Ohio’s Supreme Court has ruled in the case of Ferrando v. Auto Owners that uninsured or underinsured motorist coverage (UM/UIM) may be claimed even in cases where there has been a length delay in notifying the insurer, and a settlement …
In a yearly review released today Munich Re calculates the overall economic losses from natural and man-made catastrophes in 2002 at a staggering $55 billion, compared to $35 billion last year. However, the world’s biggest reinsurer estimated that insured losses …
Surgeons in Scranton have issued a warning that they could effectively go on strike as early as January if something isn’t done to relieve the ever-increasing cost of medical malpractice insurance premiums in the state. According to a report from …
Farmers Insurance Group, L.A.’s largest private employer, announced a dual celebration for this New year’s Day – its 75th Anniversary and its 44th consecutive year as a participant in the Pasadena Tournament of Roses Parade. Farmers entry is a “Yellow …
Minnesota’s newly elected Republican Governor Tim Pawlenty has named Glenn Wilson, currently VP for U.S. Bank Home Mortgage, as the new head of the State’s Commerce Department, which exercises regulatory control over the insurance industry. Wilson, an experienced banker, is …
Japan’s Aioi Insurance Co. has filed a lawsuit in North Carolina against Fortress Re and its accounting firm, Deloitte & Touche LLP, alleging improper acts by the privately owned reinsurer’s directors and shareholders in regard to losses it suffered from …
Special Risk Insurance and Reinsurance Luxembourg S.A. (SRIR), established last March by Germany’s Allianz AG, several other European insurers and Bermuda’s XL Capital, offers property and business interruption coverage for terrorist related risks. It’s helping to fill the need for …
Stephen L. Way, Chairman and CEO of Houston’s HCC Insurance Holdings, announced that the Company had closed their recently announced acquisition of London-based Lloyd’s broker Dickson Manchester & Company Ltd. (See IJ Website-Southeast-Dec. 17) “DM is a market leader in …
A powerful blizzard roared through the Midwest and moved on into Pennsylvania, New York and New England over Christmas bringing record snowfalls for this time of year and blanketing a wide swath of the U.S. with a real “White Christmas.” …
California Department of Industrial Relations (CDIR) Acting Director Chuck Cake has ordered the state’s Self Insurers’ Security Fund to take over payment of Eel River Sawmill’s workers’ compensation claims following the company’s default on payment of benefits. According to the …
