Adding wind coverage to the current federal flood and wind insurance program could benefit some policyholders and market participants but would also involve trade-offs, says a new government report. While current legislation to add wind to the flood program would …
A trade group for New York insurance agents wants to rewrite the laws governing the New York State Insurance Fund — a nonprofit state agency that is the state’s largest workers’ compensation insurer — to put it on a level …
A rash of accidents has killed 13 people in the last five months at construction sites across New York City, leaving builders and safety officials on edge as they look for ways to improve safety conditions for workers and bystanders. …
Massachusetts insurance officials have blocked a 13.2 percent statewide rate hike by the state’s residual market home insurer. The decision by Insurance Commissioner Nonnie S. Burnes spares some 150,000 coastal and urban homeowners from being charged higher premiums for now. …
Workers’ compensation insurers in New York can cease making payments to the state’s security fund, now that the fund has amassed $74 million in assets, the Insurance Department said. By statute, the department can suspend the requirement that insurers pay …
AmWINS, Beacon Risk Strategies Charlotte, N.C.-based AmWINS Group Inc. acquired Beacon Risk Strategies, a Seattle-based managing general underwriter of excess-loss benefits insurance. Terms of the transaction were not disclosed. Founded in 1999, Beacon Risk Strategies provides stop-loss products to protect …
Complex Investigation “They’re going to treat it as suspicious until they find out it isn’t.” —Norwich, Connecticut Police Capt. Timothy Menard, commenting on the investigation into a massive fire at an apartment complex in the town. The blaze leveled a …
Existing carriers call high risk exemption for newcomers unfair; agents say Progressive’s Web site misleads After a month of operating under a new managed competition system for auto insurance, Massachusetts is seeing competition heat up — at least over rules …
As the need for U.S. government foreign-based support personnel increases, so does the need for workers’ compensation coverage for contractors involved in U.S. funded projects. Contracts for insurers wanting to provide workers’ compensation coverage for the U.S. citizens and foreign …
Maurice “Hank” Greenberg’s withering criticism of American International Group Inc. has yet to win widespread support for a revolt against the current management of the giant insurer he used to run. There is no question that AIG’s $13 billion in …
