In a precedent-setting case, the Nevada Supreme Court held last Thursday that worker comp benefits can go to families of people who kill themselves if an industrial accident broke down their “rational mental process” and left them suicidal. The high …
Falling medical malpractice premiums led to a 15 percent drop in net premiums written between 2006 and 2007 for a composite of captive insurance companies, but captives overall benefited from favorable underwriting trends. — Net premiums written fell 26 percent …
Insurance brokerages who lost billions of dollars in revenue under a ban imposed by former New York Attorney General Eliot Spitzer told state regulators on Friday that the rules were never applied universally, and should either be lifted or imposed …
Fitch Ratings has revised its rating outlook on Imagine Insurance Company Limited and Imagine International Reinsurance Limited (collectively, Imagine) to Negative from Stable. Fitch currently rates both with an insurer financial strength (IFS) rating of ‘A-‘. Fitch explained that it …
Oakland, Calif.’s city attorney said Friday he will file a lawsuit claiming municipal bond insurers duped the city into buying bond insurance despite risks the guarantors faced to their triple-A ratings from insuring subprime mortgage-related securities. Oakland will file its …
Standard & Poor’s Ratings Services has announced that it is “taking no rating action on Allstate Corp. (NYSE:ALL; A+/Stable/A-1) or its subsidiaries following Allstate’s announcement that it had a pretax loss of $86 million for second-quarter 2008 compared with pretax …
New Hampshire residents facing downed trees on their houses or in their yards from Thursday’s tornado could face some hefty bills. A typical homeowner’s insurance policy in New Hampshire covers only $1,000 for tree removal and $500 for any single …
Des Moines, Iowa-based EMC Insurance Group reported that losses from Midwest storms cost the company more than $23 million in the second quarter alone. By comparison, storm losses in the second quarter of 2007 totaled nearly $9.8 million. Company officials …
Scott Crenshaw has joined Wells Fargo Insurance Services Inc. as a sales executive in its Omaha, Neb., office. Crenshaw will focus on developing new business opportunities, ensuring customer satisfaction and retention, and assisting in the growth of the Omaha office. …
A fast-spreading fire burning near an entrance to Yosemite National Park near Midpines, Calif., forced the evacuations of 170 homes on Sunday and caused officials to cut power to the park. The fire grew from about 1.5 square miles (4 …
