Va. Supreme Court to Again Hear Climate Change Liability Arguments
Tue, 07 Feb 2012 11:44:00 GMT

The Virginia Supreme Court has set aside its previous decision on climate change liability in favor of hearing arguments again, court records say...

Investor Survey on Trust Shows Top Marks for Advisors, Low Marks for Congress
Tue, 07 Feb 2012 10:39:00 GMT

A recent John Hancock survey of investors on the concept of trust in institutions and individuals showed that investors rank their financial advisors highly while viewing Congress far less favorably...

Brown & Brown President: 'Dangerous Time' for Agents and Brokers
Mon, 06 Feb 2012 22:53:11 GMT

It's a dangerous time for retail agents and brokers, said J. Hyatt Brown, chairman and acting president of Brown& Brown Inc.. For instance, in Northern Florida, new property rates are flat to negative 5%, while renewal rates are flat to up 5%, "if it sticks," Brown said."...

Brown & Brown President: 'Dangerous Time' for Agents and Brokers
Mon, 06 Feb 2012 22:53:10 GMT

It's a dangerous time for retail agents and brokers, said J. Hyatt Brown, chairman and acting president of Brown& Brown Inc.. For instance, in Northern Florida, new property rates are flat to negative 5%, while renewal rates are flat to up 5%, "if it sticks," Brown said."...

$1.5M New West Deal Before Insurance Commissioner
Mon, 06 Feb 2012 16:59:00 GMT

State regulators are examining a $1.5 million proposal by an Oregon insurer to take over a portion of Montana's third-largest health insurance company as part of a government anti-trust settlement...

Prudential, 7 States Settle Death Master File Probe
Mon, 06 Feb 2012 16:46:00 GMT

Prudential Insurance has entered into a $17 million settlement with seven states to help conclude an investigation into how the company uses the Social Security Administration's Death Master File to find life insurance policyholders who have died...

State Farm Adding 3,000 Posts, 900 Agents to Ranks
Mon, 06 Feb 2012 16:13:39 GMT

State Farm is looking to fill 3,000 positions across the United States and Canada and add about 900 agents...

Two Senators Introduce Bill Excluding Broker Compensation From MLR
Mon, 06 Feb 2012 14:01:00 GMT

Mary Landrieu, D- La., and Johnny Isakson. R- Ga., have introduced legislation that would exclude agent and broker compensation from the Patient Protection and Affordable Care Act's medical loss ratio requirement...

Robust Reserves Free Health Writers to Eye Products, Acquisitions
Mon, 06 Feb 2012 11:20:17 GMT

Health insurance companies are sitting on record levels of cash reserves, which is likely to spur merger and acquisition activity into the foreseeable future...

Sales of New York Life’s Gtd. Future Income Annuity Continue to Surge
Mon, 06 Feb 2012 10:53:00 GMT

Premiums thus far exceed $230 million with sales commencing only since July, making it the fastest growing annuity product solution in the company's history...

Lack of Regulation, Fraud Brings Florida Auto Market to Tipping Point
Mon, 06 Feb 2012 10:13:00 GMT

As widespread fraud associated with the Florida automobile insurance market racks up costs for insurers, industry experts are wondering if the state is nearing an unsustainable tipping point...

E&Y: European Insurers Must Be More Nimble in Unfavorable Economic Environment
Mon, 06 Feb 2012 10:10:00 GMT

The ongoing sovereign debt crisis and other economic factors are likely to make business difficult for European insurers as they force changes in consumer behavior, investor confidence and capital allocations, consultancy Ernst& Young warned in a new report...

Super Risks Face Sunday's Super Bowl Insurers
Sun, 05 Feb 2012 16:43:25 GMT

The game, which has been in the planning process for years, will take place Feb. 5 at Lucas Oil Stadium in Indianapolis and will feature the New England Patriots and the New York Giants in a replay of the 2008 National Football League championship.

MetLife Runs Its First-Ever Super Bowl Ad
Fri, 03 Feb 2012 16:18:00 GMT

MetLife, Inc., a leading global provider of insurance and employee benefit programs, and the title sponsor of MetLife Stadium, announced it will run a 30- second Super Bowl ad that will feature the Peanuts characters and dozens of other celebrities never before seen on TV together...

Starr Lawsuit Charges Feds Unlawfully Took Over AIG
Fri, 03 Feb 2012 16:03:00 GMT

Starr International has amended a lawsuit against the federal government, alleging the government's 2008 takeover of American International Group was illegal, and a way for the government to covertly funnel billions of dollars to other financial institutions...

BB&T to Purchase Crump Group's Life and P/C Divisions
Fri, 03 Feb 2012 12:20:00 GMT

BB&T Corp. is planning to expand their insurance operations by purchasing the life and property/casualty insurance divisions of a Roseland, N.J.- based broker, the company said in a statement...

Insurance Industry Adds 1,100 Jobs in January
Fri, 03 Feb 2012 11:46:00 GMT

The U.S. insurance industry added 1,100 jobs in January— a mere 0.05% increase from the previous month, according to the latest employment report released by the U.S. Bureau of Labor Statistics...

'Death Master' Investigation Results in National Settlement With Prudential
Fri, 03 Feb 2012 10:49:00 GMT

Calif. Insurance Commissioner Dave Jones announced they have negotiated a multi-million dollar settlement, along with Florida, Illinois, New Hampshire, North Dakota, Pennsylvania and New Jersey, with Prudential Insurance Company...

MIB: Life Insurance Apps Showed 'Stability' in 2011
Fri, 03 Feb 2012 10:38:00 GMT

Overall, the MIB Life Index has shown stability three years in a row, compared with about five years ago, when the industry was seeing year-over-year decreases, said Lee Oliphant, CEO and president of MIB Group. "The stability that it's shown in this difficult economy...bodes well for the industry as it's an affirmation that people really recognize a need for life insurance."...

Genworth's 4Q Earnings Boosted By Life Insurance
Thu, 02 Feb 2012 19:17:00 GMT

Shares of Genworth Financial Inc. shot up in after-hours trading Thursday, after the insurance company swung to a quarterly profit and beat analysts' estimates. Genworth said fourth-quarter net income was $107 million, compared to a loss of $161 million in the same period a year ago...