The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in response to allegations by the Consumer Federation of America (CFA) regarding record profit levels among insurers. “The recent positive financial news for 2006 is good for consumers …
National consumer organizations joined the Consumer Federation of America (CFA) today in Washington D.C. to release a new study concluding that the property/casualty insurance industry (which includes the nation’s home and auto insurers) has dramatically increased profits and surplus in …
A former chief of police in Louisville has been appointed director of the Insurance Fraud Investigation Division of the Kentucky Office of Insurance. Eugene Sherrard began his career in 1971 as a dispatcher for the Kentucky State Police post in …
Security breaches are becoming more frequent as businesses increasingly rely on technology to store and transfer assets and sensitive information, such as customer names and credit card numbers. With each security breach, there is the risk that a lawsuit or …
Mitsui Sumitomo Insurance Underwriting at Lloyd’s Ltd. (MSI) has launched its own Lloyd’s managing agency. According to a bulletin on the Lloyd’s web site (www.lloyds.com) it’s the first Japanese insurer to do so, and the first “turnkey” operation to have …
The ACE European Group has launched an expanded IT hardware and network security policy, available exclusively online under the name ComputerGuardPlus. “The policy, which includes cover for the losses resulting from hacking, web site defacement, denial of service attacks and …
The California Department of Insurance announced it has reached a resolution of its obligation to pay attorneys’ fees to two of the insurance companies that challenged the constitutionality of the landmark Holocaust Victims Insurance Relief Act of 1999. Insurance Commissioner …
The Independent Insurance Agents of Texas and Waco-based Insurors Indemnity announced they have teamed up to offer qualifying IIAT members a new commercial market for small to medium business accounts. IIAT will help identify eligible members, provide training, assist agents …
California Insurance Commissioner-elect Steve Poizner will take the oath of office today in front of 500 of Silicon Valley’s leaders at the Tech Museum of Innovation in downtown San Jose. Administering the oath of office will be former State Senator …
St. Paul Travelers is scaling back plans to stop renewing most of its commercial policies in the New Orleans area this year, a decision that is “very good news” for businesses here after the 2005 hurricanes, Insurance Commissioner Jim Donelon …
