Fitch Ratings placed the “AA” long-term issuer rating of GE Global Insurance Holdings Corp. (GE Global) and the “AAA” insurer financial strength rating of Employers Reinsurance Corp. (ERC), GE Global’s main operating subsidiary, on rating watch negative. Fitch believes that …
A.M. Best Co. affirmed the financial strength rating of “A-” (Excellent) of the Kemper Insurance Companies, Long Grove, Ill., with a stable outlook and removed the rating from under review with negative implications. The action applies to the group’s three …
The Texas state Supreme Court placed limits on health care providers’ medical malpractice exposure under the Medical Liability and Insurance Act by subjecting prejudgment interest to a cap on damages. A.M. Best reported that the court ruled 6-3 in Columbia …
Wewoka, Okla.-based insurance agent, Julius Rice, had his license suspended following allegations that his agency did not forward insurance applications to carriers whose policies he sold to consumers. According to Oklahoma Insurance Commissioner Carroll Fisher, one insurance company for which …
The Texas Medical Association (TMA) and the Texas AFL-CIO have filed a lawsuit to prevent adoption of new workers’ compensation guidelines by the Texas Workers Compensation Commission (TWCC). The Houston Chronicle reports that the groups believe the new workers’ comp …
Citing increasing medical and repair costs, a weak stock market, and the effects of state laws enacted in 1998, Louisiana insurance regulators anticipate a rise in auto rates in their state. The Times-Picayune reports that State Farm, which writes some …
Texas Democrats, claiming Republicans are more sympathetic to insurance companies than to consumers, plan to pursue regulatory reforms to curb the rise of insurance premiums. According to the Fort Worth Star-Telegram, Texas House Rep. Lon Burnham, D-Fort Worth, expects Republicans …
The surplus lines industry is traditionally thought of as a safety, or relief valve for the insurance industry as a whole. But what does that mean? To find out, read on, because what we have here is everything you ever …
The U.S. insurance industry must have breathed a collective sigh of relief June 18, when the Senate approved terrorism insurance backstop legislation after months of debate and delay. But now legislators must reconcile the bill, the Terrorism Risk Insurance Act …
The Texas Department of Insurance reports one of every three Texas homeowner claims last year were due to water damage, and the average cost per water claim was $8,600—about twice the national average. Luckily, homeowners can help prevent water damage …
