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The Underwriter's Insider - Vol 6 Issue 1


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---- BREAKING NEWS -----

Wall Street Journal - How Charlie Christ ran off State Farm....Louisiana has a thriving private insurance market, in part because regulators have let companies adjust their rates. By law, Louisiana Citizens cannot offer ...

VIDEO: '500 MILLION AMERICANS LOSE JOBS EVERY MONTH'... Nancy Pelosi, Speaker of the House, apparently unaware there are only 300 million people in the US.  Dumber than a box of rocks?...

Surplus Lines Courting Trouble...The surplus lines insurer argued that it was exempt from the standard Florida insurance policy approval process. Traditionally, in Florida as well as ...

Swiss Re Falls Most on Record After Buffett Injection ...Swiss Re slumped 28 percent to 21.70 Swiss francs, the most since at least 1990, after posting a 2008 loss of about 1 billion francs and announcing plans to cut the dividend.

Iran says USA must accept nuclear program...A senior adviser to Iran’s president says dialogue with the US will succeed only if the Obama administration accepts Tehran’s right to have a nuclear programme.

Arthur Gallagher Falls After Net Income Drops 80%...Some corporate customers are scaling back purchases of insurance as payrolls and operations contract amid the US recession, according to Travelers Cos. ...

Man killed by exploding cellphone... A man has died after his mobile phone exploded, bursting an artery in his neck, it has been reported.

Owner of insurance firm pleads guilty to conspiracy...Most of the insurance policies were placed through a broker in Texas. In September 2005, Petrillo and Grub realized the policies obtained through that ...

We only employ workers born under specific star signs, says insurance company...The Salzburg insurance company posted an advert in major newspapers seeking employees for sales and management that were born under certain constellations, claiming statistics indicated that they were the best workers.

Really Dopey Opinion: Wall Street Journal blows hot air on Florida insurance debate...The Wall Street Journal’s editorial board weighed in today on Florida’s growing property insurance mess. What a shock: The pro-business publication chided ...

Obama On Daschle: "I Messed Up"...So again, this was something that was my fault. I continue to consider Tom Daschle an outstanding public servant, uh, and what we're going to do now is make ...

Arsonists increase cost of insurance in South Carolina...The South Carolina Arson Hotline has been a joint program of the South Carolina Insurance News Service and SLED since 1982. Hotline rewards are funded by ...

SC Commerce Department hosts insurance workshops...Small business owners are getting a chance to get some free insurance tips. The South Carolina Department ...

THEY KNOW WHERE YOU ARE: GOOGLE OFFERS PEOPLE TRACKING SOFTWARE...The company plans to launch software called Latitude on Wednesday that lets mobile phone users share their location with close contacts.

  1. Pender joins lawsuit against NC insurance hike...The lawsuit is opposing a 30 percent homeowners insurance increase for coastal homeowners, which was recently approved by the North Carolina insurance ...

Cash-strapped states want seat belt law changes...Drivers better buckle up or pay the price: More cash-strapped states want to give law enforcement officers the authority to pull over motorists just for not wearing their seat belts.

• Louisiana Insurance Company Theft...The former head of Louisiana's state-backed insurance company pleaded "not guilty" to 14 counts of theft. Terry Lisotta is accused of spending some ...

BANK OF AMERICA tumbles on nationalization worries...Shares fell more than 11 percent, marking the fifth straight decline, as rumors persisted that mounting losses on mortgages and corporate loans might lead to the nationalization of the Charlotte, North Carolina,

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Florida Insurance Commissioner Subpoenas State Farm Policyholder Information,,,Florida Insurance Commissioner Kevin McCarty today announced that he has issued a subpoena to State Farm Florida Insurance Company (State Farm Florida) requesting detailed information about the company's Florida property insurance policyholders.

Anxiety is running high with State Farm's departure From Florida...What's Louisiana got that we haven't got in Florida? Bill Ferguson, professor of finance, risk and insurance at the University of Louisiana at Lafayette, ...

Oil near $40 on rising crude supplies, weak demand...Oil prices wallowed near $40 a barrel as rising crude inventories and poor corporate results suggested the worst U.S. recession in decades could be deepening.

Dismissal of Louisiana suit sought by carriers...The insurance companies say Louisiana deducted insurance payments while it was calculating grant awards. Insurance Journal (02/02) Want to dig deeper? ...

Obama gets tough on executive pay...Barack Obama on Wednesday imposed sweeping restrictions on pay for executives at banks bailed out by taxpayers in an attempt to curb Wall Street excesses and stem public anger before an expected White House request for new emergency funds for the financial sector.

  1. Car insurance company adds 100 jobs, opens new facility...A national car insurance company will host a job fair Saturday, attempting to fill more than 100 positions at a new call center. ...

Video: Gov. Mark Sanford: Stimulus 'Huge Mistake' Listen to this opposing opinion...

• State Farm execs explain decision to leave Florida...State Farm Florida has lost hundreds of millions of dollars in the state in the last decade and risks insolvency if it continues writing property insurance ...

Study finds insurance industry "far from panicked"...An annual survey of US insurance CIOs shows "an industry far from panicked and cautiously maintaining its course" in an unstable and uncertain economy, ...

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Report: State malpractice claims, insurance rates fall...Medical malpractice claims and insurance rates fell again in Ohio in 2007, but the state’s top insurance official isn’t calling a win just yet for tort ...

90% of USA forecast to freeze tonight: Florida in the icebox - Somebody tell Al Gore... An upper atmosphere trough of low pressure pushing in from the Pacific will deliver rain to most of drought-plagued California tomorrow. Only the state's southeastern deserts will miss the precipitation.

Former NC Insurance Commissioner Jim Long dies...Former North Carolina Insurance Commissioner Jim Long died Monday after suffering a stroke on Jan. 21. Mr. Long, 68, recently retired from his ...

Palin hits back at Judd...Alaska Gov. Sarah Palin (R) defended herself Wednesday against an ad featuring actress Ashley Judd that accuses her of “championing the slaughter of wildlife.”

Insurance regulators question State Farm's dire claim...By comparison, State Farm's Texas homeowners in 2007 received 44 cents back on the dollar, and the company's national average was 58 cents. ...

Daschle news a surprise on the Hill...Senate Majority Leader Harry Reid (D-Nev.) said he was confident that Daschle would be confirmed. Sen. John F. Kerry (D-Mass.) said there were Republicans who would support him. Even before the meeting began, Sen. Kent Conrad (D-N.D.) declared: “Tom Daschle is going to be just fine.”

Georgia State employees will probably face more furloughs...Insurance Commissioner John Oxendine, who is taking a day off without pay each month along with his agency’s employees, said Perdue should be furloughed as ...

• Obama: I'm sorry, so sorry ...“I screwed up,” Obama told CBS in very un-presidential terms about Tom Daschle, whose nomination for Health and Human Services secretary had imploded a few hours earlier.

2 lose appeal in Florida insurance scam...A federal jury in Pensacola, Fla., found David W. Svete and Ron Girardot guilty in 2005 of fraud and other crimes through sales of viaticals, life insurance ...

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