Finite reinsurance has received a lot of negative publicity within the past year amid allegations of its misuse as an accounting rather than risk transfer tool. But the product has its merits when used correctly, and it could be in …
Luxury used to be associated with a price, a label on a product and acquiring expensive items. Today, luxury is about service. The experience is defined by services that make the consumer feel pampered and unique. The more exclusive the …
ERISAMetropolitan Life Insurance v. Parker (Arizona Ninth Circuit Court, Feb. 2, 2006) Ruling: At issue in this case was that although the insurer declared that it owed various proceeds under an Employee Retirement Income Security Act (ERISA)-governed life insurance policy, …
A Nevada workers’ union is praising a state Supreme Court ruling that upheld claims of 40 former state employees who sought more pension credits because their jobs were privatized. The State of Nevada Employees Association added that the high court’s …
A new online system has been created to allow licensees to renew licenses and change their address of record, according to California Insurance Commissioner John Garamendi. Prior to the new service, licensees filled out paper applications that were reportedly often …
New Mexico’s 30-day legislative session, which ended recently, was predominantly focused on budget-related legislation. But a few insurance related bills were introduced, said the National Association of Mutual Insurance Companies (NAMIC). NAMIC opposed The Medical Malpractice Joint Underwriting Association Act, …
The Professional Insurance Agents (PIA) Western Alliance has formed the PIA Western Alliance Community Foundation, a partnership formed by the member-agents and independent insurers, to invest in local communities. Insurers and agents representing the nine Western Alliance states –Alaska, Arizona, …
There are opportunities to make California more earthquake-safe, according to the Institute for Business & Home Safety (IBHS). At the recent meeting of the Little Hoover Commission, a state oversight agency that promotes efficiency, economy and improved government service, Harvey …
Washington Senate Democrats have approved a bill that would permanently change unemployment laws to pay additional benefits to seasonal workers. The measure, which passed on a 25-22 vote, reverses the state’s move toward “four-quarter averaging” in which unemployment benefits are …
The Property Casualty Insurers Association of America (PCI) testified before the Colorado House Business Affairs and Labor Committee that legislation HB 1330, which would impose extensive new data reporting requirement on property casualty insurers, would not help consumers make more …
