Rhode Island’s dominant workers’ compensation carrier is facing an overdue audit and a probe into a whistle blower’s allegations as the state-created firm seeks to loosen the regulations governing it. This week, Department of Business Regulation Director A. Michael Marques …
New legislation that would expedite the rebuilding process for hurricane victims will be suggested to the Florida Legislature by Tom Gallagher, the state’s CFO. The measure would ensure homeowners immediately receive insurance money for additional living expenses and lost personal …
The arrests of 13 Halifax County, N.C. residents who allegedly masterminded a family auto insurance fraud ring that swindled insurance companies out of $56,000 in fraudulent motorcycle and auto claims has been announced by North Carolina Insurance Commissioner Jim Long. …
Barney & Barney LLC based in San Diego has added four account executives to its staff: Michele Comtois and Sean Reddy in the Commercial Department, and Mary O’ Tousa and Henry Beceiro in Employee Benefits. Prior to her new role, …
Directors and officers liability insurance capacity leveled off at about $1.5 billion in 2005, about where it was in 2004, while coverage restrictions continued to ease, according to D&O Liability 2005 Survey conducted by the Tillinghast business of Towers Perrin. …
Insurers writing monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. Officials of the U.S. Treasury Dept., which administers the program, recently offered clarifications regarding …
Analysis of one typical large company’s 65 years of excess casualty programs turns up disturbing news. More than half of the 49 carriers that participated on this corporation’s excess programs are now insolvent or impaired enough to be considered serious …
It seems that every risk today has a big exposure, regardless of size or industry type. Some popular litigation targets include product liability, personal injury claims, false advertising and, most frequently, commercial auto. Consumer products, contractors and businesses with large …
The Second Circuit Court of Appeals has ruled that the BMC-32 Endorsement [Bureau of Motor Carriers attachment] does not apply to contract carriage for shipments taking place after Jan. 1, 1996, the effective date of the Interstate Commerce Commission (ICC) …
The extension of the federal Terrorism Risk Insurance Act represents solvency protection in extreme events but is not an industry subsidy, according to risk modeling experts at Risk Management Solutions and AIR Worldwide Corp. While it is impossible to predict …
