Oklahoma’s House of Representatives approved HB 2661, the tort reform bill, on a 68-32 vote Thursday afternoon. The State Senate was to take up the legislation for final passage Friday morning. In response to the move, Oklahoma Governor Brad Henry …
The 2004 Minnesota legislative session adjourned on May 16, with several insurance-related bills signed into law, and a fraud bill now on Republican Gov. Tim Pawlenty’s desk, according to the Property Casualty Insurers Association of America (PCI). So far, insurance …
The South Carolina House of Representatives has passed a personal lines modernization bill that will reportedly give consumers more choices of products and companies by enhancing the competitive nature of the market. The bill now returns to the Senate for …
Florida-based eAutoclaims announced the final closing of approximately $2.5 million in new financing. Of the $2.5 million, $2.25 million was a sale of equity to multiple investors at $0.28 per share and $250,000 was an 8% convertible debenture from one …
While the billions of cicadas that are currently invading the Eastern and Southern U.S. may be grabbing the headlines, entomologists have issued a warning that an insect plague with potentially far more serious consequences may be in the offing. Favorable …
A.M. Best Co. announced that it has upgraded the financial strength rating of Peoria, Ill.-based property/casualty insurer RLI Group to “A+” (superior) from “A” (excellent) of RLI Group (RLI). Additionally, RLI Indemnity Co.’s financial strength rating has been upgraded to …
The Washington, D.C.-based insurer lobbyist American Insurance Association (AIA) praised the Ohio General Assembly’s passage of the first asbestos reform legislation in the country that helps “truly sick victim of asbestos exposure get compensated quickly and fairly for their injuries.” …
The Illinois House of Representatives has voted down a Democratic medical malpractice reform plan that would have given the state’s insurance department the power to rein in rates it deemed excessive and created a $50 million state fund to help …
Prosecutors ended their fraud and racketeering case against Michael Segal after nearly six weeks of testimony with an accountant who said he warned the Chicago insurance broker that his Near North Insurance Brokerage Inc.’s premium trust fund carried a deficit. …
The Missouri Department of Insurance (MDI) announced it will provide an additional 15 days’ extra warning before it revokes licenses when agents have apparent unpaid tax liabilities to the state. MDI said it has identified 16,000 licensed agents with unpaid …
