Liam E. McGee, chairman, president and CEO of Hartford Financial.

SEC Questions $1.5 Billion Unrealized Loss in Hartford Financial Filing In newly disclosed correspondence with the U.S. Securities and Exchange Commission, Hartford Life Insurance Co. was questioned about an unrealized loss of $1.5 billion in securities on its books. 7/28/2010 12:21:57 PM » Full Story

Mark Hoban, financial secretary to U.K. Treasury.

Details Uncertain for Equitable Life Compensation Pledge The announcement by the U.K. government that it will compensate victims of failed mutual life insurer Equitable Life Assurance Society has added yet another measure of uncertainty to the lengthy controversy surrounding the life insurer. 7/28/2010 9:52:16 AM » Full Story

John Doak collected 39.1% of the GOP primary vote for Oklahoma commissioner.

Former Commissioner, Industry Vet Head to Oklahoma Run-off Former Oklahoma Insurance Commissioner John Crawford and industry veteran John Doak will face an Aug. 24 run-off election for the Republican nomination for insurance commissioner after taking the top two places in Tuesday's primary. The winner will face incumbent Democrat Kim Holland in the general election. 7/28/2010 12:36:42 PM » Full Story

Asia/Pacific

• Hong Kong Regulator Investigates Customer Data Handling in Cigna Marketing Arrangement: Regulators are examining a customer information sharing arrangement between insurer Cigna and smart card payment system Octopus used for cross-selling insurance products in Hong Kong, which has raised concerns about personal data privacy protection. » Full Story

Auto

• Farmers Agrees to $100 Million in Rebates, Rate Cuts for California Drivers: Farmers Insurance will pay out approximately $32 million in premium rebates as part of an agreement with California regulators that will also lower automobile insurance rates by an average of 14.5%. » Full Story

Commercial Coverage

• Judge's Ruling Gives Magna Carta Exit on Problematic 2005 Acquisition: A federal judge has cleared a path for Magna Carta Cos. to walk away from its lengthy and litigious acquisition of a specialized niche underwriter of minority-owned businesses in California. » Full Story

Europe

• Brit Holdings Posts Six-Month Profit, Confirms Cash Offer From Apollo Global: Netherlands-based insurer and reinsurer Brit Insurance Holdings N.V. has announced an after-tax profit of 67.4 million pounds (80.5 million euros) for the first six months of 2010, up from a loss of 6.3 million pounds in the previous year. » Full Story

Health

• As Second-Quarter Net Jumps, Aetna Contracts With CVS Caremark for 12 Years: As Aetna Inc. posted a 42% increase in second-quarter profit, the health insurer said it entered a 12-year contract with CVS Caremark, which will provide pharmacy benefit management services to 9.7 million of Aetna's pharmacy members. » Full Story

Life Insurance

• California Court Upholds Poizner Rejection of Deal for Executive Life: The California Department of Insurance won a court victory in the nearly 20-year-old saga of the fate of the former Executive Life Insurance Co. when a superior court judge upheld its denial of a deal to purchase the insurer from a foreign entity embroiled in a multibillion lawsuit brought by the department. » Full Story

Ratings

• A.M. Best Assigns Ratings to Old Line Bank and Old Line Bancshares, Inc.: A.M. Best Co. has assigned a financial strength rating of “a-” and an issuer credit rating (ICR) of “a-” to Old Line Bank. A.M. Best also has assigned an ICR of “bbb+” to Old Line Bancshares, Inc. (both domiciled in Bowie, MD). The outlook for all ratings is stable. » Full Story

State Regulation

• New Mexico, Hawaii Appoint New Insurance Commissioners: After a series of interim commissioners, the New Mexico Public Regulation Commission has chosen John G. Franchini to permanently take over as superintendent of insurance. And in the same week, Hawaii has selected a commissioner for the state's Department of Commerce & Consumer Affairs Insurance Division, choosing Gordon Ito to replace predecessor J.P. Schmidt, who left last month to join a law firm. » Full Story

A.M. Best Reports

• Best’s Review to Host Webinar Examining The State of the Global Reinsurance Market: A.M. Best Co., publisher of Best’s Review magazine, will present a webinar titled, “The State of the Global Reinsurance Market,” on Wednesday, August 25, from 11:00 a.m. to 12:00 p.m. EDT. Registration for the event is free online at http://www.ambest.com/reinsurance10/index.html. » Full Story

• Insurance Marketing Podcast Examines Rebranding at the AICPCU/IIA: The latest episode of the Insurance Marketing Podcast features an interview with Steve Ryan, head of communications at the American Institute for Chartered Property Casualty Underwriters and Insurance Institute of America. Ryan discusses the organization’s recently completed rebranding project, and will explore the topic further as a featured speaker at A.M. Best Company’s fifth annual Insurance Marketing and Advertising Summit, set for November 4, 2010, at the Hyatt Regency Jersey City. » Full Story