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June 14-21, 2010

Cover Story

EPL Insurers Still Avoid Wage-&-Hour Coverage Grants For Large Employers

Fear of wage-and-hour claims is escalating among buyers and sellers of employment practices liability insurance, with sellers’ fears limiting EPLI solutions for small employers—and resulting in none at all for the largest ones, market participants report....

Opinion

Don’t Ask, Don’t Tell?

Foreshadowing Federal Insurance Rate Regulation

News

No Turn Without AIG Price Leadership, Carrier Exec Says

Current market conditions may be the “new normal”—lasting for several years— industry leaders predicted recently, with one attributing the continued softness to the absence of American International Group’s historical price leadership....

Fed Preemption Authority Debate Stalls Financial Reform Compromise

Final action on the insurance section of financial services reform legislation has been delayed as conferees work through an impasse over a federal insurance office’s scope of authority in international matters....

Insurer, Agents Groups Slam $6B Proposed Cuts In Crop Insurance Program

Agent associations joined the National Crop Insurance Services in criticizing the Obama administration’s decision to cut the federal crop insurance program by $6 billion over the next 10 years....

FEMA Says NFIP To Cover Hurricane-Driven Oil Damage

The National Flood Insurance Program will pay claims for damage to homes and contents from oil driven ashore during hurricanes, its officials announced earlier this month....

Foreign Tax Bill Likely, But ‘A Bad Idea,’ Validus CEO Says

Proposed legislation denying tax deductions for reinsurance premiums paid to offshore affiliates will likely pass through Congress, a Bermuda executive predicted recently, but he criticized the measure as a restriction of free trade....

Agency Award Entries Due July 1

Independent agencies have until July 1 to hand in their entries for the 2010 Commercial Insurance Agency of the Year Award program, run by National Underwriter and American Agent & Broker....

Market Report

Employment Practice Issues Surface As Immigration Policy Debate Rages

If the U.S. Immigration and Customs Enforcement opened a costly investigation of your business and employment practices, would the legal costs be covered under your existing employment practices liability insurance policy? ...

Alligator Risk Tops List Of Weirdest Claims

Claims never seem to be routine when animals are involved. ...

Bermuda Braced For More Transparency Calls In Wake Of Financial Services Crisis

The financial crisis has put the heat on Bermuda to increase transparency and supervision over captive formations, as the domicile works to attract new middle-market participants to maintain growth despite a soft commercial insurance market....