77% Allstate Corp. that its first-quarter 2008 net income dropped 77 percent, hurt by write-downs in its investments and larger-than-expected catastrophe losses. The insurer said it had to write down the value of fixed-income securities by $347 million because of …
Weeks after a 5.2 level earthquake rocked the Midwest from Cairo, Ill., to Atlanta, Ga., geologists and the insurance industry are still discussing the impact of the quake — such as increases in the purchase of earthquake insurance. Earthquake endorsement …
A nationwide consumer study of automobile insurance regulation says that rates have risen more slowly over the past two decades in the 15 states that require insurers to receive advance approval of rate increases from the state. But the insurance …
Allowing car repair facilities to pay all or part of a deductible to an insured does not constitute a rebate prohibited under New York law, lawyers for the state’s insurance department have decided. The reasoning? Repair shops have no relationships …
New York’s highest court has ruled that a Manhattan high-rise owner is liable for injuries to a tenant’s workman, even though the worker was hired without the landlord’s consent in violation of the lease. The 5-2 court majority concluded that …
Charlotte, N.C.-based wholesale insurance broker AmWINS Group, Inc. has named James Drinkwater president of its AmWINS Brokerage division. Drinkwater will be responsible for the day-to-day management of the division. Prior to being promoted to this role, Drinkwater served as the …
A few years ago, the professional football career of Atlanta Falcons quarterback Chris Redman wasn’t going too well. Redman started his career with the Baltimore Ravens. He played 10 games in four years but then he got hurt — shoulder …
Kennebunkport, a Maine town occasionally targeted by crowds of demonstrators, will be voting in June on the latest revision to its mass-gathering ordinance. The Maine Civil Liberties Union objected to the initial revisions, claiming that an insurance requirement could pose …
On the shoreline at Keeler Bay in South Hero, Vermont, spring has sprung. Swollen by runoff from snowmelt, the blue water of Lake Champlain laps at the boulders and brick pavers, washes up under the house and covers the boat …
The Patrick Administration announced an agreement in the 2008 workers’ compensation rate-setting proceeding that will save Massachusetts businesses $11 million. The new rates average to a 1 percent reduction per employer and mark the ninth time rates have decreased since …
