Monthly Archives: <span>July 2014</span>

Financial Firms Want More Time to Review U.S. Consumer Complaint Proposal

The federal government is proposing a new policy that would allow consumers to publicly post their complaints about consumer financial products and services. Under the proposal by the Consumer Financial Protection Bureau (CFPB), consumers would have the option to share …

Rains Good, Lightning Bad for Biggest Wildfire in Washington History

People afflicted by the massive Carlton Complex fires in north-central Washington may get some relief tonight and over the next few days in the form of wetter, cooler weather. But then again the system moving in may bring lighting, which …

Same Day, Different Court Obamacare Subsidies Upheld

Two U.S. appeals courts reached opposite conclusions on the legality of a key financing provision of the Affordable Care Act, increasing the chance of another showdown at the Supreme Court over President Barack Obama’s signature healthcare law. In majority ruling …

Apollo’s Life Insurance Unit Athene Holding Said to Be Examined for Caesars Link

Apollo Global Management LLC’s dual stakes in an insurer and the largest operator of U.S. casinos are drawing scrutiny by New York’s top financial regulator, who doesn’t want policyholders exposed to the gambling firm’s debt, a person briefed on the …

Fired Oregon Police Chief Sues City Over Military Service

The recently fired police chief of a central Oregon town says he was undone by an ambitious deputy who had eyes for his job and a city government that resented the leave he took for military service. Former Prineville Police …

Alabama’s Volunteer Fire Departments Not Alone in Recruiting Struggles

They’re often the first ones on the scene of major emergencies, but their numbers appear to be dwindling. Volunteer firefighters help communities in ways both obvious β€” fighting firesβ€” and overlooked β€” improving communities’ home insurance rates through ISO ratings. …

Florida Frets That With Proposed Rate Cut, Citizens Could Be Too Competitive

Florida’s state-backed property insurer’s proposed rate reduction is raising questions about whether it will make the insurer competitive with the private market. Citizens Property Insurance Corp. recently proposed 2015 rates that include a statewide average 2.9 percent rate decrease on …

Travelers Posts $683M Q2 Profit, Misses Estimates as Catastrophe Losses Rise

Property and casualty insurer Travelers Cos. Inc.’s quarterly earnings fell short of analysts’ estimates as hail and wind storms in the United States increased catastrophe losses. The company, a Dow Jones Industrial Average component, said net income fell to $683 …

Court Orders Travelers to Pay $500M in Johns-Manville Asbestos Claims

A federal appeals court on Tuesday ordered Travelers Cos. Inc. to pay more than $500 million to satisfy asbestos-related claims stemming from the insurer’s coverage of insulation maker Johns-Manville Corp., a policyholder that spent six years in bankruptcy during the …

Donegal Group’s Q2 Profit Declines 26% to $1.9M

Donegal Group Inc. in Marietta, Pennsylvania, today reported $1.94 million net income for its 2014 second quarter, a decline of 26 percent from $2.63 million net income posted during the 2013 second quarter. The insurer said its second quarter earnings …