A proposed bill severely restricting insurers’ ability to manage exposure and calculate risk would give homeowners insurers no option but to limit writing new coverage in California, the American Insurance Association (AIA) said. Senate Bill 64, authored by Sen. Jackie …
The National Association of Independent Insurers (NAII) filed an amicus brief with the Illinois Supreme Court urging the court to reverse an Appellate Court opinion that broadens the scope of the Illinois Consumer Fraud Act (IFCA) by eliminating its proximate …
The Department of the Treasury this week finalized the first regulation implementing the Terrorism Risk Insurance Act of 2002 (TRIA). The final rule clarifies that fidelity insurance is not included under the Act and does not issue new requirements for …
The reported increasing popularity of the National Conference of Insurance Legislators (NCOIL) Insurance Scoring Model Act and the publication of two significant studies showing an irrefutable link between credit-based insurance scores and risk of loss have apparently helped to mitigate …
The Senate Republican leadership tried to revive medical liability reform legislation in the Senate on Wednesday, but Democrats reportedly blocked consideration of The Patients First Act of 2003 (S. 11) by a vote of 49-48. Sixty votes were needed to …
Ohio-based State Auto Financial Corporation has increased its estimate of May storm losses by $16 million, bringing the total to $39 to $42 million, pre-tax. This will add seven loss ratio points to the previous estimate contained in its May …
NYMAGIC, INC announced that its insurance subsidiary, Gotham Insurance Company, has commenced writing Employment Practices Liability Insurance through Chicago, Illinois based Edgewater Holding, Ltd. “Edgewater was formed in 1991 and is dedicated solely to the underwriting of EPLI business. Edgewater’s …
Citing “increased business opportunities,” Atlanta-based Engle Martin & Associates, Inc. announced that it needs larger offices and an additional manager in the New England Region. The claims adjustment firm has hired Joseph Fetters as a National General Adjuster to head …
Community Banks, Inc. announced that it has entered into a definitive agreement to acquire Your Insurance Partner, an agency with offices in Mechanicsburg and Dillsburg, PA. The transaction is subject to regulatory approvals and is expected to close in the …
New York’s Superintendent of Insurance Gregory V. Serio announced that an investigation into a fraudulent prescription drug reimbursement claim has resulted in the arrest of Lynn Blake, 37, of Middletown, New York, “who is charged with Insurance Fraud in the …
