A story posted recently on the Insurance Journal Web site, www.insurancejournal.com, described a fire in which a man in California was badly burned when his cell phone seemingly combusted spontaneously. According to the original story, firefighters believed a malfunctioning cell …
Monoline Energy Nuts & Bolts: MarketScout, the Dallas-based eInsurance Exchange, has launched an exclusive Monoline Energy Workers’ Compensation program. The facility accepts most class codes related to the energy industry, including operations “over the hole” and USL&H exposures. Dollars: Statutory …
The case appears to be more about how one insurer handled a particular claim and not a ruling with widespread impact on the industry. The insurance industry, or at least State Farm, was surprised earlier this month when the insurer …
Florida Senate President Ken Pruitt, R-Port St. Lucie, left, talks with Speaker of the House Marco Rubio, R-West Miami, prior to the conference committee on insurance reform in Tallahassee. (AP Photo/Phil Coale)
Florida’s mild climate and world-class beaches continue to draw Northern retirees seeking temporary refuge from harsh winter weather, but tourism experts say many of these snowbirds are shortening their stays. Rental rates have risen to keep up with spiraling property …
Congressional fight “This is going to be a fight. These guys have dumped a lot of money in campaigns. They dumped $27 million in the presidential race, most of it going to the winner just a couple of years ago. …
$60 billion The record estimated income after taxes for the property casualty insurers in 2006, according to the Insurance Information Institute. $8 billion The estimate of insured catastrophe losses in 2006, down from $62 billion in 2005, according to the …
People Citizens Property Insurance Corp.’s board of governors voted unanimously to recommend interim President Scott Wallace be appointed to the post permanently. Wallace was selected from more than 70 candidates by a special board search committee during a teleconference meeting. …
New insurance commissioner in Tennessee Tennessee Governor Phil Bredesen has named a Nashville attorney, Leslie Shechter Newman, as commissioner of the Department of Commerce and Insurance. She succeeds Paula Flowers, who recently resigned. Newman is a partner with Nashville’s Farmer …
Goldman Sachs, USI Holdings Big insurance broker USI Holdings Corp. agreed to be acquired by GS Capital Partners, a private equity affiliate of Goldman, Sachs and Co., in a transaction valued at approximately $1.4 billion, including repayment of USI’s existing …
