Regional news: New York
Va. specialty insurer stretches E&S business across entire U.S.
A specialty property-casualty insurance company, based in Richmond, Va., recently became certified to write business on a surplus lines basis for all U.S. states and Washington, D.C.
Consumers disregard insurance packages, favor lower rates
Home and auto insurance buyers were less interested in home-auto package discounts in 2011 than the year prior, and more aware of competitive premium rates, a new study says.
P-C leaders say market hardening, financial crisis in back window
Not only do property-casualty insurance industry leaders believe the financial crisis is behind them, but they also believe rates are hardening, a new study finds.
HCC says Pioneer General now part of American Contractors Indemnity
Houston’s HCC Insurance Holdings said Pioneer General Insurance Co. will merge into American Contractors Indemnity Co., both of which are wholly owned subsidiaries of HCC.
SEC issues two alerts over risks posed by advisors using social media
The U.S. Securities and Exchange Commission issued two alerts pointing out risks investors and advisory firms face when using social media like LinkedIn and Facebook.
The rapper and hip hop mogul Jay-Z has been freed of an $18,000 workers’ compensation judgment in New York.
IIABNY: Insurers, not agents, should disclose policy cancellations
An insurance trade group in New York says that insurance companies, not agents, should be responsible for informing all concerned parties of pending policy cancellations.
Insurers’ lost $32B from natural disasters in first nine months of ’11
Natural disasters cost insurance companies more than $32 billion in direct insured losses in the first nine months of 2011, nearly double the average of other years, according to the Insurance Information Institute.
A Berkshire Hathaway insurance subsidiary, Medical Protective Co., acquired the largest medical professional liability insurer in New Jersey.
Consumers don’t understand health insurance, need transparency
More than half of adults report they are confused about health insurance when choosing which plan to purchase, a new survey found.
Obama to force insurers to give out birth control when employers won’t
Group representing 119 in Congress calls individual mandate illegal
Insurer fined for charging unapproved rates on students’ policies
Brokerage firm pays $3.3M for bad-mouthing insurance broker
Employee benefit offerings only as good as the discussion about them
Sponsors of 401(k)s adding features to boost participants’ investment
Mercury Insurance seeks agents, unveils new commercial auto product
Most, least expensive 2012 car models to insure announced
Two insurance agents allegedly stole $422,000 from family brokerage
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