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Insurance Journal

The Insurance Policy

Bright Spots and Challenges Go Hand in Hand in Louisiana

Despite the challenges faced by the state of Louisiana since Hurricanes Katrina and Rita wrought their havoc in 2005, there are bright spots in the state's property casualty insurance industry, says L
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Insurers Urge Surcharges, Reforms to Fix North Carolina Beach Plan

Property/casualty insurers are urging North Carolina officials to impose surcharges on policies in the state's residual market property insurer, the Beach Plan, and take other financing and mitigation
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Mississippi Insurance Chief Chaney Reports Progress in Rebuilding Markets

One year after he was elected, Mississippi Insurance Commissioner Mike Chaney says his state has made progress in rebuilding its insurance markets that were ruined by the 2005 hurricanes. Mississip
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AIG in Deal with U.S. Government to Terminate Some Debt Obligations

American International Group Inc. and the U.S. government have reached an agreement to clear the insurer of its obligations on about $53.5 billion in toxic mortgage debt, the giant insurer said in a r
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New York and French Regulators Sign Cooperation Agreement

The New York State Insurance Department has signed an agreement with its counterpart in France that calls for increased cooperation and consultation between the two regulatory bodies. The agreemen
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U.S. Supreme Court Stays Out of West Virginia Damages Case

The U.S. Supreme Court is refusing to enter a politically charged case from West Virginia, a major coal producing state, that involves a large punitive damages award and allegations of bias by a state
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FDA Cites Progress on Food Safety

The U.S. Food and Drug Administration says it is making "significant progress" with its one-year program to protect both domestic and imported food from accidental and intentional contamination. "
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Swiss Re sigma Report Analyzes Emerging Markets, Takaful

Swiss Re's newly released sigma study explores the latest developments in the insurance sector of emerging market economies, with a special focus on the growing market for takaful, a form of Is
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Financial Firms Sign Pact to Bar Lawsuits Over Employee Poaching

It's getting easier for restless financial advisers to jump ship. Independent advisory firms are rushing to sign an agreement that bars lawsuits between signatories that hire away each other's brok
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Virginia's Fall Fire Season Ends with 304 Acres Burned

Virginia's fall fire season has ended, with far fewer scorched acres than the spring edition. Over the 47-day season that ended Sunday, the Virginia Department of Forestry responded to 67 fires tha
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Philadelphia Food Workers Claim Bias, Sue for $200M

Black cafeteria workers at Philadelphia's newest skyscraper claim in a $200 million lawsuit that they have endured racist remarks, job discrimination and retaliatory firings. Eleven plaintiffs file
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North Carolina Security Firm in Anti-Piracy Meetings in London

North Carolina-based private security contractor Blackwater Worldwide is meeting with shipping and insurance companies this week to describe what the company can do to protect vessels traveling throug
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Kingsway Sets Shareholders' Meeting to Vote on CEO's Removal

Kingsway Financial Services said it has called a special shareholders' meeting for Feb. 10 to deal with a shareholder's attempt to replace the company's chairman and chief executive. Kingsway said
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HCC Insurance to Acquire Surety Company of the Pacific

HCC Insurance Holdings Inc. announced it has executed an agreement to acquire Surety Company of the Pacific (SCP), a writer of license and permit bonds headquartered in Encino, Calif. This transacti
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Canada's Natural Gas Firm Tenaska Buys Back Interests from AIG

American International Group, Inc. (AIG) and Tenaska, Inc. (Tenaska) today reported that Tenaska will repurchase the interest in Tenaska Marketing Ventures, Tenaska Gas Storage and Tenaska Marketing C
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