Two days into a special legislative session, after debating 20 amendments, the Florida Senate voted to pass Senate Bill 4-A, a measure which promises an average 25 percent premium cut to homeowners and lets Citizens Property Insurance Corp. write commercial …
A.M. Best Co. has withdrawn the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a” and assigned an NR-5 (Not Formally Followed) to GE Reinsurance Corporation (GE Re). The action follows the completion of …
Bermuda’s AXIS Capital has announced a strategic reorganization “to further strengthen the global operations of AXIS Insurance,” starting with the appointment of Dennis Reding, currently that division’s Chairman, to the new position of Chief Operating Officer of AXIS Capital, reporting …
The United States Court of Appeals for the Fourth Circuit has affirmed a lower court decision that federal ERISA law invalidates a Maryland law that would have required giant retailer Wal-Mart to offer a certain level of health benefits to …
Illinois Attorney General Lisa Madigan today intervened in a lawsuit against several Chicago area radiology centers over their payment of illegal kickbacks to referring doctors. The complaint alleges that the radiology centers entered into sham “lease” agreements with doctors under …
Germany’s Allianz SE, Europe’s largest insurer in terms of gross premiums written, is set to get even bigger. The Munich-based Company announced plans to acquire the remaining 42.4 percent of the shares in French insurer AGF that it does not …
Train lines that carry hazardous shipments have little or no police presence and shoddy security that makes them easy targets for terrorists, according to a newspaper investigation. During a several-month, nationwide investigation, a reporter with the Pittsburgh Tribune-Review was able …
Two large insurers have defended their decision not to tell customers about their less-than-perfect credit, as the Supreme Court debated the legal standard for finding the companies liable under federal law. During an hour of argument Tuesday, several justices seemed …
The National Association of Mutual Insurance Companies (NAMIC) has unveiled a new website, www.climateandinsurance.org , to help address the increasing concerns about climate change and its impact on the property/casualty insurance industry. “There has been considerable discussion of climate change …
Financial analysis and actuarial services firm Demotech, Inc. has been designated an official Research Partner of Insurance Journal. The Columbus, Ohio-based company will provide research, actuarial and statistical support for the Insurance Journal editorial team and participate in special joint …
