The proper allocation and remittance of surplus lines premium taxes to the states on multi-state risks has been the most vexing problem faced by surplus lines brokers during the nearly 116 year history of the industry. In recent years, the …
The Supreme Court has refused to consider whether a top judge in Illinois improperly voted to throw out a $1 billion judgment against State Farm Insurance Co. after accepting campaign donations from company lawyers and executives. The case raised an …
As Midwesterners we sometimes forget the problems that exist in other coastal regions–until we realize how they impact our businesses. For example, in Florida, one decried a system in which wealthy waterfront property owners are being subsidized by less affluent …
In the Northeastern and Atlantic states, elected politicians are in the thick of deciding on legislation that could affect insurers, insurance agents and their insureds. New Jersey lawmakers are considering restoring coverage under the New Jersey Surplus Lines Insurance Guaranty …
Using June 30, 2005 figures from bank holding companies, Michael White, president of Michael White Associates (www.bankinsurance.com) in Radnor, Pa., shows how relatively little insurance meant to Citizens: Citizens Financial Group, with assets of $148.5 billion, ranks 21st in the …
Insurers for three former lead paint manufacturers are seeking to limit insurance policies held by the paint companies. Underwriters at Lloyd’s of London filed the lawsuit in New York State Supreme Court last month after a Rhode Island jury decided …
Ratings analysts who downgraded personal lines insurer Atlantic Mutual earlier this month will be meeting with the company in the coming weeks to review results of the fourth quarter and all of 2005 before deciding what to do next. “We …
Pennsylvania Insurance Commissioner Diane Koken announced she will stop sending insurance agents’ fingerprints to a national repository, just days after a bill backed by the state’s independent agents that would have prohibited the state’s participation was introduced in the Pennsylvania …
The Mississippi lawsuit to force insurance companies to pay for damage caused by storm surge has been remanded back to the state’s Chancery Court of Hinds County. Since the state is seeking injunctive relief, the remand means the case will …
Community Banks Nuts & Bolts: OneBeacon Insurance, working with select independent insurance agents, has developed a solution for the increasingly complex risks of community banks through a combination of coverages designed specifically for these financial institutions and broader property and …
