If you find yourself lost as we wander from NOLA way up to the land of Faulker, worry not – this is not about changing the facts to fit the picture, it’s more of a sight-seeing trip to see if the facts fit the frame.
Among the comments made to the Perdiago update Sop posted today, were several about Perdiago’s allegations about Allstate and Robert Wooley, the former Louisiana insurance Commission who joined Adams & Reese. Take note of section 73 and these two sentences:
Notably absent from Wooley’s list ofpotential clients in his business plan was a “big fish” that was not already a client of the firm. The firm already represented State Farm, the largest homeowners’ insurer in the state. Continue reading “Grab your hiking boots – time to wander from Perdigao v Adams & Reese to USA v Scruggs”
The National Underwriter is reporting that a Travelers Risk Management VP proposed Federal reinsurance paid for by insurers. Remember folks, when an individual asks the government for help it is called a subsidy, when an industry goes with it’s hand out it is called good policy. At least potential solutions to the coastal wind insurance crisis are being discussed Nowdy.
A Travelers executive speaking at a rating agency conference last week said his company’s proposal to deal with insurance issues arising after natural catastrophes now embraces the concept of a federal reinsurance program.
Distinguishing the concept of reinsurance from proposals for a federal backstop, Eric Nelson, vice president of risk management for Travelers Personal Insurance and Small Business in Hartford, said under the Travelers concept insurers would pay the premium for reinsurance coverage of extreme catastrophic events. Continue reading “I Noticed This On Our National Underwriter RSS Feed”