The Massachusetts Property Insurance Underwriting Association (“FAIR Plan”) said its board of directors will meet next week to decide whether to file an appeal to challenge Insurance Commissioner Joseph G. Murphy’s decision to reject a rate increase request. The state-created …
A federal bankruptcy judge has set an Aug. 1 deadline for financial claims by West Virginia residents and businesses affected by a January chemical spill in Charleston that contaminated the local water supply. Proof of claims forms can be obtained …
A federal judge has tossed out a Catholic broadcaster’s legal claim that requiring employers to include contraception in their health care coverage is unconstitutional. U.S. District Judge Callie Granade issued the order in a lawsuit filed by the Eternal Word …
The West Virginia Supreme Court has slashed by more than half the multimillion-dollar damages a jury levied against a Charleston nursing home in connection with a former resident’s death. In a 76-page divided opinion released, the justices reduced the penalty …
The House Financial Services Committee today voted to report out a bill to extend the federal terrorism insurance program for another five years. The bill also contains some reforms of the Terrorism Risk Insurance Act (TRIA) and an insurance producer …
The American Insurance Association (AIA) has endorsed the negotiations underway in Geneva for the adoption of the Trade in Services Agreement (TiSA) initiative, as the PCI recently did. In a letter to Ambassador Michael Froman, the U.S. Trade representative, AIA …
Surging floodwaters following record rainfall in eastern Bulgaria left at least 11 people dead and destroyed houses, roads and railroad tracks. Ten people died and three are missing after a sudden wave of accumulated water in a ravine swept across …
A bulletin on the website of the Association of British Insurers (ABI) notes that a “nationwide operation into suspected fraudulent travel insurance claims led by the City of London Police’s Insurance Fraud Enforcement Department (IFED) has resulted in 11 arrests. …
Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., a part of JLT Towers Re, announced its second Market Re private placement cat bond (Market Re 2014 -2), which closed at $31.825 million. JLT said the “new bond provides one year indemnity-based …
Insurance Australia Group Limited (IAG) announced that it has received the required regulatory approvals from the Commonwealth Acting Assistant Treasurer for its acquisition of the Wesfarmers insurance underwriting business. IAG expects to complete the transaction on June 30, 2014. Managing …
