The Property Casualty Insurers Association of America (PCI) is urging the Florida Legislature to establish an annual hurricane deductible for insurers and lower the threshold of losses that an insurer must sustain before it can recover money from the Florida …
Rhode Island’s landmark lawsuit against the lead paint industry has been postponed until Sept. 7, to give former lead company attorneys more time to depose parents or guardians of lead-poisoned children. The case was scheduled to begin on April 4. …
The Netherlands’ ING Group announced that it has signed an agreement to sell ING Chile’s property & casualty insurance operation, ING Seguros Generales, to the Boston-based Liberty Mutual Group. Financial details of the transaction were not disclosed. ING said the …
IBM has issued a bulletin noting the reliability of its iSeries system, which withstood Hurricane Ivan’s fury when it struck the Cayman Islands. The report details the experience of British Caymanian Insurance, part of the Colonial Group International (CGI), which …
A.M. Best Co. announced that it has affirmed the “A” (Excellent) financial strength rating of West of Luxembourg-based England Ship Owners Mutual Association (WOE) with a stable outlook. Best said it “regards WOE’s risk-adjusted capitalisation as excellent and believes this …
Zurich-based Converium announced that Dr. Markus Dennler, former CEO of Credit Suisse Group’s Life & Pensions business, and Rudolf Kellenberger, former Deputy CEO of Swiss Re, will run for election as members of Converium’s Board of Directors for a three-year …
The House of Delegates gave its preliminary approval this week to a package of bills that tightens rules governing young drivers, in an attempt to cut down the number of grisly teen crashes. “This is not a silver bullet for …
Educators Mutual Life Insurance Company and Eastern Holding Company, Ltd., the parent company of Eastern Alliance Insurance Group, both of Lancaster, Pa., have agreed to a plan in which Educators Mutual will convert from mutual to stock form and become …
Transactions between retail agents and brokers they place business through just became more labor intensive. I recently testified as an expert in a federal case involving a reputable agency’s failure to conduct proper due diligence on a purported surplus lines …
A Utah court ruled in favor of Workers Compensation Fund in February, stating that the state has no ownership in the Fund except as a policyholder. In Utah State Auditor v. Workers Compensation Fund, Utah District Judge Leslie A. Lewis …
