July 17, 2003
Belfor, a provider in integrated disaster recovery and restoration services, announced the opening of an office in Phoenix. Belfor offers 24/7 emergency response; structural dehumidification; mold remediation; document and electronics restoration; machinery refurbishment; vital records recovery. The new Arizona office …
July 17, 2003
A proposal by Senate Commerce Committee Chairman Fritz Hollings (D-S.C.) to repeal the McCarran-Ferguson antitrust exemption and create a new Federal Insurance Commission within the Commerce Department was strongly criticized by the National Association of Independent Insurers (NAII). “NAII views …
July 17, 2003
Standard & Poor’s commented on the members of the Royal SunAlliance USA group (RSA USA): Royal Insurance Co. of America, Royal Indemnity Co., Connecticut Indemnity Co., Security Insurance Co. of Hartford, American & Foreign Insurance Co., Guaranty National Insurance Co., …
July 17, 2003
Standard & Poor’s Ratings Services said it revised its outlook on Italy-based marine insurer UMS Generali Marine SpA (UMS) to positive from stable. At the same time, S&P affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on …
July 17, 2003
The cost of household water damage in California continues to grow at an alarming rate, while the volume of insurance claims being filed for water damage is climbing modestly, a new study has found. Remediation and construction costs are largely …
July 16, 2003
New York State Insurance Superintendent Gregory Serio reportedly rejected this years’ filing by the New York Compensation Insurance Rating Board (NYCIRB) for a workers’ compensation insurance overall rate increase of 11 percent. The Department determined that the increase requested is …
July 16, 2003
A Los Angeles insurance broker has been charged with four felony counts of grand theft for allegedly stealing an estimated $14,000 in premiums from his clients, according to investigators with the California Department of Insurance (CDI). Jung Wo Kim, 37, …
July 16, 2003
Key Florida House and Senate leaders met into the evening Tuesday trying to agree on a non-economic damages cap and other major issues standing in the way of final legislative approval of a package to fix the state’s medical malpractice …
July 16, 2003
Chicago-based Aon Corp. licensed the rights to the Center for Aggression Management, and hired Dr. John D. Byrnes, the center’s founder and director, as a full-time consultant. The Center for Aggression Management, an organization dedicated to proactively identifying, measuring and …
July 16, 2003
Illinois surplus lines carriers are protesting a retroactive tax hike that was enacted to help address the state’s budget deficit, according to Springfield’s State Journal-Register. The surplus lines producer tax was raised to 3.5 percent from 3 percent, retroactive to …