The Alabama Legislature is ready to raise the minimum amount of auto liability insurance that motorists must purchase. The current limits under Alabama’s mandatory insurance law are $20,000 for a single injury or death, $40,000 for multiple injuries or deaths, …
Tornadoes killed at least 21 people and injured hundreds as they ripped through the central and southeastern United States over the weekend, destroying homes, overturning cars and downing trees and power lines. Authorities said 14 people died in Missouri, six …
A Vermont judge said a jury in Burlington can consider awarding punitive and compensatory damages to a former altar boy suing the state’s Roman Catholic diocese over sexual abuse he says he suffered at the hands of a priest. Although …
Virginians looking to prepare for hurricane season can thank the state for an upcoming tax holiday on items to keep their families ready in case of a storm. Virginia is holding its first hurricane preparedness tax holiday May 25-31, ahead …
The U.S. Senate last week officially rejected a bid by Gulf state senators to add wind coverage to a financially strapped federal program that provides flood insurance. Lawmakers from Louisiana and Mississippi cited problems that occurred after Hurricane Katrina and …
New Hampshire Gov. John Lynch has nominated Insurance Commissioner Roger Sevigny to serve another term. Former Gov. Craig Benson first nominated then-Assistant Commissioner Sevigny to replace Insurance Commissioner Paula Rogers in 2003. His peers in other states have elected Sevigny …
President Bush declared a northern Maine county a federal disaster on Friday after historic flooding that destroyed or damaged hundreds of homes this month. The declaration makes federal assistance available in Aroostook County for temporary housing, repairs and disaster-related expenses …
Standard & Poor’s Ratings Services has assigned it’s ‘A-‘ rating to Travelers Cos.Inc.’s $500 million senior notes maturing in 2018. The company intends to use the proceeds for general corporate purposes. “The counterparty credit rating on Travelers is based on …
Standard & Poor’s Ratings Services has withdrawn its ‘BBB+’ counterparty credit rating on Panther Re Bermuda Ltd.’s senior secured Term A loan and its ‘BB+’ rating on Panther Re’s subordinated Term B loan at the issuer’s request. “The rating withdrawal …
Boston-based AIR Worldwide’s analysis of Nargis, the deadly tropical cyclone, which struck Myanmar’s (Burma’s) densely populated Irrawaddy River Delta region (See IJ web site – https://www.insurancejournal.com/news/international/2008/05/09/89875.htm), notes that powerful storms in the area have been increasing over the years. “The …
