Massachusetts Attorney General Thomas Reilly joined the State Rating Bureau yesterday in urging state insurance regulators to cut personal auto insurance rates. The AG’s office called for a 10 percent decrease. The State Rating Bureau has suggested a 12.9 percent …
On Nov. 20, Attorney General Bill Lockyer, joined by Insurance Commissioner Harry Low, asked a court to void controversial earthquake settlements that allowed insurance companies to donate to foundations rather than face fines for mishandling claims stemming from the 1994 …
Effective Jan. 1, 2001, rental car companies that offer or sell insurance must be licensed by the California Department of Insurance (CDI) as an insurance agent, broker or as a rental car agent. The CDI has added a “Rental Car …
The American Insurance Association testified on Nov. 20 at the National Association of Insurance Commissioners (NAIC) Speed to Market Working Group meeting in Kansas City, stressing the need for a market-based approach to regulation. The working group formed subgroups during …
A growing number of insurance companies operating in Minnesota are using credit-rating scores to establish premiums for car drivers and homeowners. This means that in certain situations people with poor credit histories are being charged more for insurance policies than …
The Ohio House of Representatives approved legislation last week that would provide the Ohio Department of Insurance with an additional tool to regulate the financial solvency of Health Insuring Corporations and Health Maintenance Organizations. House Bill 714, sponsored by Representative …
French insurance and financial services giant AXA announced that it is launching the sale of $1.5 billion worth of subordinated notes “to provide AXA with resources to finance its growth.” The securities, which are registered with the SEC, go on …
After a seven-month dialogue Lloyd’s, the International Underwriting Association and the Lloyd’s Insurance Brokers’ Committee have reached agreement on basic reforms of the way business is to be conducted in the London market. LMP 2001, London Market Principles 2001, sets …
Insurance Commissioner Susan F. Cogswell approved two workers’ compensation filings submitted by the National Council on Compensation Insurance, both effective Jan. 1, 2001. The voluntary market advisory loss costs (loss portion of a rate) will remain level with no overall …
Q. We have a company that says they are not going to use the benchmark rates approved in June for residential property. Can they do that and how do the benchmarks work? A. If it is a Texas Lloyds company, …
