The Texas Windstorm Insurance Association has only about $3.6 billion in claims-paying resources “under a best case scenario,” even though it could face losses of $14.2 billion from a Category 4 hurricane striking Galveston or $14.3 billion from a similar …
It’s almost time. After seventeen (count ’em–17) short-term extensions, almost a half dozen lapses in the program, and tons of political wrangling, a flood insurance reform bill–a real one–is going to come to the Senate floor as soon as tomorrow. …
Concord, Calif.-based Jenkins Insurance Group named Hale “Chip” Holden III a vice president. Holden’s primary focus will encompass commercial insurance for large corporate accounts. With more than 30 years in the insurance industry, Holden’s background includes experience as a broker, …
As Hurricane Season begins, Privilege Underwriters Reciprocal Exchange (PURE) has launched a flood coverage suite to owners of well-built, high-value homes across most of the United States. PURE Flood Solutions is a customizable offering that allows PURE members (policyholders) to …
A settlement agreement has been reached in an enforcement action against Travelers Cos., with the company agreeing to pay $9 million in refunds to policyholders who were overcharged on their premiums, as well as a $1.5 million fine, the California …
After months of investigation, federal regulators have determined that design flaws appear to be the cause of excessive wear in tubing that carries radioactive water through California’s troubled San Onofre nuclear power plant, a top federal regulator said. The twin-reactor …
Berkley Life Sciences, LLC, a member company of W. R. Berkley Corp., has released a new insurance created to address attempts to hold pharmaceutical and medical device companies liable because their drugs, devices or other life science products or components …
A Missouri woman has been sentenced to eight years in prison for helping plan her husband’s murder with the church pastor who was her lover. Her husband, David Stone, was an insurance agent. Forty-year-old Teresa Stone, of Independence, pleaded guilty …
A former Greenfield, Massachusetts, attorney was convicted Monday in connection with stealing over $186,000 from an elderly couple he represented in a personal injury settlement involving an auto accident, according to state officials. Massachusetts Attorney General Martha Coakley’s office said …
Former billionaire Allen Stanford was sentenced in Houston to 110 years in prison on July 14 for running a $7 billion scheme in which he stole money from his investors to finance an extravagant lifestyle in the Caribbean. His attorneys …
