The American Insurance Association (AIA) on Thursday issued a statement in response to the introduction of ABX4 16. This measure would reportedly impose a new rate regulation scheme on workers’ compensation carriers in California. According to Nicole Mahrt, director of …
California Insurance Commissioner John Garamendi released the following statement in regards to the recent agreement by Gov. Arnold Schwarzenegger and the Legislature for a workers’ compensation reform package: “Today’s agreement on comprehensive workers’ compensation reform legislation is good news for …
While violent crimes showed a decrease, California Attorney General Bill Lockyer announced that preliminary statistics show property crimes rose 2.8 percent in the state’s most populous cities and counties in 2003. “Protecting the personal safety of Californians is an essential …
The National Association of Mutual Insurance Companies (NAMIC), the Property Casualty Insurers Association of America (PCI), and the Reinsurance Association of America (RAA) late Thursday issued a joint statement in response to “The Fairness in Asbestos Injury and Resolution Act …
Oklahoma State Rep. Fred Perry (R-Tulsa), senior member of the Tulsa House delegation, expressed concern that no House members from the Tulsa area are on the Tort Reform Joint Conference Committee. According to the House Media Division, Perry pointed out …
The National Association of Professional Insurance Agents (PIA) has wrapped up two weeks of visits to Capitol Hill pressing for reauthorization of the federal flood insurance program. On April 8, PIA met with staff of the Senate Banking Committee Subcommittee …
An Illinois appeals court has rejected a plaintiff’s claim that its auto insurer breached its contract by refusing to pay for diminished value in an auto repair case. “Although the appeals court decision doesn’t throw out the concept of diminished …
The truth about loss reserve adequacy, from the perspective of a regulator, an investor and an attorney, and the rationale behind the implementation of fair value accounting standards will be among the topics featured at the Spring Meeting of the …
The following is a statement issued by Sam Sorich, president of the Association of California Insurance Companies (ACIC). “The Association of California Insurance Companies commends the Legislature and Governor Schwarzenegger for reaching a resolution on the critical and complex issue …
Insurity Inc., a ChoicePoint company, announced that South Carolina-based Capital City Insurance Company Inc. has selected Insurity’s Commercial Intellisys’ property/casualty policy processing services and software to support its regional commercial P/C business. Jim Skiff, Capital City’s vice president of operations, …
