insurance …

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Florida Regulators Recover $11 Million for Insurance Policyholders

Fri, 30 Jul 2010 13:42:14 +0000

The Florida Department of Financial Services says it has helped recover more than $11.1 million for Florida's insurance consumers in the first half of 2010.
"Especially in these tough economic …

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Powers Named CEO of W.R. Berkley’s Carolina Casualty

Fri, 30 Jul 2010 13:26:46 +0000

W. R. Berkley Corp. has appointed Douglas J. Powers as president and chief executive officer of Carolina Casualty Insurance Co., succeeding William E. Haines. The appointment is effective …

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OneBeacon Q2 Reflects Sale of Personal Lines, Northeast Storms

Fri, 30 Jul 2010 13:21:26 +0000

OneBeacon Insurance Group reported second quarter net income of $9 million, operating income of $18 million, a drop in written premiums reflecting the sale of its personal lines business and a …

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OneBeacon Q2 Reflects Sale of Personal Lines, Northeast Storm Losses

Fri, 30 Jul 2010 13:21:26 +0000

OneBeacon Insurance Group reported second quarter net income of $9 million, operating income of $18 million, a drop in written premiums reflecting the sale of its personal lines business and a …

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Data Breach Risk Still Top for Financial Services

Fri, 30 Jul 2010 12:30:38 +0000

Data breaches continue to occur within all types of organizations, some more than others, according to a just-released report from Verizon Business and the U.S. Secret Service.
The 2010 Verizon Data Breach Investigation Report found that financial services, hospitality and retail still comprise the “big three” of industries affected (33 percent, 23 percent and 15 percent respectively) by data breaches.
A growing percentage of cases and an astounding 94 percent of all compromised records in 2009 were attributable to financial services, the report revealed.
For companies trying to manage this risk, the good news is that the overall number of data breaches declined in 2009.
According to the report, some 143 million records were compromised in breaches investigated in 2009, a 50 percent drop from over 360 million compromised records in 2008.
As was the case in the previous year, most of the losses in 2009 came from only a few breaches. The average number […]

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Thai Doctors Protest Proposed Malpractice Liability Law

Fri, 30 Jul 2010 12:18:44 +0000

Across Thailand many doctors traded their white coats for black on Thursday to protest a draft law that would give victims of medical malpractice legal rights to win compensation.
The law would be …

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Sen. Nelson Questions BP Tax Break for Oil Disaster Cleanup Costs

Fri, 30 Jul 2010 12:08:13 +0000

A U.S. senator from Florida called for a congressional inquiry into BP Plc's plan to use losses from the Gulf of Mexico oil spill to reap $10 billion in tax benefits.
Senator Bill Nelson said …

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New International Accounting Standard Aims to Clarify Insurers’ Profits

Fri, 30 Jul 2010 12:02:50 +0000

A global accounting standard setter proposed a new rule for measuring insurers' profitability on Friday, aiming to shine a light on a sector criticised by investors for being a "black box" that …

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House Set to Debate Oil Liability Bill

Fri, 30 Jul 2010 11:57:13 +0000

Three months after the catastrophic oil rig explosion that sent millions of gallons of crude spewing into the Gulf of Mexico, the House of was poised Friday to debate legislation clamping down on …

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