The Lower New York Insurance Blog

In the view of many, the problem with AIG until recently was that it was driven by imperious personality. That problem was solved by the forced departure of Hank Greenberg by now-discredited ex-New York Attorney General Eliot Spitzer. However, with the arrival of Bob Benmosche as CEO, big personality is back.

The American Worker Plans, working with LifeStrive and the Allstate Workplace Division, have begun national marketing of an innovative program of wellness coupled with critical illness or cancer protection.  Under this program, you can offer a group package of critical illness or cancer plans, inclusive of a preventive care benefit, …

Investment returns are likely to be better in the second quarter than in the first, and weather-related catastrophe losses are “just a bit above the typical second-quarter’s result,” estimated Edward Shields of Sandler O’Neill & Partners. He expects “a fairly positive” second quarter except possibly in one area - the …

WASHINGTON (Dow Jones)–The insurance industry is seeking changes to legislation to create the new Consumer Financial Protection Agency that would prevent insurers from being swept into the agency’s purview.
Thirteen insurance trade groups, in a letter to key lawmakers, asked to exclude mortgage, title and credit insurance from the agency’s …

Promoters of concerts take on great risks.  Many performing stars are temperamental, have addictions and are sick often, thus having concerts canceled since the star can not perform. These risks along with other risks as rented stage or venue facing a peril, performer just decides not to perform, security issues where authorities close down the [...]

Our favorite insurance technology-related blog posts from around the Web (May 24-30, 2009):
The Consequences of Printing Money
Celent’s Nicolas Michellod examines the current state of the credit crisis, paying particular attention to the amount of money currently in circulation across the global economy. “More than questioning if there is really a credit crisis, what appears to [...]

Our favorite insurance technology-related blog posts from around the Web (May 3-9, 2009):

With all of the various channels for buying insurance these days, insurance agents have a lot of competition. Are insurance agents slowly being phased out by other methods of purchasing insurance? A new JD Power and Associates report sheds some interesting light on the matter.
•    About 55 percent of all …

For years, experts in construction insurance have debated how to classify, for insurance purposes, the various costs incurred when completion of a construction project is delayed due to a covered loss.The revised forms appear in the AAIS Inland Marine Guide of forms, rating procedures, underwriting guidelines, and other information for …

Inland Marine insurance is one class of insurance that is most mis-understood by insurance professionals. Since it accounts for only about less than 2% of the Property and Casualty insurance premiums in the United States, not much attention is focused on this class of insurance. Typically Inland Marine insurance is classified as property insurance, but many sub-classes provide liability coverages….