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The Underwriter's Insider - Vol 6 Issue 1


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---- BREAKING NEWS -----

Does Florida insurance law violate free speech rules?...A Florida law that makes it illegal for insurance companies and agents to mention the Florida Insurance Guaranty Association may violate free speech laws. ...

• Stocks Slide as Banks Fall Sharply... Stocks tumbled to late November levels Thursday, led by banks, as investors worried the stimulus plan wouldn't be enough to help the economy.

• REID-PELOSI STIMULUS SMACKDOWN: 'SHE WENT THROUGH THE ROOF'... According to a half dozen Congressional aides and members, Reid went before the cameras Wednesday to announce a stimulus deal before Pelosi had agreed on all the details of school construction financing.

• Dodd Says in Hearing Credit Card Companies Too Often Are Gouging Customers ...U.S. Senate Banking Committee Chairman Christopher Dodd proposed new limits on fees and charges for consumer credit cards at a hearing on industry practices.

• Louisiana Lowest in Seat-Belt Use, Traffic Safety Commission Says...The National Highway Traffic and Safety Commission says Louisiana drivers are less likely to buckle up than drivers in any other state that has primary ...

GENE THERAPY OFFERS HOPE OF CURE FOR HIV...The remarkable case gives new impetus to the development of gene therapy for HIV which could ultimately replace the need for expensive and toxic antiretroviral drugs. Instead of taking drugs for life, HIV sufferers might instead have a one-off treatment that would leave them virus-free.

• 1 in 4 Ala. motorists uninsured...In 2004, Alabama ranked second nationally at 25 percent, according to the Insurance Research Council. It's projected that about one in six drivers, ...

SC lawyers say cops making arrests in Phelps case...Police in the South Carolina county where Michael Phelps was photographed smoking from a marijuana pipe have been arresting people as they seek to make a case

Florida's underfunded CAT program has officials worried...State Insurance Commissioner Kevin McCarty and other Florida officials are scrambling to find a way to fund the state's hurricane catastrophe program, ...

• President Obama preselected reporters to ask questions at primetime press briefing... The problem wasn't the lighting in the East Room. The President was running down a list of reporters preselected to ask questions. The White House had decided in advance who would be allowed to question the President and who was left out.

• Bad economy increases uninsured motorists...New Mexico had the highest rate at 29%, Mississippi 28%, Alabama 26% and Oklahoma 24%. The states with the lowest rates of uninsured drivers in 2007 are ...

Retail Sales Unexpectedly Climb 1%, First Increase in Seven Months... Sales at U.S. retailers unexpectedly halted a record six-month slide in January, an advance that may not be sustained as job losses climb.

  1. • Oxendine Challenges Fellow State Leaders to Take a Pay Cut...Georgia Insurance Commissioner John Oxendine took a voluntary five percent pay cut back in the fall... Now he's challenged fellow leaders to do the same by ...

• Congress Moves Toward Passage of $789 Billion Economic Stimulus Package ...An economic stimulus bill is headed for passage in Congress by the end of this week after lawmakers agreed on a $789 billion plan that aims to stem the recession through a mix of government spending and tax cuts.

• Oxendine says put family values first; Opposes attempt to legalize ......Insurance Commissioner John Oxendine, a 2010 candidate for the GOP nomination for Governor, today announced he will oppose any legislative attempts to ...

• AIG Financial Products Unit Investigated by U.K.'s Serious Fraud Office ...American International Group Inc.’s financial products unit, which brought the firm to the verge of collapse with bad bets on credit-default swaps, is being investigated by U.K. regulators for possible criminal conduct.

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Obama Drive to Change Washington's Partisan Climate Draws Few Republicans ...In her 30 years in Washington, no president had invited Maine Senator Olympia Snowe to the White House for a private meeting -- until Democrat Barack Obama asked her over last week.

• Marsh & McLennan’s Duperreault Sees Insurance Price Increases... Marsh & McLennan Cos., the second- biggest insurance broker, said carriers around the world are demanding higher rates on some lines of ...

• Obama Administration Backs Bush's Policy Favoring Secrecy in Terror Cases ...The Obama administration is backing an anti-terrorism policy of President George W. Bush, urging a federal appeals court to throw out a lawsuit that accuses a Boeing Co. unit of helping the CIA fly suspects overseas to be tortured.

• Insurance agent sentenced in fraud case... Fargo An insurance agent accused of stealing millions of dollars from clients in an investment scheme has been sentenced to eight years in prison. ...

Give insurers incentives to operate in Florida...So, what do we need in Florida? More competing AM Best-rated insurance companies? Or do we try to rid the state of carriers and rely on Citizens and the Cat ...

  1. • Daily Aspirin Use May Reduce Risk of Polyps That Signal Colorectal Cancer ...A once-daily dose of aspirin could reduce the risk of developing polyps that can be the precursors to colorectal cancer, researchers said.

• Women leaders recognize insurance broker...Insurance broker Brown & Brown is one of 16 Florida public companies singled out recently for its efforts in gender ...

•Adoring fans question Obama at meeting... who lose their jobs pay for health insurance. It calls for $1000 in tax relief for middle class workers, including 6.9 million families in Florida. ...

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Crude Oil Falls to Three-Week Low in New York After U.S. Inventories Gain ...Crude oil fell to a three-week low in New York after a U.S. government report yesterday showed a bigger-than-expected increase in inventories.

• National Underwriter Property & Casualty...Florida Insurance Commissioner Kevin McCarty tried to lobby Congress today for money to make up an $18.5 billion shortfall in the state’s Hurricane Catastrophe Fund and was hit with criticism from a conservative think tank. ...

• Amazon drops rape simulation game...A game that involves the player stalking victims and then raping them in a virtual world was being offered for sale by online retailer Amazon.com.

• Opposition mounts against N. Carolina insurance rate increases...Higher homeowner and wind and hail insurance rates for coastal North Carolina counties are proving to be a unifying cause for action ...

Lawyers: SC officers making arrests in Phelps case...Authorities in the South Carolina county where Michael Phelps was photographed smoking from a marijuana pipe have been arresting people as they seek to make a case against the superstar swimmer, lawyers for two arrested people said Thursday

• WHO GETS WHAT: Stimulus to pad pockets of jobless...Computer systems in New York, North Carolina and Ohio have been shut down by technical glitches and heavy volume, and labor officials in other states are ...

• Joaquin's Letterman appearance is instant classic...Joaquin Phoenix's interview with David Letterman started off odd and ended in full-blown weirdness, instantly joining Farrah Fawcett on the list of late-night appearances memorable for the wrong way.

• Aetna 4Q profit slides on heavy investment losses...Managed-care company Aetna Inc. said Thursday its fourth-quarter profit tumbled 57 percent, mainly due to large investment losses and a severance charge for job cuts. But the Hartford,

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