California Lawmaker Introduces Claim Information Control Bill Over Insolvent Insurers

A California lawmaker on Friday introduced a bill to give greater control of claim information held by insolvent companies over to policyholders.

Carlyle Group Drops Controversial Arbitration Requirement for Shareholders

Carlyle Group LP, a giant private equity firm that has filed for an initial public offering, has dropped a controversial effort to require its future shareholders to resolve claims through arbitration rather than in court. The Washington, D.C.-based firm, with $148 billion of assets under management, said on Friday it made the change after consulting with the U.S. Securities and Exchange Commission, which must approve any plans to go public, as well as investors and other interested parties

ABI Warns of Increased Flood Risks in England and Wales

The Association of British Insurers (ABI) has warned that the flood risk faced by communities in political constituencies across England and Wales presents a “worrying”‘ situation. It selected “Boston and Skegness in Lincolnshire as the constituency with the most homes at significant risk of flooding followed by the Vale of Clwyd, Folkestone and Hythe, then Windsor.

California Insurance Commissioner, Insurers Settle on Iran Investments

California Insurance Commissioner Dave Jones and a group of insurers have settled litigation over insurer investments in companies doing business in Iran, it was announced on Friday. The terms of the settlement permit the Jones to “maintain a public list of businesses involved in volatile sectors of the Iranian economy,” according to a statement issued by Jones’ office. The settlement also prevents Jones from declaring the investments of insurers in question to be declared non-admitted

Jones: California Workers’ Comp Filings Show Companies Using Advisory Rates

A majority of companies are using California Insurance Commissioner Dave Jones’ approved advisory pure premium rates in their rate filings for 2012, and the result is a combined increase of 2.8 percent for companies, according to Jones’ office. On the face of it, the small increase and improved guidance from Jones are a win for the commissioner.

McMillan Named Poms Human Resources Director

Poms & Associates Insurance Brokers Inc. has named Naureen McMillan as human resources director

ABI Assures UK Flood Victims Insurers Ready to Help

The Association of British Insurers (ABI) has issued a bulletin advising “anyone who has suffered flood damage as a result of the heavy rain that has so far hit Northern Ireland, Wales and south-west England to contact their insurer as soon as possible.” Nick Starling, the ABI’s Director of General Insurance, noted: “Events like this are exactly why people take out insurance. Insurers plan for bad weather, and will have arrangements in place to minimize distress and inconvenience and help people recover as quickly as possible.

Jones Explains New California Workers’ Comp Calculations at Public Hearing

California Insurance Commissioner Dave Jones explained during a public hearing in Sacramento on Tuesday why the Workers Compensation Insurance Rating Bureau is restructuring how the state’s workers’ compensation pure premium rate is calculated, a move that was supported by the Association of California Insurance Companies. Jones and ACIC are on board with a new process of analyzing rates that insurers have filed and using that as a benchmark to make the pure premium reflect the market rate.

KEMI to Offer Preferred Program to the Kentucky Restaurant Association

Kentucky Employers’ Mutual Insurance (KEMI) and the Kentucky Restaurant Association (KRA) have launched a new workers’ compensation program.  KEMI is partnering with KRA to make workers’ comp benefits affordable for KRA’s members, and to provide the resources and support that are necessary to improve and maintain a safe work environment.  

Texas Insurance Executive Named President of Surety Bond Producers Association

John M. Rindt, executive vice president of the Surety Division of JDW Insurance, an El Paso, Texas-based insurance agency, has been installed as the president of the National Association of Surety Bond Producers (NASBP). The NASBP is an international trade association in Washington, D.C., serving a membership of firms with personnel of over 5,000 surety agents and brokers

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