September 2020

Louisiana Surplus Line Reporter

We are insurance industry professionals working
and writing about this business for over 40 years.

Articles

Estimates of Onshore Damage from Laura are $4-$12 Billion

Estimates of Onshore Damage from Laura are $4-$12 Billion

Early estimates of onshore property damage from Hurricane Laura by various modelers range from about $4 billion to $12 billion. Those estimates came in from CoreLogic, Karen Clark and Company and AIR. Several days later, risk modeler RMS estimated that onshore and...

LDI Issues C&D Orders to Two Producers

LDI Issues C&D Orders to Two Producers

Commissioner of Insurance Jim Donelon issued a Cease and Desist Order to Monroe insurance producer Jerry Dool for including false information on insurance applications, altering or forging names on checks and electronic transfer forms, and receiving commissions based...

Williams Takes Top Slot at PIA of Louisiana

Williams Takes Top Slot at PIA of Louisiana

The coronavirus pandemic caused the PIA Convention scheduled for July to be canceled, then Hurricane Laura caused the virtual convention that was scheduled in August to be canceled, and the hurricane caused massive destruction to Southwestern Louisiana, but that has...

Donelon Reviews Homeowners Policies

Donelon Reviews Homeowners Policies

The Louisiana Department of Insurance reviewed homeowners policies for Lake Charles residents relative to additional living expenses, LDI said in a news release issued Sept. 14.The review came about after Mayor Nic Hunter of Lake Charles contacted Commissioner of...

LCPIC Board Approves Sending Commercial Filing to LDI

LCPIC Board Approves Sending Commercial Filing to LDI

At its Sept. 10 meeting, the Louisiana Citizens Property Insurance Corp.’s (LCPIC) board of directors voted to approve sending the commercial property rate filing, an overall increase, to the Department of Insurance for approval. Also, because LCPIC’s board has not...

New Orleans attorney Named as Defendant in Federal RICO Suit

New Orleans attorney Named as Defendant in Federal RICO Suit

A New Orleans attorney, who was referred to only as Attorney A in a federal indictment, and two of the players, who recently pled guilty to staging a series of automobile accidents in order to rip-off insurance companies through fraudulent lawsuits, have been sued in...

Consumer Advocate Proposes Model Law on Discrimination

Consumer Advocate Proposes Model Law on Discrimination

Longtime insurance consumer advocate Birny Birnbaum, director of the Center for Economic Justice, proposed a model law to the National Association of Insurance Commissioners during an online meeting of the Consumer Liaison Committee.Birnbaum is one of the people with...

AM Best’s Outlook for Reinsurance Sector is Stable

AM Best’s Outlook for Reinsurance Sector is Stable

While other rating agencies continue to rate the global reinsurance market’s outlook as negative, at the end of 2018, AM Best changed its view of the reinsurance market segment to stable from the negative outlook it had held between 2014 and 2018. As Best sees it,...

QBE Announced the Departure of CEO After Complaint Lodged

QBE Announced the Departure of CEO After Complaint Lodged

Australia-headquartered QBE Insurance Group has announced that its CEO, Pat Regan, is to leave the company following a complaint from a female employee and the outcome of a subsequent external investigation into workplace communications, several news organizations...

Lloyd’s Announces Half-Year Losses, Coronavirus Claims

Lloyd’s Announces Half-Year Losses, Coronavirus Claims

London ViewsBy LEN WILKINSLondon CorrespondentLloyd’s has announced losses of $0.52 billion for the half year to date. The market can live with that but will be worried about Lloyd’s management’s expectation that the market stands to pay out up to $6.5 billion for...

Insurance Serves Policyholders When There is ‘No More’

Insurance Serves Policyholders When There is ‘No More’

Today is September 11, 2020

The 19th anniversary of what we now call – 9 /11. The TV is playing in the background, reliving the terror of that day. It is the tragedy– no matter where you lived–that reshaped our world. We will…

News In Brief

People

People

Stonetrust Commercial Insurance Company announced Sept. 2 the hiring of Jeff Skaggs as senior vice president of underwriting and marketing; Skaggs Boniol Dawn Boniol as manager of compliance, quality control and claims support, and Richard Perkins as loss prevention...

Meetings & Education

The Louisiana Claims Association will hold a virtual conference in two sessions, one Oct. 21-22 and the other Nov. 18-19. The 2020 theme of the virtual conference is Focus on Success. Each session gives attendees the opportunity to earn six hours of continuing...

Mergers & Acquisitions

Mergers & Acquisitions

Chicago-headquartered Hub International Limited announced Sept. 4 that it has acquired the assets of Hollis Companies LLC and The Employee Benefits Corporation. Hub International announced Sept. 9 that it has acquired the assets of Todd and Associates LLC, an...

Financial

Financial

HomeBuilders Self Insurers Fund has surpassed $100 million in dividend payments to its qualifying members. “As a self-insured fund, nothing speaks more to our strength and stability than our ability to distribute dividends to our members year after year,” said Chris...