National Association of Insurance Commissioners’ (NAIC) draft language on self-audit legislation will help insurers comply with state laws and regulations without opening their doors to frivolous lawsuits or burdensome sanctions, according to the National Association of Independent Insurers (NAII). NAII …
NAII Senior Vice President for Government Relations Carl Parks has characterized the Insurance Industry Modernization and Consumer Protection Act introduced by Rep. John LaFalce (D-N.Y.), the ranking Democrat on the House Financial Services Committee, as a proposal that does nothing …
Visibillity Inc., a Chicago-based provider of collaborative litigation management solutions for property/casualty insurance companies, announced that Argonaut Insurance Company, a subsidiary of Argonaut Group Inc., has selected Visibillity as its corporate solution to improve litigation management and enhance relationships with …
The Minnesota House Commerce committee has approved legislation that would prohibit insurers from canceling or non-renewing a consumer based only on their credit-based insurance score. The bill (HF 2492) originally banned the use of insurance scoring but was amended in …
Inreon, the online reinsurance trading platform, has expanded into the Asian market with the opening of a new office in Hong Kong. It hopes to have its Internet platform ready to go in time for renewals on April 1. “A …
Scandinavian Re, the reinsurance unit of Sirius International, the insurance subsidiary of the global electrical engineering giant ABB, announced that it will cease writing new business, and will also stop writing renewals in the wake of substantial losses and recent …
Bermuda-based IPC Holdings followed an emerging industry pattern with its announcement that gross premiums written in the fourth quarter increased 42.2 percent to $7.389 million and operating income grew at the same rate to $25.8 million, but despite the increases …
NYMAGIC, Inc., an insurance holding company specializing in ocean and inland marine and aircraft coverage, announced that “total revenues for the fourth quarter ended December 31, 2001 increased 21% to $39.5 million from $32.8 million for the fourth quarter of …
Gary T. Kendellen, Regional Director of the Newark, New Jersey Region of the National Labor Relations Board, has approved the final arrangements on procedures for conducting a union representation election among over 2,000 sales agents of Newark-based Prudential Insurance Company. …
The New Hampshire Insurance Department has validated the opposition of the American Insurance Association to a proposal to require prior written approval from consumers before insurers can use credit scoring by withdrawing and rewriting the regulation. The first draft of …
