Many Floridians already facing soaring insurance rates will be hit by additional surcharges that could tack another 9 percent to their premiums next year. The Florida Insurance Guaranty Association approved a new 2 percent surcharge. It will be added to …
What a difference a year makes. The U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through the first nine months of 2006. For the same period in 2005, it lost $2.5 billion. Insurers and policyholders have Mother …
Reinsurance rates for the property/casualty industry are falling or flat, except for insurers with major property wind exposure along the Gulf and East Coasts, where rates are still rising. That is one key finding from an annual international reinsurance review …
Robert M. Hoye, formerly of Arrowhead General Insurance Agency, died peacefully of natural causes on Dec. 15. Hoye was born in Harvey, N.D. He served in World War II and was honorably discharged following his tour of duty. He received …
The Earth isn’t flat “It’s not that they’re bad investigators or there’s been any conspiracy to promulgate erroneous conclusions — it’s just the way it was. How many years did we think the Earth was flat?” — Richard Custer, former …
The Drive Group of Progressive Insurance Companies is lowering auto insurance premiums in Colorado by an average of 5.2 percent for new customers effective Sept. 6 and existing customers effective Oct. 16, the company said. The Drive Insurance from Progressive …
Colorado’s Gov.-elect Bill Ritter announced he is appointing Manitou Springs Mayor Marcy Morrison, a Republican, as insurance administrator. And Idaho Gov.-elect Butch Otter said he would appoint state Rep. Bill Deal to head the state’s Department of Insurance. Morrison served …
The Workers’ Compensation Insurance Rating Bureau of California has completed its report summarizing insurer loss and premium experience through Sept. 30, 2006. The data seems to verify that workers’ compensation reforms are working to bring costs down. However, “there is …
If you have construction clients, you may know there are several relatively new policy form options available. These options have increased in recent times, including the introduction of limited reporting periods, or “sunset clauses” and “first manifestation provisions.” These options …
Calif. State Fund receives $3 million-plus San Diego Superior Court Judge William H. McAdam has ordered the owners of a San Diego area roofing company to pay $3 million in restitution to California’s State Compensation Insurance Fund, $81,649 in investigation …
