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NATIONAL
May
14, 2002
NCCI
Holdings Inc. Says Workers' Comp Market Remains Difficult
NCCI Holdings, Inc., delivered its "State of the Workers Compensation
Insurance Line" presentation to an estimated 500 insurance executives
at the NCCI Annual Issues Symposium (AIS) in Orlando, Fla., claiming
the state of the workers' comp market remains tough with early 2001
results indicating one of the year's worst performances in the market's
history.
(go
to story)
May
14, 2002
The
St. Paul Companies Unveils New Underwriting Operation for Large,
National Property Accounts
The St. Paul Companies has formed a new underwriting operation that
will target large national and regional property risks in the U.S.
(go
to story)
May
14, 2002
Zurich
North America Offering Group Legal Expense Coverage
Zurich North America is now offering group legal expense insurance
benefits to companies with 500 or more employees. (go
to story)
WEST
May
14, 2002
Colo.
Legislature Acts to Extend No-Fault Law One Year as Session Ends
During
the hectic final days of its 2002 session, the Colorado Legislature
passed legislation extending the sunset of the no-fault auto insurance
law to July 2003. (go
to story)
May
14, 2002
American
Strategic Insurance Selects Resonate Commander Solutions for Applications
California-based
Resonate Inc., a provider of management solutions for business-critical
applications, announced that American Strategic Insurance has selected
Resonate Commander SolutionsT to ensure quality end-user experience
for insurance brokers accessing its internal applications. (go
to story)
May
14, 2002
Modesto,
Calif. Man Surrenders on Fraud Charges
Investigators
with the California Department of Insurance (CDI) Criminal Investigations
Branch's Fraud Division arrested a Modesto man on two counts of
insurance fraud.
(go
to story)
SOUTH
May 14, 2002
Insurers
under Investigation Donate to Texas GOP AG Candidate
Farmers
and Allstate, under investigation along with by the Texas
attorney general's office for alleged deceptive homeowners market
practices, reportedly participated in a fund-raiser for Republican
attorney general candidate Greg Abbott in Austin. (go
to story)
May
14, 2002
Hilb,
Rogal and Hamilton to Acquire Hobbs Group
Virginia-based
Hilb, Rogal and Hamilton Company (HRH) has agreed to acquire the
Hobbs Group LLC, an Atlanta-based independent insurance broker.
(go
to story)
May
14, 2002
HCC
Reports 50 Percent Earnings Growth for 1stQ 2002
Houston-based
HCC Insurance Holdings Inc. of Houston has noted a record increase
for its first quarter numbers. (go
to story)
EAST
May
14, 2002
PIANJ
Gives Support to 'Bank Parity' Proposal
The Professional Insurance Agents of New Jersey issued a statement
supporting the New Jersey Department of Banking and Insurance for
its proposed regulation implementing the Parity Act, which amended
the powers of state banks, savings banks and their subsidiaries
to be consistent with new powers granted to federal banks by the
Gramm-Leach-Bliley Act. (go
to story)
May
14, 2002
MIIX Reorganization Endorsed by InterMedix
Even
as it winds down its 25 year life as one of New Jersey's leading
medical malpractice insurers (See IJ Website May 10 and 7), the
Lawrenceville based MIIX Group is receiving new support for the
resurrected, physician-owned, company it hopes to have up and running
by August. (go
to story)
May
14, 2002
Harleysville Named in Top 100 for Info Tech Employees
Information
Technology employees appreciate working for Pennsylvania's Harleysville
Insurance, one of the country's top ranked small commercial lines
underwriters. It's been named by IDG's Computerworld as one of the
100 "Best Places to Work in IT" in the United States. (go
to story)
MIDWEST
May
14, 2002
Iowa
Gov. Vetoes Bill That Would Have Spared Insurers From Paying Twice
for Injury
Iowa
Gov. Tom Vilsack has vetoed a bill that would have remedied a court
ruling that requires insurers to pay again for a first injury when
a worker suffers a second injury.
(go
to story)
May
14, 2002
Amerisure
Names Whyte to Board of Directors
Michigan-based
Amerisure Mutual Insurance Company named Bettina M. Whyte of Jay
Alix & Associates Inc., New York, to the company's board of directors.
(go
to story)
INTERNATIONAL
May
14, 2002
AXA's
Q1 Total Revenues Rise 1.9% to $19.2 Billion
France's
AXA Group reported that consolidated revenues for the first quarter
rose 1.9% to € 21.1 billion ($19.2 Billion) compared with the
prior year period, largely driven by a hefty 24.3 percent rise in
international insurance sales which surged by € 691 million
($628 million) to € 2.71 billion ($2.463 billion). (go
to story)
May
14, 2002
S&P Removes Lloyd's from CreditWatch, Affirms 'A-' Rating
Standard
& Poor's announced that it has removed the Lloyd's insurance market
from CreditWatch, where it was placed on Sept. 20, 2001, and has
affirmed its single-'A' insurer financial strength rating. (go
to story)
May
14, 2002
Zurich Names James Schiro as New CEO
Zurich
Financial Services announced that James Schiro it has been appointed
as its new CEO effective May 17. (go
to story)
May
14, 2002
Arch Capital Notes Significant Q1 Changes
Bermuda-based
Arch Capital Group issued a statement concerning its Q1 earnings
report reflecting the changes in capitalization and strategy that
it has undertaken during the past year. (go
to story)
May
14, 2002
XL's Reinsurance Units Launch New Website
XL
Re Ltd, XL Re Latin America LTD, Le Mans Re and XL Reinsurance America,
Inc., the reinsurance operations of Bermuda's XL Capital LTD, announced
the launch of their new joint website: http://www.xlre.com . (go
to story)
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