California Gov. Arnold Schwarzenegger has proposed downgrading insurance crimes in California from felonies to misdemeanors to help reduce the prison budget — a move that insurance and fraud experts say would have dire consequences. In his 2009-10 May Revision General …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa” of Japan’s Mitsui Sumitomo Insurance Company Limited (MSI). Best also affirmed the FSR of ‘A+’ (Superior) and assigned an ICR …
The Louisiana Legislature passed SB 303, workers’ compensation medical treatment legislation, just before it adjourned on June 25. According to the American Insurance Association (AIA), SB 303 requires that medical treatments adhere to a new treatment schedule and that such …
Fireman’s Fund Insurance Company (FFIC) has been denied a motion in a Texas state court that would have established that the company could control whether or not it would pay legal expenses in an asbestos-related case, according to the law …
The Arizona Senate has voted to make it harder to successfully sue emergency medical providers for alleged malpractice. The Senate’s 21-8 vote approving a bill to raise the required burden of proof for claims of negligent care sends the measure …
Texas Gov. Rick Perry has called a special session of the Texas Legislature that will begin July 1. One of the primary issues lawmakers will consider is continuing the operations of five state agencies, including the Texas Department of Insurance. …
Cincinnati, Ohio-based Great American Insurance Group announced that its Ocean Marine Division, is offering a new policy endorsement that recognizes the efforts of insured marina owners who achieve and maintain “Clean Marina” status. “Clean Marina” status is awarded to marinas …
The Hartford Financial Services Group Inc. has appointed Jeff Lange as regional vice president of The Hartford’s Chicago Regional Office. The office provides underwriting, sales and loss control services for the company’s independent property/casualty insurance agents and their customers in …
Legislation aimed at streamlining and reducing barriers in state regulation of surplus lines insurance and reinsurance has been introduced in the U.S. Senate. The Nonadmitted and Reinsurance Reform Act (NRRA) of 2009, or S 1363, would create a uniform regulatory …
More than 3,400 Americans will be injured or killed by a defective Chrysler or General Motors vehicle during the first year of the car makers’ bankruptcies, according to a report by a consumer safety advocacy group. The report predicts that …
