Insurers praised the recent decision by the National Association of Insurance Commissioners’ (NAIC) Functional Regulation Working Group to file an amicus brief against the Office of Comptroller of the Currency’s (OCC) opinion preempting state regulation of insurance on bank sales …
The governors of Kansas, Missouri, and Oklahoma requested almost $200 million in federal disaster aid to help recovery efforts after a January storm. Kansas and Oklahoma are seeking full federal relief; Missouri wants 90 percent of relief funds to come …
Standard & Poor’s announced that its single-‘A’ insurer financial strength rating on the Lloyd’s insurance market will remain on CreditWatch with negative implications, but said it “expected that the CreditWatch placement will be resolved by the end of April 2002.” …
Germany’s Allianz, along with Swiss Re and Zurich Financial Services, plans to establish a terrorist insurance unit to cover risks in Europe that since Sept. 11 have either been unavailable or prohibitively expensive. According to a report in the Financial …
Delegates to Bermuda’s bi-annual insurance conference, which opened yesterday, had a full plate of information to digest. The first international meeting since the Sept. 11 attacks focused not only on the overall threat of terrorist coverage, but also weighed the …
The MIIX Group, Inc., based in Lawrenceville NJ, a leading writer of medical malpractice liability insurance, announced that it will delay release of its 2001 financial results and the conference calls previously scheduled for February 20 and 21, until the …
Judge William Wetzel of the New York Supreme Court has upheld Regulation 68, which shortens the time period for filing injury claims in auto accident cases in the state and addresses one of the major auto insurance fraud factors facing …
In a show of solidarity with the California Department of Insurance, the Washington Office of the Insurance Commissioner has filed an amicus brief in the United States Court of Appeals for the Ninth Circuit in support of California’s legally besieged …
The California workers’ compensation reform bill signed into law Feb. 15 by Gov. Gray Davis (D) makes significant strides toward improving the safety of the state’s workers, according to the Alliance of American Insurers. “Enacting AB 749 makes California the …
Fitch has downgraded several ratings of The Chubb Corporation (Chubb) and removed the ratings from Rating Watch Negative. The actions include lowering Chubb’s senior debt rating to “AA-” from “AA” and the insurer financial strength (IFS) ratings of Chubb’s insurance …
