Pennsylvania Gov. Ed Rendell said that findings from an auto insurance study would be used to cut premiums by at least $120 million over the next several months. Insurance Commissioner Diane Koken and her department will use the findings on …
The Independent Insurance Agents & Brokers of America, the nation’s largest insurance trade association, has addressed its most recent concerns over the proposed Subsection (B) to Compensation Disclosure Amendment proposed to be added to the National Association of Insurance Commissioners’ …
Connecticut Insurance Commissioner Susan Cogswell has approved the acquisition of ConnectiCare by Health Insurance Plan of Greater New York. The merger price is $350 million. Regulators in Massachusetts and New York must also approve the deal. HIP-NY is a not-for-profit …
The National Arbitration Forum has a new on-line application that will provide the text of arbitrator decisions issued in No-Fault Insurance Personal Injury Protection disputes in New Jersey. This addition to the program’s web service offers access to decision and …
A Virginia Senate committee has endorsed medical malpractice reform legislation that reflects a compromise between Virginia’s doctors and lawyers. The measure does not limit awards for noneconomic damages — a feature physicians wanted to help hold down the cost of …
Where there are cars there are accidents, and where there are accidents there are insurance claims, which unfortunately are too often phony. The U.K. has announced a new measure to try and combat this kind of fraud, which the Association …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) and assigned an issuer credit rating of “aa-” to Italy’s largest insurer Assicurazioni Generali S.p.A. Best also affirmed the ratings of debt instruments issued or …
The Strategic Independent Agents Alliance Canada (SIAAC), the country’s largest network of partnering independent insurance brokerages, announced that Condotta, Merrett & Company Insurance Brokers of Niagara Falls, Ontario has joined the organization and has established Broker to Broker Alliance Insurance …
A.M. Best Co. commented that the financial strength rating of “A-” (Excellent) of the Bermuda-based Alea Group and its rated subsidiaries remains unaffected following the Group’s statement that it has lowered its forecast earnings for the full year 2004. “The …
The New York State Insurance Department has issued a regulation requiring those who sell universal life insurance in the state to set aside adequate reserves in keeping with the spirit of an actuarial guideline that establishes the standard for the …
