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CEO: Gallagher Works to Address 'Technical Gap' Among Novices, Insurance Veterans
Insurance Society of Philadelphia. The society, founded in 1901, is one of the oldest insurance educational institutions in the United States. Historically, up until the 1990s ...
Source: BestWire   Date: November 28, 2011
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Another PIP Reform Fight Looms in Florida
Put out one fire, another flares up elsewhere. Since a 2000 grand jury report on fraud and abuse in the system, the legislature has enacted anti-fraud provisions in 2002, 2003 and ...
Source: BestWire   Date: November 28, 2011
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Lockton: Buyers Need to Prepare as Insurers Stop Offering Price Discounts
Jim Rubel, executive vice president at Lockton. He characterized the market as "difficult," especially for those in cat-exposed areas. While there was not "one large hit to the ...
Source: BestWire   Date: November 18, 2011
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Louisiana Citizens Property Sheds Nearly 11,000 Policies in Latest Depopulation Effort
The policy count at Louisiana Citizens Property Insurance Corp. shrank to just more than 100,000 policies as the state-run insurer successfully completed its latest depopulation ...
Source: BestWire   Date: November 17, 2011
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Travelers Global Technology President: New Unit Takes Advantage of Growing Use of Clean Energy
Kathy Swendsen, president of Travelers Global Technology. The new practice will focus on U.S.-based companies, and states including California, Texas, New Jersey, and Iowa present ...
Source: BestWire   Date: November 16, 2011
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Liberty Mutual Completes Acquisition of Quinn Insurance of Ireland
Liberty Mutual Direct Insurance Co. Ltd., will continue to operate from existing offices in Cavan, Dublin and Enniskillen, with Cavan as its headquarters. Quinn has some 1,500 ...
Source: BestWire   Date: November 14, 2011
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Florida Governor Calls on Citizens Board to Find Ways to Shrink State-Run Insurer
November meeting of the Florida Cabinet. "We know we have a serious problem if a major storm hits our state. We have to have real solutions," Scott said. Citizens, formed in 2002 ...
Source: BestWire   Date: November 14, 2011
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Nationwide Posts Third-Quarter Loss on Weather and Investment Losses
Nationwide Mutual Insurance Co. swung to a third-quarter net loss, as the mutual company incurred $290 million in losses related to Hurricane Irene and hefty investment losses. For ...
Source: BestWire   Date: November 11, 2011
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American Platinum Writes Its First Homeowners' Policy in Florida
American Platinum Property and Casualty Insurance Co., an operating company wholly owned by Universal Insurance Holdings Inc., has written its first homeowners' insurance policy in ...
Source: BestWire   Date: November 11, 2011
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Key House Panel Unveils PIP-Reform Bill With Input From Florida Gov. Scott, CFO Atwater
Rick Scott and Chief Financial Officer Jeff Atwater. The draft legislation released by the House Insurance and Banking Subcommittee would cap attorneys' fees and limit treatments ...
Source: BestWire   Date: November 10, 2011
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Homeowners Choice CEO: HomeWise Book Expands Its Agent Base
The acquisition of HomeWise Insurance Co.'s book of business will provide Homeowners Choice Property & Casualty Insurance Co. Inc. with a complementary book of business and a ...
Source: BestWire   Date: November 10, 2011
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NY Regulators Order 11 Health Insurers to Refund $114.6 Million in Premium Overcharges
Those individuals should receive their refunds by Dec. 15. Another $25 million has been refunded to small groups covering 291,000 individuals in groups of 50 or fewer people, and ...
Source: BestWire   Date: November 9, 2011
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Homeowners Choice Acquires HomeWise Insurance Policies in Florida
Homeowners Choice Property & Casualty Insurance Co. Inc. has acquired up to 70,000 homeowners policies of HomeWise Insurance Co., whose sister operating company, HomeWise Preferred ...
Source: BestWire   Date: November 8, 2011
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Allstate Files $5 Million Insurance Fraud Suit in New York
The suit, filed in the U.S. District Court for the Eastern District of New York, alleges the defendants submitted claims for acupuncture services for corporations that weren't ...
Source: BestWire   Date: November 7, 2011
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Berkshire Hathaway's 3Q Net Income Drops on Derivative Losses
Hartford Financial Services Group Inc., Travelers Cos. Inc., Chubb Corp. and CNA Financial Corp. have said they have experienced an improved pricing environment (Best's News ...
Source: BestWire   Date: November 7, 2011
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Citizens Property of Florida to Drop Coverage of Many Detached Structures
Citizens Property Insurance Corp., the largest homeowners' writer in Florida, said it will end coverage of many detached structures, including gazebos, cabanas, pergolas, awnings ...
Source: BestWire   Date: November 4, 2011
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Liberty Mutual CEO: Company Boosting Reserves on Asbestos; Posts 3Q Loss
Chief Executive Officer David H. Long said in a conference call. "There's nothing gratifying about recording an increase in our reserves, but it is satisfying that we have the ...
Source: BestWire   Date: November 4, 2011
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Hartford Financial Services Third-Quarter Net Drops on Cats, Other Costs
Hartford Financial Services Group Inc. reported a drop in third-quarter results, weighed down by deferred acquisition costs and catastrophe losses. "The macroenvironment in the ...
Source: BestWire   Date: November 3, 2011
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A.M. Best Cat-Risk Management Methodology Emphasizes Data Quality, Monitoring Exposures
Katrina in 2005 and Hurricane Andrew in 1992. "From an industrywide perspective, I think companies have made a lot of headway with regards to improving data quality," Attanasio ...
Source: BestWire   Date: November 3, 2011
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Insurance Groups, Consumer Advocate Call for Comprehensive PIP Reform in Florida
State Farm, Allstate Corp., the Insurance Information Institute, and the Florida Insurance Council, to the Florida Cabinet and banking and insurance lawmakers. Prior to the working ...
Source: BestWire   Date: November 1, 2011
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