Hurricane Isabel was directly or indirectly responsible for 50 deaths nationwide and caused an estimated $170 million of property damage in North Carolina last September. Experts predict 14 named storms and eight hurricanes in the Atlantic basin for 2004. Now …
Bermuda-based ACE Limited (NYSE:ACE) reported net income for the first quarter ended March 31, 2004 of $447 million or $1.53 per share, compared with net income of $247 million or $0.90 per share for the prior year. Income excluding net …
An Abington, Massachusetts man has pleaded guilty to charges he schemed, along with his insurance agent, to avoid paying more than $131,000 in workers’ compensation insurance premiums, Attorney General Tom Reilly announced. Patrick J. O’Shaughnessy, 61, of Abington pleaded guilty …
The AIG Companies have launched Venue Liability Protector, a commercial coverage designed to address the casualty risks of public venues and accident risks of patrons at performance and hospitality events. Venue Liability Protector is a broad, general liability coverage that …
New Jersey-based Selective Insurance Group Inc., reported net income of $27.5 million, or $0.88 per diluted share, for the first quarter ended March 31, 2004, compared with $8.0 million, or $0.29 per diluted share, for the same period last year. …
In an effort to highlight new features for its RV product, the Progressive group of insurance companies has launched a nationwide promotion by giving away six 2005 Jayco Jay Feather EXP 18′ travel trailers, valued at more than $15,000 each, …
Florida Gov. Jeb Bush on Tuesday signed into law a bill creating an electronic database for insurers to use in allocating insurance property and casualty premium taxes. “H.B. 251 is a major step forward in modernizing the process of allocating …
The Independent Insurance Agents of North Carolina will sponsor qualifying tournaments for the annual Independent Insurance Agent Junior Classic (IIAJC) national finals. The tournament is open to local junior golfers—both boys and girls—18 and under who have not started college. …
As the next step in its strategy to manage the risks inherent to its core business – the Olympic Games – the International Olympic Committee (IOC) on Tuesday announced that it has taken out an insurance policy, which also protects …
Legislation that would amend Proposition 103 to expand the insurance commissioner’s authority to disapprove rates beyond current standards is unjustified and unnecessary, according to the Association of California Insurance Companies (ACIC). Under Proposition 103, rates cannot be “excessive, inadequate or …
