State Farm settled out of court with a Biloxi couple whose lawsuit over Hurricane Katrina damage was scheduled to be tried next week in federal court, a lawyer for the homeowners said Tuesday. Terms were not disclosed. State Farm’s settlement …
Florida’s Chief Financial Officer Alex Sink replaced two members of Citizens Property Insurance Corp.’s board of governors this week. Sink appointed Andrea “Andy” Bennett of Sarasota and Tallahassee City Commissioner Allan Katz to serve on the eight-member board. The governor, …
U.S. Sens. Mel Martinez and Bill Nelson introduced a “six-pack” of congressional proposals this week calling for $4.3 billion in hurricane research, streamlined regulations to help curb soaring insurance rates and renewed debate on creating a national catastrophe fund for …
A judge weighed possible contempt penalties this week for two Mississippi sisters and a prominent lawyer over thousands of pages of State Farm Insurance Co. documents that were secretly copied as possible evidence in lawsuits stemming from homeowner claims after …
One of the toughest decisions a mother can face is between caring for a new infant and returning to work. The first few months of life are a critical bonding time between mother and child; however, with few companies providing …
In an interim report the UK’s Financial Services Authority acknowledged that “consumer experiences and risk of detriment vary substantially across the various markets for general insurance products.” Therefore it has decided “to consider a differentiated and more principles-based approach to …
The California State Compensation Insurance Fund’s Board of Directors announced they have appointed Lawrence E. Mulryan interim president. Mulryan will oversee State Fund operations while the Board conducts a national search for a new president. While Insurance Journal was unable …
Disgusted with his insurance company after Hurricane Katrina, the Rev. Simmie Harvey let his New Orleans homeowner policy lapse and left his house in the hands of a higher power. Somebody up there must like the 88-year-old Baptist minister: His …
The homeowners insurance line was three times more volatile than private passenger auto druing the 14-year period 1992-2005, due in large part to the active 2004 and 2005 Atlantic hurricane seasons, according to a recent study by Aon Re Global. …
The Colorado Senate Appropriations Committee is scheduled to vote on Friday on a bill that insurance associations say would force drivers to pay for mandated coverage that most consumers now choose to reject. Senate Bill 193 would require an auto …
