Rhode Island Rep. Fausto C. Anguilla (D-Dist. 68, Bristol, Warren) has introduced legislation aimed at reining in high and rising malpractice insurance premiums. His bill, the Fair Insurance Act of 2005, would prohibit insurers from charging Rhode Island doctors fees …
American International Group, Inc. acknowledged that it has received subpoenas from New York Attorney General Eliot Spitzer and the Securities and Exchange Commission “relating to investigations of non-traditional insurance products and certain assumed reinsurance transactions and AIG’s accounting for such …
West Virginia Gov. Joe Manchin has formed several formal working groups to discuss insurance reforms and frivolous lawsuits. The groups are comprised mainly of lobbyists and lawmakers. During his State-of-the-State address Manchin said these topics will be at the top …
Six people whose homes were destroyed by a spectacular fire nearly five years ago have been awarded more than $1 million by a Bergen County, New Jersey jury, which found that a developer’s negligence contributed to the massive blaze. Nine …
Six months after four hurricanes tore through Florida, more than 532,000 mobile home owners in the state could soon face costly premium increases or lose coverage according to Sam Miller, executive vice president of the Florida Insurance Council. Miller was …
Everyone probably has an opinion on what constitutes competence or incompetence when it comes to driving an automobile, but when Robin Cummins, the man in charge of overseeing the U.K. Driving Standards Agency, expresses it, it carries extra weigh, and …
Swiss Re said its “continued focus on profitable underwriting achieved attractive rates in the January renewal,” even as the world’s second largest reinsurer’s premium volume decreased slightly by 2 percent. CEO John Coomber commented: “Our successful renewal has demonstrated Swiss …
International life reinsurer Scottish Re Group Limited announced that it has closed an offering of $850 million of 30-year maturity securities from its newly formed, wholly-owned subsidiary Orkney Holdings, LLC. The bulletin said “proceeds from this innovative transaction will fund …
A.M. Best Co. announced that it has affirmed the financial strength ratings of “A” (Excellent) of the Swiss affiliates of Germany’s Allianz – Allianz Suisse Versicherungs (ASV) and Allianz Suisse Lebensversicherungs (ASL) – with a stable outlook. “The ratings reflect …
The U.K.’s Chartered Insurance Institute notes that 12 months after its introduction the number of holders of the CII’s new Certificate in Insurance has grown to 2250, “as more practitioners expand their insurance knowledge and understanding.” The CII said that …
