The California Department of Insurance recently accepted a petition that would change how automobile insurance rates are set in California. The petition, proposed by consumer groups, would restrict the importance that insurance companies could give to a driver’s ZIP code—or …
Benefits paid to workers and employers’ costs for workers’ compensation rose slightly faster than wages in 2001, according to a new report released today by the National Academy of Social Insurance. This is the first year since 1992 that benefits …
New Jersey’s Attorney General Peter Harvey announced that an Essex County woman has been charged by the Division of Criminal Justice – Office of Insurance Fraud Prosecutor with allegedly possessing a counterfeit auto insurance identification card which she tried to …
Chicago-based CNA insurance companies has integrated the OMMni.com cargo system of its marine operations with Fountainhead International LLC’s CargoWise® software solution to provide an integrated cargo insurance solution for freight forwarders and logistics providers. The CargoWise® software solution addresses all …
General Re Corporation announces it has purchased AXA Konzern AG’s 49.9 percent shareholding in a Luxembourg-based joint venture company which owns 12,324,090 shares, or about 58.9 percent, of Kolnische Ruckversicherungs-Gesellschaft AG (“Cologne Re”) and approximately EUR 560 million in investments. …
XL Capital Ltd announced that it has entered into a capital markets transaction to increase its capital resources and capacity to provide reinsurance financial statement credit to its U.S. property and casualty insurance operations. Through the transaction, XL obtained an …
Effective July 1, Kenesaw, Ga.-based THOMCO’s National Programs for Childcare, Assisted Living, Mental Health and the Developmentally Disabled will no longer be underwritten by TIG Insurance Company, but instead will be underwritten by members of the Glencoe Group. Subject to …
The Insurance Council of Texas (ICT) today reported the state’s costliest and deadliest storms since 1950. A tropical storm that dropped more than three feet of rain on parts of Houston was the costliest weather disaster in Texas, while a …
Three suspects were arrested and charged with 28 felony counts after an investigation by multiple agencies into a staged auto collision ring in the Los Angeles area, which cost insurance companies an estimated $1 million in false claims payments. The …
Zurich Financial Services Group (Zurich) and BNP Paribas (BNPP) have agreed on a framework for the transfer of derivative transactions and credit facilities and related assets by Zurich Capital Markets (ZCM) to BNPP. BNP Paribas has taken over responsibility for …
