Some 165,000 patients of a Silicon Valley health insurer will be searching for new medical insurance in the coming months as the company is being shut down Dec. 31, according to an Associated Press report. Lifeguard Inc., which has insured …
In the wake of Farmers Insurance Group of Companies’ decision to quit the Texas homeowners market, Texas Insurance Commissioner Jose Montemayor released the following open letter to Farmers policyholders: Farmers’ decision to leave the homeowners insurance market in Texas is …
New York Gov. George Pataki has signed a bill (A.11821) to bring accounting standards for the state’s domestic insurers into compliance with the National Association of Insurance Commissioners’ (NAIC) standards used in every other state. “This legislation puts New York …
A U.S. District Court ruling in a federal class-action lawsuit challenging Allstate Insurance Company’s use of credit data in underwriting and rating policies should be reversed because the suit distorts the industry’s practice of credit-based insurance scoring, according to the …
New York Attorney General Eliot Spitzer and Insurance Superintendent Gergory Serio announced charges have been filed against 25 people allegedly involved in two auto insurance fraud rings operating in New York City. Charges against the individuals include grand larceny, conspiracy, …
The Coalition for Auto Insurance Competition (CAIC), an organization advocating reforms of New Jersey auto insurance laws, has begun launching television and newspaper ads in an effort to enlist consumer support for its statewide campaign. The coalition is urging passage …
The Hartford Financial Services Group announced the appointment of Brian Becker as senior vice president, director of corporate law, and corporate secretary. Becker will oversee the three groups that comprise the corporate law function: transactions, securities and capital markets, and …
Michigan’s Meadowbrook Insurance Group, Inc. announced that the Company has successfully executed a revised credit facility with its existing bank. The new agreement includes “a $20.0 million term loan and a revolving line of credit for up to $8.0 million,” …
Following a meeting between representatives from the Kansas Insurance Department and Farmers Insurance Co., Commissioner Kathleen Sebelius announced that the company had no plans to cease writing homeowners insurance in the State. Concerns arose following the company’s announcement that it …
Tropical storm Isidore came ashore in southern Louisiana around 1:00 a.m. this morning, hitting the New Orleans area with heavy rains and high winds, but so far causing only relatively minor damage. One small tornado was reported, and the National …
