The Oregon Supreme Court for a third time has allowed a $79.5 million punitive-damages judgment against Philip Morris, an award twice struck down by the U.S. Supreme Court, which suggested it was excessive. The award was for the family of …
Some observers speculate the fallout could lead to additional woes for AIG including possibly CEO Sullivan’s exit While American International Group Inc. sought to downplay its miscalculation of losses on a derivatives portfolio as not “material to the company,” Wall …
It’s been a long, frustrating process for most participants In February 2002, Insurance Journal reported that Congress and the Bush Administration had reached a deal whereby the trucking provisions of the North American Free Trade Agreement could finally be implemented. …
For years, property casualty (P/C) agencies have been making the jump into offering personal insurance — life, long-term care and disability — as an adjunct to their traditional products. Brokers have realized that the same people to whom they sell …
Two insurance companies have refunded about $5.7 million to Colorado customers affected by billing and record keeping errors, state officials said this month. Hartford Financial Services Group has returned more than $2.5 million to holders of its commercial automobile insurance, …
A Democratic lawmaker is pushing legislation in California that would prohibit doctors from considering age, race or genetic factors in determining the size of workers’ compensation benefits for employees who suffer job-related disabilities. The bill by Sen. Carole Migden, D-San …
UM/UIM Options “Uninsured and underinsured motorist insurance are policy coverage options consumers should carefully consider.” —Kenton Brine, Northwest regional manager for the Property Casualty Insurers Association of America (PCI). Brine’s comment came after the Idaho House of Representatives passed legislation …
U.S. District Judge Stanwood Duval recently dismissed a lawsuit against the U.S. Corps of Engineers over levee failures in New Orleans following Hurricane Katrina in 2005. Duval ruled the Corps had immunity from the lawsuit, not because he didn’t believe …
How to navigate risk and find coverage solutions for hedge funds and their managers Hedge funds manage financial risk every day. Managers constantly seek out new strategies and investments, and then weigh the potential reward of each investment against its …
The Greenlining Institute is the most recent consumer protection organization to file a petition with the California Department of Insurance over a proposed rate filing by the United States Automobile Association. Greenlining’s petition joins an earlier petition by the Foundation …
