Monthly Archives: <span>June 2007</span>

UK Underwriters Consider Implications of Smoking Ban

The U.K. will soon join a number of other EU countries in imposing a draconian ban on smoking in public places. As of July 1, lighting up in “all enclosed spaces,” including pubs, clubs and workspaces, will be prohibited. As …

S&P Rates AXA Securitization

Standard & Poor’s Ratings Services has assigned preliminary credit ratings to the €411.6 million ($551 million) asset-backed floating-rate notes to be issued by a French “fonds commun de créances (FCC), FCC SPARC Europe (Senior).” The transaction involves the securitization of …

S&P to Review ‘Hybrid Equity’ Covenants of Top Bermuda Insurers

Standard & Poor’s Ratings Services announced that it is “undertaking a review of the preference stock and other hybrid equity issues of the following seven insurers and reinsurers: ACE Ltd. (A-/Stable/A-2), Arch Capital Group Ltd. (BBB+/Stable/–), Aspen Insurance Holdings Ltd. …

Oregon Company Issues Recall of Natural Foods Products

Toby’s Family Foods of Springfield, Ore., is recalling two products because of the risk of salmonella contamination. The company said it is recalling 353 units of Toby’s Lite Sour Creme and Toby’s Toasted Sesame Dressing that were distributed primarily in …

Calif. Assembly Passes New Rate Requirements for Health Insurers

The California Assembly has approved a bill requiring insurance companies to get approval by the Department of Managed Health Care or the Department of Insurance before they can increase the amount of their premiums, copayments, coinsurance obligations, deductibles, and other …

How Insurance Agents Can Advertise Online with a Small Budget

QuotesAuction.com, nation’s leading insurance leads provider gives insurance agents an opportunity to take advantage of online marketing without the risk of loosing money. QuotesAuction.com advertises on search engines like Google, Yahoo, MSN, and others to find motivated insurance consumers. Insurance …

Harleysville Insures Families’ ‘Extreme Makeover’ Homes…for Free

For the next year, the Oatman-Gaitan family of Schenectady, N.Y., will not have the financial burden of paying for homeowners insurance. That’s because Harleysville Insurance, a regional property/casualty insurer based in southeastern Pennsylvania, is providing a free one-year policy for …

Ga. Drought Damaging Crops, Jacking Up Irrigation Expenses

The sky above Randy Scarbor’s south Georgia cantaloupe fields was overcast, but the clouds were from massive wildfires to the east. May 2007 set records for dry conditions in Georgia. Across the main crop-producing regions of Georgia, the most severe …

N.C. House Panel OKs Standard for ‘Fire-Safe’ Cigarettes

With the cautious support of North Carolina’s tobacco manufacturers, a House committee approved a bill Tuesday that would require the companies to make and sell cigarettes that burn out if left unattended. The so-called “fire-safe” cigarettes are rolled in special …

Tenn.: Alexander Says Sick Nuclear Workers Need Compensation Now

U.S. Sen. Lamar Alexander is pressing the Bush administration to fully fund a compensation program for sick nuclear weapons workers and calling for Senate hearings on why claims have been delayed. “It has come to our attention that critical components …