Responding to a new claim by the Port Authority of New York and New Jersey that it is separately insured for a $2.1 billion “shortfall” in Silverstein property insurance following the Sept. 11, 2001, terrorist attack, a group of insurers …
The New York State Senate gave final legislative approval to legislation (S.4180), sponsored by Senator Charles Fuschillo (R-C, Merrick), chairman of the Senate Consumer Protection Committee, that reworks the state’s “Do Not Call” Registry to eliminate more telemarketing calls. “This …
The Rhode Island Supreme Court has lifted a stay on the payment of about $180,000 in death benefits to the families of four employees killed in The Station nightclub fire. The owners of the club, Jeffrey and Michael Derderian, had …
Connecticut is slated to become the third state to prohibit drivers from using hand-held phones, under a bill that has been given final legislative approval by the state Senate. The Senate voted 32-4 in favor of the ban and sent …
Commonwealth Auto Reinsurers has advanced its new commercial auto limited servicing carrier program by selecting the six carriers that will service this residual market business beginning next January. The six carriers are St. Paul Travelers, Hanover, Arbella, Commerce, Pilgrim and …
A reported 20 homes are said to be destroyed on June 1 in Laguna Beach, California, due to a landslide in the Bluebird Canyon area, according to the Los Angeles Times. Only minor injuries have been reported. Approximately 20 homes …
Crucial differences between public and mutual insurers cause NAMIC to oppose the NAIC’s proposal to embed in state insurance regulation the expensive and burdensome provisions on financial disclosure found in Section 404 of the Sarbanes-Oxley Act of 2002. These provisions, …
The nature of employment practices liability has changed. Coverage for liability claims arising out of discrimination, harassment, and other employment practices issues is no longer limited to first or second parties. Third-party claims from a policyholder’s employee’s contacts with customers, …
California Insurance Commissioner John Garamendi’s new proposed agent/broker fiduciary duties regulations are a lot better for the industry than his original regulations, hundreds of agents recently learned at the sixth annual Latin American Agents Association Convention held May 12-15 in …
Many workers’ compensation insurers doing business in California are decreasing their rates, evidence that the major reforms enacted last year are taking effect. Insurance Commissioner John Garamendi recently recommended that carriers decrease their workers’ comp rates by 18 percent, while …
