Personal Lines

Treasury Secretary Tim Geithner told a congressional committee today he will ask Congress Thursday to okay a federal receiver for "systemically important" nonbank financial firms like American International Group.

Only one American sport utility vehicle secured a "good" evaluation in the new strength rating system that the Insurance Institute for Highway Safety has adopted in a push for a tougher standard from manufacturers.

The latest government Consumer Price Index figures show increases for components that impact accident, auto and home claims, the Insurance Information Institute said.

Lloyd's reported today that its 2008 profit plunged to $2.7 billion from $5.66 billion in 2007, but its chief executive said the amount was "a pretty good result," given the current financial market.

Westfield Group in Westfield, Ohio, announced that Ed Largent has been selected as chief administrative officer and Stuart Rosenberg as chief technology officer.

Insurers seeking business with the tech-savvy Generation Y group should consider contacting this entrepreneurial segment at an early age about group and commercial insurance, according to a consulting firm.

Dozens of insurance trade group members spent a day lobbying Texas legislators yesterday urging them to find a proper solution to bankroll the state's badly depleted windstorm pool.

Demand surge has little to do with economic factors after the storm and everything to do with quality and cost of claims settlements, said Anna Olsen, a researcher at the University of Colorado.