National
Under writer
THE LEADER IN PROPERTY & CASUALTY NEWS
FEBRUARY 21/28, 2011
VOL. 115, NO. 7
$6.00
CARRIERS FLOOD
POLLUTION MARKET
What Agents Need To Know
Page 19
TOP STORIES OF THE WEEK
Obama’s Budget Brings
Foreign Taxes Into Focus
The Obama administration’s budget
proposal has reopened the debate over
taxing certain reinsurance premiums
ceded to foreign insurers by their
U.S. affiliates. E Page 6
Berkley: Following Reserve
Charge AIG Will Raise Prices
AIG’s $4.1 billion charge to bolster the
reserves of its property and casualty
unit, Chartis, means higher prices,
predicted William R. Berkley, CEO of
W.R. Berkley Corp. E Page 7
Egypt Quiet; Insurers Wary
Hosni Mubarak’s resignation as president of
Egypt and the subsequent military takeover
have brought a measure of stability to the
nation, but uncertainty about the future
and potential flashpoints throughout the
region have insurers casting a wary eye on
political risk coverage. E Page 8
Industry Backs N. Y.’s
No-Fault Reform Bill
The insurance industry is applauding the
introduction of a bill that could corral costs
related to fraud and abuse of New York’s
no-fault automobile insurance system.
Florida, too, is pushing for change.
E Page 8
Illustration by Dave Cutler/Corbis
FDIC SUITS START
D&O Claims Expected
To Mushroom
Page 24
