Florida’s Chief Financial Officer Tom Gallagher today applauded state lawmakers for approving a measure that lays the groundwork for Floridians to set up hurricane savings accounts and protect these accounts from creditors. Congress would now need to create the accounts …
Three important lessons from the 2004 hurricane season were highlighted to more than 100 insurance professionals Wednesday in Miami by Lloyd’s Chairman Lord Levene, in advance of what is predicted to be another tough season in 2005. Levine said that …
The Senate Judiciary Committee has approved legislation that would shift Medi-Cal costs – and insurance rate hikes – to all forms of liability insurance, such as homeowners and automobile coverage, according to the Association of California Insurance Companies. The ACIC-opposed …
Legislation sponsored by the Association of California Insurance Companies (ACIC) to impose strong regulation of the use of credit information by homeowners insurers passed its first committee test today. The bill, AB 1454 by Assemblyman Ron Calderon (D-Montebello), was approved …
The Florida House of Representatives and Senate has distributed budget proposals without any provisions to pay Citizen’s Property Insurance Co.’s $516 million deficit. Unless legislators make unforeseen last minute changes, Florida homeowners could face a one-time fee of 6.8 percent …
Insurance broker Robert Stephen Rice, 56, was arrested on seven felony counts of grand theft at his home in Thousand Oaks, Calif., by the California Department of Insurance (CDI) Fraud Division. The arrest is the result of an investigation by …
The Insurance Council of Texas reported that a series of thunderstorms that pummeled portions of the Hill Country and central Texas in late March resulted in Texas leading the nation in insured losses during the first quarter of the year. …
AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group Inc. (AIG), has launched its enhanced AIG Private Client Group Auto Program in Texas. The offering is designed specifically for high …
Third-party warranty companies that provide services for Texas homeowners on behalf of builders/remodelers must now register with the Texas Residential Construction Commission. The commission announced it adopted rules that cover the warranty company guidelines during the its April 13, 2005, …
A.M. Best Co. has assigned a financial strength rating of A- (Excellent) to California Insurance Company (CIC) (San Francisco, Calif.), a wholly-owned subsidiary of Applied Underwriters Inc. (AUI) (Omaha, Neb.). The rating outlook is stable. The rating reflects CIC’s adequate …
