Insurers’ use of credit-based insurance scores benefits most consumers because it makes insurance available to more consumers, at a lower cost according to the National Association of Independent Insurers (NAII). NAII Counsel Ann Weber urged the state House Insurance Committee …
Inreon, the Internet reinsurance trading organization, announced that CEO Rob Bredahl is to leave the company at the end of March to pursue other opportunities. Inreon was founded by Swiss Re and Munich Re to provide insurers, brokers and reinsurers …
Bermuda’s PXRE Group Ltd. reported that its net income in the fourth quarter increased 56 percent to $8.342 million from $5.335 million for the same period in 2000. Revenues rose 18 percent to $59.964 million, while operating earnings were $8.484 …
In a move which took the insurance world by surprise, Bermuda-based Overseas Partners Ltd. announced its decision to stop writing new business immediately, to place its Bermuda operations into “an orderly runoff,” and to transfer its OPCat business to RenaissanceRe. …
The New York State Insurance Department’s web site now lists a full set of guidelines and requirements for insurers to use the State’s electronic form filing system (SERFF). The Table of Contents sets out the following sections: -Section I Regarding …
Pennsylvania’s House of Representatives voted by a 148-51 margin to approve additional provisions to the Senate’s version of the medical malpractice reform bill, delaying passage of any measure until a compromise is reached. Representatives of the State’s doctors, hospitals and …
California-based Zenith National Insurance Corp. reported a net loss for the year ended Dec. 31, 2001 of $23.8 million, or $1.35 per share, compared to a net loss for the year ended Dec. 31, 2000 of $46.8 million, or $2.72 …
Hawaii Insurance Commissioner Wayne Metcalf announced that the National Council on Compensation Insurance (NCCI) has received approval for a 4.6 percent overall increase in workers’ comp insurance loss costs in Hawaii. The NCCI originally filed for a 9.1 percent increase, …
The Independent Insurance Agents of America (IIAA) continues to support state insurance regulation and will be working closely with the National Association of Insurance Commissioners (NAIC) and other allies who support state regulation to modernize and streamline industry oversight, IIAA …
U.S. airlines have gathered together to form their own insurance company in efforts to cover their extensive liability, according to Reuters. The U.S. government arranged to take on the responsibility of insuring the airlines after the Sept. 11 attacks, when …
