November 2020
Louisiana Surplus Line Reporter
We are insurance industry professionals working
and writing about this business for over 40 years.
Articles
Attorney indicted in accident scheme
In the ongoing probe into staged accidents, the United States Attorney for the Eastern District of Louisiana Peter G. Strasser announced the first indictment of an attorney involved in the staging of accidents in the New Orleans area. Strasser announced the indictment...
Feds indict four more participants in 2015 staged accident scheme
Four people have been charged in a three-count federal indictment for their involvement in a staged accident scheme in 2015 in New Orleans that resulted in a $4.7 million settlement. U.S. Attorney Peter G. Strasser of the Eastern District of Louisiana announced the...
LCPIC board votes to approve corporate officers and budget
At Louisiana Citizens Property Insurance Corp.'s (LCPIC) Nov. 12 board of directors meeting, the board was updated by management on LCPIC's response to claims from the 2020 storm season, voted unanimously to approve the corporation's officers for 2021, approve the...
Task force looks to lower auto rates
When the Task Force for Affordable Auto Insurance (TFAAI) met for the first time Sept. 29, members heard from the director of The Louisiana Automobile Theft and Insurance Fraud Prevention Authority, the commissioner of insurance, a representative of the Louisiana...
Hudson to buy Southern Fidelity
Hudson Structured Capital Management Ltd., doing its (re)insurance business as HSCM Bermuda, announced Nov. 3 that it intends to take a majority ownership of Southern Fidelity Insurance Company and its affiliated entities on or about Nov. 12. In exchange for its...
Stonetrust Commercial Insurance Company moves into new offices
Stonetrust recently moved into its new office on the eighth floor of the office building at 5615 Corporate Boulevard in Baton Rouge. Stonetrust started the renovations on the 8th floor in early March before the start of the shut-downs due to COVID-19. The planning for...
Net-Zero Asset Owner Alliance sets portfolio decarbonization goals
Investors in the Net-Zero Asset Owner Alliance, which was convened by the United Nations, announced Oct. 13 its portfolio decarbonization targets for 2025 as part of wider efforts to align their portfolios with the Paris Climate goals, including limiting the global...
Markets harden, it could be a hard winter for brokers
London Views By LEN WILKINS London Correspondent London underwriters continue to increase rates and take advantage of a hardening market. Managing agent Hiscox's latest trading statement shows rates accelerating further in the third quarter, with aggregate...
Hartwig: P/C profit not dependent on who’s in the White House
Thirteen days before Election Day, Robert Hartwig, Ph.D., CPCU, addressed the ICT Property and Casualty Symposium, for the first time virtually, even though he has appeared in person at the annual event at least 15 times previously. Hartwig said then that he looked...
Hartwig Q&A
During Q&A following Robert Hartwig's prepared remarks to the ICT Property and Casualty Insurance Symposium, an industry member posed the question: "In Texas there is a lot of talk about plain language in insurance policies. What are your thoughts? Can plain...
News In Brief
Louisiana News In Brief November 2020
PEOPLE W.R. Berkley Corp. announced Oct. 30 that it has named Thomas Joyce to succeed Thomas Kuzma as president of Nautilus Insurance Group, a Berkley company. Joyce will transition to his new role on Jan. 1, 2021. Kuzma has been named chairman. Joyce joined Nautilus...