Policyholders with a covered claim against insolvent Reciprocal of America can expect a partial payment soon. The Virginia State Corporation Commission has authorized the deputy receiver of the liquidated reciprocal insurer to make a 17 percent distribution to policyholder-level claimants. …
Problems including lawsuits, stock losses and negative publicity have created a humbler UnumProvident Corp. that is emerging from its financial troubles as a stronger company, the company’s chief executive says. The nation’s largest disability insurance company has been cleansed of …
In a recent case involving millions in potential damages, the Supreme Court of the State of New York (County of Nassau) ruled that an employee who was involved in routine maintenance was not entitled to certain protections under New York’s …
8.7% rate cut is a lot more than the 0.1 percent cut recommended by insurers Private passenger auto insurance rates will be cut an average 8.7 percent in Massachusetts in 2006 under a ruling by insurance commissioner Julianne M. Bowler. …
The new year also brings a new Safe Driver Insurance Plan for Massachusetts drivers in addition to lower rates. The revised plan will provide discounts for the state’s best drivers and offer incentives for bad drivers to improve their driving …
The New York State Insurance Department has approved an average 5.6 percent decrease in auto insurance premiums for drivers in New York’s Automobile Insurance Plan (AIP), also known as the assigned risk plan. The new AIP rate schedule goes into …
Pennsylvania Gov. Ed Rendell has signed a bill limiting lawsuits against the owners of horse stables. Supporters say the legislation, which goes into effect in 60 days, was crucial to protect the state’s nearly $10 billion equine industry. Pennsylvania had …
Insurers’ proposal would have state switch to file-and-use rate system Insurers in New York State will lobby to end price controls on personal and commercial lines policies in the coming year. Their proposal would retain other aspects of state oversight …
About 30,000 Pennsylvania health care providers would receive a state subsidy for a fourth straight year to help them pay their medical malpractice insurance bills, under legislation signed by Gov. Ed Rendell. The legislation benefits doctors who pay into a …
The Maine Bureau of Insurance has modified the request of the industry’s National Council on Compensation Insurance for an average 1.8 percent increase in workers’ compensation rates for policy year 2006 to 1.2 percent. The new rates are effective Jan. …
