Federal prosecutors want to block Massey Energy Co. shareholders from reviewing documents gathered during civil and criminal investigations into last April’s deadly explosion at the Upper Big Branch Mine in West Virginia. Shareholders are suing Virginia-based Massey, its officers and …
Bermuda-based Majestic Capital Ltd. announced that Bayside Capital Partners LLC has terminated the previously announced merger agreement with Majestic Capital. In its termination notice, Bayside cited a material deterioration in Majestic Capital’s capital surplus, an inability to secure regulatory approval …
Two lawmakers have introduced separate but similar bills aimed at reforming the troubled state-backed wind risk insurer for property along the Texas coast. At a packed hearing on Mar. 15, Texas House of Representaives Insurance Committee Chairman Rep. John Smithee …
A Nevada bill giving patients a time cushion to file an expert witness affidavit required for medical malpractice lawsuits was touted by backers on Mar. 17 as an issue of fairness and opposed by medical groups as undermining the spirit …
Rep. Mike Sells didn’t mince words. The Everett, Wash., Democrat doesn’t plan to allow a hearing in his committee on a state Senate bill that would allow settlements for injured workers under the state’s compensation system. “It’s not a well …
Soft Market Ending, Finally? Could the soft market finally be over? A new analysis concludes that insurance prices are rising and the prolonged soft market is ending, contrary to earlier reports from other analysts. Virginia-based SNL Financial says personal lines …
Nearly one year after a federal law overhauling the nation’s health care system was enacted, Missouri lawmakers have taken a small step toward implementing some of its provisions by creating a health insurance exchange. The exchange would allow individuals and …
The governing board of Louisiana’s insurer of last resort has approved an average 6.5 percent annual rate increase for its 119,000 homeowners’ policies. Higher rates for those homeowners covered by Louisiana Citizens Property Insurance Corp. go into effect July 1. …
State lawmakers have approved a model law for the trucking and courier industries that sets guidelines for who is an independent contractor and who is an employee. The National Conference of Insurance Legislators (NCOIL) adopted the measure at its spring …
The North Dakota Insurance Department says fraud referrals have been doubling since 2008. The Jamestown Sun reports that the 94 referrals in 2010 totaled more than $1 million in suspicious claims. North Dakota Insurance Commissioner Adam Hamm says times are …
