intheknow

>> Ward Group recognizes 2007’s top performing insurers…Each year, Ward Group analyzes the financial performance of more than 2,700 U.S. property/casualty insurance companies, and identifies the top performers, known as the Ward’s 50. Each Ward’s 50 company has passed all safety and consistency screens and achieved superior performance during the five years analyzed. Fourteen companies named on this year’s list are members of NAMIC. To see the entire list of Ward’s 50 for 2007, visit www.wardinc.com/wards50/Wards50_PC_article.pdf

>> Aon Corporation named best in categories…Aon Corporation has been named insurance industry’s “best” in the categories of insurance broker, employee benefits consulting firm, and reinsurance intermediary by readers of Business Insurance. Readers selected Aon as the industry leader in service, value, quality, and innovation.

The results were published in the Aug. 20 edition of the trade publication that covers insurance, reinsurance, risk management, and human capital consulting.

>> Ohio insurance company acquired by Liberty Mutual…The insurance departments in Ohio and Indiana agreed in August to the acquisition of the Ohio Casualty Insurance Company by Liberty Mutual Insurance Company. Ohio Casualty shareholders approved the deal on Aug. 8, under which they will be paid $44 per share in cash. The transaction has been valued at approximately $2.7 billion.

Liberty Mutual Group offers a variety of insurance products and services, including personal automobile, homeowners, workers compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, assumed reinsurance, fire, and surety.

>> Florida approves assess hurricane risk assessment…A state panel approved in August a controversial catastrophe model to be used in setting Florida’s homeowners insurance rates. However, the insurance industry has cried “foul” and suggested that the model may have been manipulated to discount hurricane risk and hold down rates.

The Florida International University created the model that was intended to provide checks and balances on private risk models that insurers cited in applying for rate increases.

>> RAA to host educational seminar in San Francisco…The Reinsurance Association of America will be conducting its first educational seminar on the West Coast. The seminar will be held Oct. 22-24 in San Francisco, and is designed to provide an understanding of the purpose and structure of reinsurance, guiding attendees through a reinsurance transaction and its impact on the bottom line of an insurance company.

The program will be property/casualty reinsurance and is targeted to junior- and mid-level buyers and sellers of property/casualty reinsurance and financial professionals from securities firms, banks, and state regulatory agencies.

>> Liberty Mutual recognized for outstanding customer service…Liberty Mutual has been recognized for call center operation customer satisfaction excellence under the J.D. Power and Associates’ Certified Call Center Program.

Located in Mishawaka, Ind., New Castle, Pa., Phoenix, Ariz., and Tampa, Fla., Liberty Mutuals’ call centers handle approximately 5.4 million calls from auto and home insurance customers each year. Before receiving the distinction, Liberty Mutual’s call center operations successfully passed a detailed audit of its recruiting, training, employee incentives, management roles and responsibilities, and quality assurance capabilities.

J.D. Power and Associates conducted a random survey of Liberty Mutual customers who recently contacted its call centers.

>> Aon Re Global names top execs…Aon Corporation named in August Michael D. O’Halleran as executive chairman and Ted Devine as chief executive officer of Aon Re Global.

O’Halleran is a 21-year Aon veteran and will shift from his dual role as chairman and CEO of ARG to focus on the duties of executive chairman. Devine joined Aon in May 2005 as chief operating officer of Aon Risk Services America and head of global strategy.

>> Columbia Mutual Insurance Company/Insurance Group names new board member…Steve Standridge has been elected to serve on the board of directors for Columbia Mutual Insurance Company and Columbia Insurance Group, Inc.

Posted: Tuesday, October 16, 2007 12:00:00 AM. Modified: Tuesday, October 16, 2007 4:21:06 PM.

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We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.