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Four California cities ranked in a list of top 10 hot spots for drunk driving convictions, which ranks cities nationally on where drivers were most frequently cited for drunk driving and related violations.

San Diego and San Jose ranked No. 1 and 2, respectively. San Francisco finished in 8th place on the survey of 20 major metropolitan areas by Foster City-based Insurance.com, just one spot behind the erstwhile City of Angels, Los Angeles.
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The shifting regulatory sands and the need for the industry to exert its influence to shape outcomes is a recurring theme at National Association of Mutual Insurance Companies (NAMIC) 115th Annual Convention in San Diego.

Kicking off the conference, NAMIC Chairman John Hill II, noted that in many ways the industry was at a crossroads. Despite the fact that the insurance industry was largely successful in avoiding new regulatory strictures birthed Read the rest of this entry »

WASHINGTON — Making sure drivers keep their eyes on the road will require a network of tough laws, enforcement by police and personal responsibility, the government said Tuesday.

Obama administration officials said during a second summit on distracted driving that it has made progress in pushing states to target drivers who send text messages and use mobile devices from the road, but too many people are being killed because of inattentive Read the rest of this entry »

Excessive billings by medical mills, fraudulent companies that provide few if any real health care services to the public, are a key factor in driving New York State’s no-fault automobile insurance fraud crisis. New data shows the problem with medical mills’ excessive treatment is growing, according to the New York Alliance Against Insurance Fraud (NYAAIF).

During the first six months of 2010, questionable liability insurance claims involving Read the rest of this entry »

Terrorist attacks, hurricanes and pandemic risks top the list of “Top Ten Mega Disasters” of the past decade, released yesterday by Zurich, one of the largest property/casualty insurers globally and in North America.

The mega disasters, which were selected by Zurich based on overall business impact and ranked chronologically, are:

1. 9/11 ­ 2001

2. SARS ­ 2003

3. 2003 U.S./Canada power outage ­ 2003

4. 2004 Read the rest of this entry »

The market for directors and officers liability insurance remains soft, according to a quarterly pricing index that an Aon Corp. unit released Tuesday.

The price of D&O coverage decreased 16.4% in the second quarter of this year compared with the same period last year, concluded the report from Chicago-based Aon’s Financial Service Group. That is the largest decrease since the fourth quarter of 2007 and the second consecutive quarter in which Read the rest of this entry »

Republicans will reopen the broad Wall Street reform law and overhaul the newly created consumer protection bureau if they regain control of Congress after the November elections, a leading lawmaker said Monday.

Richard Shelby, the top Republican on the powerful Senate Banking Committee, said lawmakers must revisit the legislation enacted this summer, which is the broadest overhaul of financial rules since the Great Depression.

“The Read the rest of this entry »

The Atlantic region can expect one more major hurricane this autumn and the northeast U.S. coast still faces double the average risk of getting hit, Weather Services International (WSI) said Tuesday.

The Massachusetts-based private forecaster predicted the six-month Atlantic-Caribbean storm season that ends Nov. 30 would see a total of six “major” hurricanes with winds of at least 111 miles per hour — one more than it envisaged in its August Read the rest of this entry »

The magnitude of the financial crisis was such that a reciprocal response from regulators around the world is hardly a surprise. The most recent sigma study from Zurich-based Swiss Re, “Regulatory Issues in Insurance,” takes a look at this response around the globe.

Paradoxically, much of regulations bandied in response to the crisis, began gaining acceptance well before it. Most prominent among these is the move toward principles-based Read the rest of this entry »

Excessive billings by medical mills, fraudulent companies that provide few if any real health care services to the public, are a key factor in driving New York State’s no-fault automobile insurance fraud crisis. New data shows the problem with medical mills’ excessive treatment is growing, according to the New York Alliance Against Insurance Fraud (NYAAIF).

During the first six months of 2010, questionable liability insurance claims involving Read the rest of this entry »