Website Attacks Consumer Watchdog

A website attacking a consumer group that often does battle with the insurance industry was launched on Friday, setting off more sparks in a roiling battle between proponents of two competing measures that Californians may see go head-to-head on the November ballot. Backers of one of the ballot measures, the 2012 Automobile Insurance Discount Act , immediately distanced themselves from the site, which takes on Santa Monica, Calif.-based Consumer Watchdog. “Our only interest in this is the campaign itself and having people read our initiative and understand what we’re doing,” Terry McHale, spokesman for the 2012 Automobile Insurance Discount Act campaign, said.

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

California AG Announces Half-Billion Dollar Settlement over Price-Fixing Scheme

California Attorney General Kamala D. Harris announced on Tuesday that her office, along with the attorney general offfices, reached a $553 million settlement with manufacturers for allegedly engaging in price fixing of flat screen LCD (Liquid Crystal Display) panels found in monitors, laptops and televisions. In October 2010, Harris filed a lawsuit against 10 companies for engaging in price fixing of LCD panels from 1999 to 2006 that resulted in higher prices for California residents and businesses, as well as government agencies.

Best Affirms FSR’s; Downgrades ICR’s of Allianz U.S. Units; Ratings on Review/Negative

A.M. Best Co.

Arizona Insurance Council Elects 2012 Officers

The Arizona Insurance Council (AIC) has elected new officers for 2012.

Mutual Insurers Pleased with FDIC Rule Clarifying Dodd-Frank

Mutual insurers are pleased with a new proposal that makes it clear they would continue under state regulation and not be governed by the liquidation provision of the new federal Dodd-Frank Act.

Initiative to Expand California Prop 103 Ignites Battle

A ballot initiative expand the scope of California’s Proposition 103 to include health insurance could also impact the auto insurance industry by challenging a long-sought-after persistency initiative for passage, industry watchers said on Thursday. Santa Monica, Calif.-based advocacy group Consumer Watchdog, which filed the Insurance Rate Public Justification and Accountability Act on Wednesday, must get just over 500,000 signatures to qualify it for the Nov. 6, 2012 ballot.

Firms Want Government Probes Banned from Gulf Oil Spill Liability Trial

The companies involved in the worst offshore oil spill in U.S. history are trying to prevent government investigations blaming them for the disaster from being used against them by the people and businesses who are suing them. Billions of dollars are potentially at stake in a trial scheduled for February to determine whether rig owner Transocean can limit what it pays those making claims under maritime law and to assign percentages of fault to Transocean and other companies involved.

How Debt Ceiling Politics Impact P/C Insurance Industry

As they watched Congress struggle to put a debt deal in place by Aug. 2, U.S

What the Waffle House Can Teach About Managing Supply Chain Risk

What can Waffle House teach about disaster preparedness and risk management, especially in the wake of this spring’s devastating tornadoes? Plenty, says a supply chain expert at Olin Business School, Washington University in St. Louis

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