The global economy is showing significant signs of improvement, according to International Monetary Fund (IMF) Director Christine Lagarde. Lagarde traveled to Beijing this week to discuss the economic improvements that are being seen all over the world. Much of the improvements come from bold moves made in the insurance industry as a way to remedy the European financial crisis. With the help of insurers and reinsurers, the European Union was able to conduct the largest debt restructure in history and pull Greece from the brink of economic calamity. Lagarde notes…
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Commercial Insurance Expert John Elbl Appointed Vice President in AIR Worldwide’s Business Development Group
BOSTON, March 20, 2012 – AIR Worldwide (AIR) today announced that John Elbl has been appointed vice president in AIR’s Business Development Group. He joins AIR after 13 years with Zurich Insurance Company, most recently as global head of catastrophe modeling. In his new role, Elbl will assist with service and support for AIR’s commercial insurer clients, as well as aid in developing AIR software and models to better meet the needs of commercial insurers. “John brings extensive experience working with companies to interpret analysis results, optimize modeling workflows, and…
Read MoreTowers Watson research indicates that inquiries into D&O insurance coverage are growing
A Towers Watson survey has shown that a growing number of corporate officers and directors are looking into the coverage that their companies have or need for protection against possible lawsuits, which indicates that there is an increasing concern over the broad range of risks to which they are exposed. The annual survey, performed by Towers Watson, a worldwide professional services company, was called the “2011 Directors and Officers (D&O) Liability Survey”. It also determined that many American public, private, and nonprofit businesses and organizations have increased their D&O liability…
Read MoreInsurance Law Podcast examines the use of social media as a tool for the insurance industry
A.M. Best, a worldwide ratings and financial data services company serving the global insurance industry, has released its latest installment of the Insurance Law Podcast. The series focuses on insurance issues from a legal perspective and seeks to supply viewers with an understanding of how insurance laws are affecting the industry as a whole. This week’s podcast focused on the issue of insurers using social media to price policies and investigate claims. The latest podcast features attorneys Daniel Santaniello and Heather Calhoon from Luks, Santaniello, Petrillo & Jones law firm.…
Read MoreFlorida legislators back new bill that will reform the state’s no-fault auto insurance laws
As auto insurance fraud is thrusted into the limelight by the actions of federal and state regulators this week in New York, the eleven other states that host no-fault insurance laws are taking a hard look at what can be done to make fraud a less serious issue. Florida is currently the leader in terms of auto insurance fraud, much of which is spurred by the state’s no-fault laws. These laws require insurers to pay benefits to victims of car accidents no matter who may be at fault. Like in…
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