April 2021

Louisiana Surplus Line Reporter

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and writing about this business for over 40 years.

Articles

C.R. England files racketeering lawsuit

C.R. England files racketeering lawsuit

A 98-page federal racketeering lawsuit was filed against a New Orleans law firm and one of its members over a tractor trailer wreck that was staged to defraud the owner of the tractor trailer and its insurer through bodily injury claims arising out of the staged...

LIGA board updated on expected claims from new liquidation

LIGA board updated on expected claims from new liquidation

Louisiana Insurance Guaranty Association (LIGA) Executive Director John Wells told the LIGA board of directors at its March 25 meeting that Bedivere Insurance Company was placed in liquidation by the Pennsylvania courts on March 11. Wells reported that the...

LDI gives a preview of its legislative package

LDI gives a preview of its legislative package

The legislative liaison for the Louisiana Department of Insurance previewed several bills which will be introduced during the 2021 Regular Session of the Legislature. The bills make up the department’s legislative package for the session convening April 12. David...

American Capital Assurance to be liquidated

American Capital Assurance to be liquidated

On April 2, Florida Commissioner of Insurance David Altmaier, advised the state’s chief financial officer in a letter that American Capital Assurance Company is insolvent and that its board of directors consented to an Order of Receivership. Under the order, American...

Smartphone app auto insurer opposes credit-based rating

Smartphone app auto insurer opposes credit-based rating

Root Insurance, a company that markets personal lines auto insurance based primarily on driver behavior, has launched a campaign against insurers’ use of credit-based scoring. In a Feb. 19 media release by Edelman, a global communications company, Jeremy Eisengrein...

National association defends insurers’ use of credit scoring

National association defends insurers’ use of credit scoring

The American Property Casualty Insurance Association took issue with Root Insurance Company’s mission to have credit-based insurance pricing outlawed across the country, either state-by-state or by federal fiat. Jessica Hanna, senior vice president public affairs,...

COVID-19 has created new normals in the business world

COVID-19 has created new normals in the business world

The world has changed since COVID-19’s appearance, never to return to the way it was; so, get ready for a cocktail of technological advances. That was the central message of futurist Chris Riddell, an Australian, who was one of three featured presenters at an...

Lloyd’s reports $1.2 billion loss for 2020 underwriting year

Lloyd’s reports $1.2 billion loss for 2020 underwriting year

London ViewsBy LEN WILKINSLondon CorrespondentLloyd’s annual report for 2020 shows a $1.2 billion loss as net COVID-19 claims reached $4.42 billion which caused the market to hit a combined operating ratio of 110.3 percent against 102.1 percent for 2019. The $1.2...

Pennsylvania seeks liquidation of Bedivere/One Beacon

Pennsylvania seeks liquidation of Bedivere/One Beacon

Pennsylvania Insurance Commissioner Jessica Altman announced March 19 that the Commonwealth Court approved a petition to liquidate Bedivere Insurance Company, formerly OneBeacon Insurance Company on March 11. Through the liquidation process, policyholder claims will...

Transformational change can lead to a better normal

Transformational change can lead to a better normal

Baby steps are about incremental change – slow, safe, and easy, with Momma standing by your side and holding your hand. Giant steps are about transformational change – leaps of faith with nobody to hold your hand, where risks abound, and sometimes someone is kicking...

News In Brief

News In Brief

News In Brief

PEOPLE Danny Kaufman, Burns and Wilcox, is among three new members that the Wholesale and Specialty Insurance Association recently welcomed to the WSIA board of directors. Kaufman was appointed to fill the remaining term for Joel Cavaness, Risk Placement Services, who...