Business Insurance Group

NOW Reaffirms Support for Single-Payer Healthcare

“Women need jobs, not cuts,” said NOW President Terry O’Neill. “We oppose any cuts to Medicare, Medicaid and any health benefits derived from the Social Security Act. And candidates who want women’s support need to stand with us in support of single-payer healthcare legislation on the state and federal levels.”

The resolution also cites support for the right to healthcare, access to comprehensive health services including vision, dental, hearing and reproductive health, and support for state and national single-payer legislation.

We acknowledge the work of Donna Smith, Jewel Crawford, Lisa Patrick Mudd, Natalie Maxwell, Marilyn Albert, Andrea Miller, and all those who attended the NOW conference and helped to support this resolution process. These women

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Hallmark Financial Completes Acquisition of Texas Builders Insurance

Hallmark Financial Services Inc., based in Fort Worth, has completed its previously disclosed acquisition of TBIC Holding Corporation, including its wholly owned subsidiaries Texas Builders Insurance Co. and TBIC Risk Management Inc. .

TBIC is an Austin, Texas-based insurance company writing small and middle market workers’ compensation business in Texas. Hallmark funded the $1.6 million required to close the acquisition from available working capital.

Hallmark Financial is an insurance holding company which, through its subsidiaries, engages in the sale of property/casualty insurance products to businesses and individuals.

Employee health plan enrollment falls, but may rise with health reform

Employer-sponsored insurance (ESI) eroded “significantly” in the last decade, although federal health reform is expected to reverse the decline for small employers, two studies say.

The percentage of non-elderly Americans who get their health insurance through their jobs declined to 61% in 2008/2009 from 69% nine years before, according to a report from the State Health Access Data Assistance Center at the University of Minnesota. Abo

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War/terror coverage for Middle Eastern risks

A joint initiative has been launched by Liberty International Underwriters (LIU) and Liberty Syndicates to provide coverage for war and terrorism in the Middle East.

The product will be distributed by LIU via its Middle Eastern brokers, with customer service offered by its Dubai International Financial Centre regional office.

Liberty Syndicates will provide enhanced reinsurance capacity and expertise from London.

Naturally, the Arab Spring and crackdown from certain regimes in the Middle East and North Africa has raised concerns regarding regional instability.

In a number of locations banks require back-to-back coverage as a prerequisite for financial support.

Eli Bouchaaya, MENA regional manager for LIU, stated that the firm was pleased to be supported by the underwriting expertise of the group’s Lloyd’s syndicate and said that the firm had worked to hard to ensure the product was provided by a rapid and seamless service.

The BBC has reported today that tens of thousands continue to protest against the Syrian Government, defying the military crackdown upon which the regime has embarked.

News posted: July 1, 2011

Calif. Court Limits Employer’s Liability in Acts by Employees

The California Supreme Court has confirmed a limitation on an employer’s potential tort liability for the acts of its employees, with a particular emphasis on employees operating motor vehicles in the course of their employment.

In Diaz v. Carcamo, the Court reversed a decision of the Court of Appeal, which allowed plaintiffs to pursue “alternative” tort claims against an employer, such as negligent hiring and retention — even after the employer admitted to “respondeat superior” liability. While the r

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Renting out your house for a short period

Before you ‘sign up’ to letting your home for a short period of time, such as a month during a special event or house swap, check with your insurer if sub-letting invalidates cover.

Short-term, one–off letting may have its attractions, particularly if you have a home that’s conveniently located for events such as: The Royal Wedding, Wimbledon, The Ryder Cup, The Olympics or The Edinburgh Festival.

The list is endless as the opportunities to make some money may be real, however, insurance is something that you need to think closely about.

Unfortunately, we can’t cover ‘one-off lets’ through our second home insurance.

Main residence home insurance

At Schofields we are specialist insurers of second homes and holiday homes, and it isn’t our place to advise you in detail regarding your standard owner-occupier cover that you have in place for your main residence.

However, what we can say is that typically:

• an owner-occupier household insurance policy may become invalid the moment you rent out your house (or part of it) for commercial reasons – even if that’s only for a week or two as a one-off;

• you will need special cover (including liability and theft) if you plan to rent out your main house for a very short period. Your existing insur

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Bollinger expands access in New Jersey, New York and Connecticut

A New Jersey-based insurance brokerage, Bollinger, has acquired another New Jersey-based company, offering it additional access into the Northeast.

Bollinger, based in Short Hills, N.J., said it has bought The Property and Casualty Group (PCG) of Cranford, N.J.

Financial terms were not disclosed. Fontana’s company will become Bollinger.

Founded in 1991 by Thomas K. F

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Hiscox estimates US tornado claims at £35m

In a trading update, Hiscox has announced that net claims arising from April and May tornadoes in the US will be in the region £35 million.

In addition, the international specialist insurer has responded to “considerable uncertainty” around the Japanese earthquake by reserving $150 million, in accordance with the upper-end of its modelling range.

With 2011 proving to be such an active year for catastrophes, the firm now has reserves in excess of £200 million for the year to date (2010: approximately £100 million at the half year).

Hiscox notes that in US catastrophe business, rates have increased by around 10% due to the cumulative effect of recent events, and the introduction of the RMS 11 risk model.

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