The Greater Philadelphia Chamber of Commerce has voiced its support for a bill introduced by Rep. Jim Greenwood (R-PA) that would limit pain and suffering awards in medical malpractice cases to $250,000. The Chamber has written to members of the …
Gregory V. Serio, the Superintendent of the New York State Insurance Department, has announced the “Top 10 list of worst cases of insurance fraud in New York State during 2002.” The “winners” were selected from more than 1,200 new cases …
inreon, the reinsurance online insurance platform, founded by Swiss Re and Munich Re, announced an expansion of its international operations in Japan, with the addition of two of the country’s largest P/C insurers – Sompo Japan and Fuji Fire & …
Germany’s Gerling Group has reportedly filed a request with the BAFin, the country’s financial services regulatory authorities, to transfer 200 million Euros ($221 million) to its reinsurance unit in order to increase its equity capital. The report from Dow Jones …
Borrowing a phrase from Britain’s Queen Elizabeth the Insurance Bureau of Canada labeled the year 2002 an “Anni horribiles” as it reported that the financial results for the country’s P/C insurers “plunged to a new low.” The IBC is the …
Three Miami residents were arrested on grand theft and fraud charges stemming from allegations that they created fraudulent vehicle accident reports and passed them off to various clinics that billed insurance companies for more than $90,000, according to the Florida …
The Texas Department of Insurance announced the state has joined into an agreement with the Midwest Zone States regarding continuing education (CE) reciprocity. With some exceptions, a course approved by a participating state will be accepted by other participating states …
The Dow Jones Newswire reported that several complaints have been filed in Texas district courts against Chubb Corp. that allege Chubb Indemnity and unaffiliated insurers conspired to conceal risks associated with asbestos exposure. Chubb Corp.’s Form 10-K, which was filed …
Conducting a study of the disparate impact of insurer use of credit scoring would be expensive and generate no corresponding benefit to consumers, according to the Alliance of American Insurers (AAI). A disparate impact study is extremely complicated and would …
With some regulators reportedly intent on removing personal lines regulatory modernization from their agenda, the National Association of Independent Insurers (NAII) offered to lead an industry effort to review personal auto rates and forms filing systems with the goal of …
