Insurance companies have paid out $1.13 billion in claims from the Joplin tornado, and that’s expected to climb to as much as $1.9 billion, the state’s insurance department director said. An estimated 7,500 homes were destroyed in the May 22 …
The U.S. Department of Health and Human Services has rejected Indiana’s bid for an exemption from federal health care overhaul rules that require insurers selling policies to individuals to essentially dedicate 80 percent of the premiums they collect to medical …
A Florida judge has ordered a homeowners’ insurer to shut its doors and hand its business affairs over to the state after state regulators found it no longer has enough money to pay its bills. Florida’s Division of Rehabilitation and …
New York City Department of Transportation announced on Tuesday a new traffic safety campaign called “Curbside Haiku.” The department is installing 216 signs featuring colorful artwork and haiku poems at high-crash locations near cultural institutions and schools citywide. “We’re putting …
Hiscox has launched a terrorism liability product designed specifically for healthcare risks such as hospitals, physician offices, researchers and long-term care providers. The carrier says the product, which was designed by the Hiscox Bermude healthcare team, is the first specific …
The renewable energy sector needs to improve risk management and access alternative sources of capital as operational risks rise and governments cut funding due to the uncertain economic environment. Based on a survey of 284 senior-level renewable energy executives, a …
Global insurance broker Willis Group Holdings has appointed Scott Pickering as CEO of Willis South Africa. Pickering is currently president of Willis Asia Pacific, Middle East and Africa and he will remain president of the wider region. The company said …
Global insurer and reinsurer XL Group plc said that Greg Hendrick will become chief executive of XL’s insurance segment upon the retirement of Dave Duclos, the current insurance head. Hendrick, currently XL’s executive vice president for strategic growth, will assume …
A North Carolina man has been sentenced to four years in a Florida prison and ordered to pay more than $3.1 million in restitution after pleading guilty in a workers’ compensation fraud case, according to officials. Florida Chief Financial Officer …
Foreign insurers will have to answer for themselves whether their disadvantaged position relative to domestic insurers in China is outweighed by the country’s very substantial overall market growth, according to Moody’s Investors Service. “Foreign firms have made little headway in …
