New York State’s largest provider of homeowners insurance should reconsider its decision to stop writing new policies in the metropolitan area over concerns about hurricane damage, according to Sen. Charles Schumer. “The chances of a Katrina-type hurricane hitting our area …
While nobody wants to report a loss, there are several insurers that are not bothered if they don’t report a profit. They serve the nonprofit market and are themselves nonprofit organizations. One of the nonprofit insurers in the market is …
A group of retailers has filed suits challenging laws in Maryland and New York that were enacted to pressure employers to spend a minimum amount on their employees’ health benefits. The Retail Industry Leaders Association claims that the so-called “fair …
Anticipating and assessing risk, along with defining and assigning value to units of exposure are basic components of an insurance underwriter’s job. Challenging as such tasks are when examining well-known exposures, they become doubly daunting when faced with previously unknown …
Virginia House Republicans have offered a $2 billion, four-year financing plan that is underwritten partly by daunting new fines on lead-footed drivers. It provides only about half the additional revenue for roads, commuter rails and transit that competing plans by …
Lawsuits stemming from a deadly crash at the base of Avon Mountain in Connecticut last July have led to an unlikely alliance between the victims and the owner of the trucking company at the center of the litigation. To successfully …
Insurance rates for taxicabs in the District of Columbia are being reduced as the result of a change in policy duration. Acting Commissioner Thomas Hampton of the District of Columbia Department of Insurance, Securities and Banking said he anticipated the …
As trade barriers fall and innovations in technology continue at a breakneck speed, more U.S. companies are reaching out and investing in international markets. U.S. businesses cannot ignore the opportunities in the global marketplace, with 95 percent of the world’s …
When underwriting for commercial properties, insurers need to obtain accurate insurance-to-value (ITV) calculations so they can charge the right premiums for the risks they assume. Adequate ITV is not an issue to be taken lightly. If insurers do not receive …
Lloyd’s is on the verge of suing two of its largest brokers, Aon and Benfield, over the Central Fund reinsurance policy they negotiated with six insurers in 1999. The policy, underwritten by Swiss Re, Employers Re, The St. Paul, Hannover …
