June 4
Let’s not boast, but…
In this issue of the Insurance Advocate, Steve Ruchman uses the word mensch which now possesses the universal meaning of “stand up guy”. This is not an expression new to insurance in these parts, given its provenance from the Yiddish quarters of New York. For many years, the insurance industry has been an unsung hero […]
Mensches
Lately, I’ve noticed a trend in advertising by direct writers. They’re focusing on the advantages of buying insurance from a local agent. Even that dreadful lizard has opened up local offices (albeit few and far between) so it can attract customers who seek local experts and compete with independent insurance agents. I’ve always said a […]
“A Billion Here, a Billion There, and Pretty Soon You're Talking Real Money."
(Attributed to Everett M. Dirksen, US Senator from Illinois, 1950-1969) Based on a very unscientific twoitem sample – the recent J.P. Morgan trading loss and the Executive Life of NY (ELNY) loss – the minimum point for media outrage apparently is $2 billion. How else can one explain the media attention to the $2 billion […]
Edmund Kelly Named President of AAIS; New Yorkers Among Leaders
Wheaton, Ill. Edmund J. Kelly of Boulder, Col. was recently chosen president of the American Association of Insurance Services (AAIS), an organization that develops policy forms and rating information used by more than 700 P/C companies throughout the U.S. Kelly’s appointment was announced by Paul Baiocchi, the longtime president of AAIS who will continue as […]
Surety Claims are "Insurance" for Purposes of Priority When Insurer Is In Rehabilitation
More than a decade ago, on October 10, 2001, Supreme Court, New York County (Lehner, J.) granted the application of the Superintendent of Financial Services (“the Superintendent”) to be appointed as rehabilitator (“Rehabilitator”) of Frontier Insurance Company (“Frontier”) pursuant to Article 74 of the Insurance Law (“Article 74”). In a Decision & Order dated July […]
Pollution, Certificates of Insurance, and Duty to Defend
Let’s look at some different points of view on three perennial liability insurance problems: Pollution, Certificates of Insurance, and Duty to Defend. Pollution May Not Mean Pollution “A rose is a rose is a rose,” but pollution is not always pollution. In the early 1970s, faced with enormous pollution liability claims arising from newly enacted […]
It’s The DEADLIEST Time of the Year!
So here we are Memorial Day… and all I keep hearing from those I know are, “Can you believe the summer is here already?” Quite frankly it felt like summer was here all winter, but this weekend means that it’s time to open the pool, power wash the deck, freshen up the flower beds, and […]
Willis D&O Dictionary Expands and Clarifies, as D&O Terms Dazzle and Defy We present a synopsis of the dictionary in this issue
Willis North America, the global broker has published its Directors and Officers Liability (D&O) Insurance Dictionary, offering firms a comprehensive overview of terms that are likely to be used in describing their D&O insurance and liability exposures. This Willis publication, updated in response to recent significant changes to the litigation environment facing executives and their […]
