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The Obama administration's plans to seek legislation giving it the authority to take over a troubled non-bank financial services company like an insurer is a move to "usurp" the state regulatory and guaranty fund system, an industry lawyer said today.

The market has been buzzing about AIG's insurers alleged under-pricing, but two officials gave the carrier a clean bill of health--of sorts. Did they miss the boat, wonders NU Editor In Chief Sam Friedman in his blog at www.NUSamSoapbox.com.

Liberty International Underwriters working in conjunction with Five Star Specialty Programs, has created an insurance program that gives non profit organizations a safety net to handle unforeseen risk. The Five Star Nonprofit Executive Advantage

AccuWeather.com Chief Long-Range and Hurricane Forecaster Joe Bastardi has released a preliminary forecast that suggests fewer landfalls in the United States as well as fewer named storms in the 2009 hurricane season compared to that of last year.

Standard & Poor's Ratings Services, citing reduced capital levels, said yesterday that it has revised its outlook on Berkshire Hathaway Inc. to negative from stable.

J.D. Power and Assocs. made public the results of its inaugural 2009 Insurance Agency Satisfaction Study. The study is used to gauge the contentment of independent insurance agents and agency staff with the companies that they represent.Agent

Thoits Insurance announced the promotion of Paul Saich to CEO. Saich will be replacing Don Way who will remain as Chairman of the Board. Saich has been with the company since 1996, most recently serving as executive vice president of sales. Dean

American Collectors Insurance began a new program that includes lower rates for street rods, customs cars and modified vehicles. American Collectors Insurance, a provider for collector-vehicle and collectibles insurance offers its products