A woman who sued after surgery for a broken leg left her partially paralyzed has been awarded $19.2 million by a federal court jury in Chattanooga that also returned a $3 million verdict for her husband. The Chattanooga Times Free …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Farmers Insurance Group and its members. Best also affirmed the debt ratings on the outstanding surplus notes of Farmers …
South Carolina’s highest court has overturned an $18 million verdict against Ford Motor Co. in a fatal crash, ruling that one expert shouldn’t have been allowed to testify about cruise control problems. Sonya Watson, 17, was paralyzed after losing control …
Last week Florida asked for federal financial assistance for thousands of homeowners with property damage caused by defective Chinese drywall. But the Federal Emergency Management Agency, which typically deals with hurricanes and other natural disasters, isn’t going along. The state …
A bulletin from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) indicates that many of its member countries “are re-examining their preparedness for natural catastrophes, including their levels of coverage under CCRIF.” There are currently sixteen Caribbean governments, who, since 2007, …
UK broker Miller, a specialist independent insurance and reinsurance broker, announced the appointment of Neil Higgins, as a global facultative reinsurance specialist. Mike Papworth, Head of Facultative Reinsurance at Miller noted Higgins “very strong reputation in the London market,” and …
A federal judge in Texas has set aside a $100 million verdict against BP Plc., saying 10 workers who sued the oil company after they were sickened by a chemical release did not prove BP was grossly negligent. Last December …
U.S. Senate Banking Committee Chairman Christopher Dodd introduced his latest bill to overhaul the financial system on Monday. The committee is expected to work on the bill next week and it will likely change dramatically. Below are some of the …
The new financial reform bill introduced in the U.S. Senate will likely be approved at the committee level next week, but its shape could change substantially once it comes before the full Senate and winning Republican support comes into play, …
Nearly one in four Californians under age 65 lacked health insurance during all or part of last year, well above the latest national average, in a trend fueled by shrinking coverage due to mounting job layoffs, a new study Tuesday …
