President Bush will propose a tax deduction of $7,500 for individuals and $15,000 for families regardless of whether they buy their own health insurance or receive medical coverage at work. The proposal, to be announced Tuesday in his State of …
State Farm Fire & Casualty Co. settled out of court last Friday with a Mississippi policyholder whose lawsuit over Hurricane Katrina damage was scheduled to be tried next week in federal court. State Farm settled with Richard Tejedor of Long …
Massachusetts Gov. Deval Patrick said he will comprehensively review the state auto insurance system after the acting insurance commissioner on Friday suspended rules changes made in the system during the final weeks of the Romney administration. On Dec. 13, then …
The UK-based XL Insurance Company Limited, part of Bermuda’s XL Capital, announced the launch of its new primary food and drink product contamination insurance, which includes integrated crisis management cover. XL said the policy “not only covers costs associated with …
ACE UK has launched an online agency agreement to enable larger numbers of brokers to trade with the company using a range of e-commerce distribution platforms. “The new online agency agreement is an important element of ACE’s eCommerce strategy, providing …
Marsh announced from its London offices that it has named Chris Baker as Client Director within its Trade Credit Practice, and Doug Smith as a Business Risk Consultant based in Marsh’s Edinburgh office. Baker will report to Practice Leader Tim …
Standard & Poor’s Ratings Services has affirmed its “BBB” long-term subordinated debt rating on the $600 million 7.249 percent perpetual, subordinated, callable, fixed-/floating-rate, noncumulative preferred shares issued by Bermuda-based Catlin Insurance Co. Ltd. (rated A-/Stable/–), following receipt of final documentation. …
Catastrophe risk modeler AIR Worldwide has issued a bulletin estimating insured losses from Winter Storm Kyrill (or Cyril) at between €4 billion and €8 billion ($5.18 billion and $10.37 billion). The GDV German insurance industry association estimated that country’s insured …
Florida lawmakers tentatively agreed Saturday on a comprehensive proposal aimed at lowering Floridians’ skyrocketing property insurance rates, saying they’d finalize the plan with a vote on the package on Monday. The proposal hits at high rates for wind coverage in …
St. Paul Travelers has reduced commissions paid to insurance agents on homeowners policies sold in Bryan, Camden, Chatham, Glynn, Liberty, and McIntosh Counties, according to Georgia Insurance Commissioner John Oxendine. The intention, the commissioner said, is for St. Paul Travelers …
