Insurers like writing commercial auto business, and most lines of business, in the Midwestern states because of market stability and a favorable legislative and regulatory climate. But even in this typically stable line of business, tort reform is needed to …
The Indiana Supreme Court last month ruled that insurance policies are not obligated to compensate damaged property for decline in value of the property after adequate repairs have been made. The insurance industry views the ruling as a major clarification …
Twenty-two people died and about 230 were injured when a tornado touched down in southern Indiana and Kentucky during the early-morning hours of Nov. 6. Initial estimates by local insurance adjusters put property damage as high as $10 million. The …
Several top insurance executives discussed the ramifications of Hurricane Katrina and other natural disasters in a panel discussion last month at the annual meeting of the Property Casualty Insurers Association of America. The CEOs shared their experiences and opinions on …
I was in Tempe, Arizona at the fifth annual Target Markets Program Administrators Association meeting last month when Hurricane Wilma was threatening to hit. Even though Mexico took the brunt of Wilma’s fury, resulting in a “mere” $10 billion or …
Regulatory reform, terrorism insurance and the eventual impact of record-breaking natural disasters were the main topics of discussion at the annual meeting of the Property Casualty Insurers Association of America, held in Chicago last month. In opening remarks by PCI …
Taking up the banner for the current state-based insurance regulatory system in the face of sometimes hostile critics, Maine Superintendent of Insurance Alessandro Iuppa defended the system and approaches taken by the National Association of Insurance Commissioners (NAIC) to expedite …
Although we’ve heard it many times before, the insurance agency business is on the cusp of huge changes, driven in part by technology, a host of new and better insurance products and increased stability on the part of insurers due …
Once again, numbers released this month show that it’s great to be living in the Midwest. The National Association of Insurance Commissioner’s (NAIC) most recent study of average auto premiums for 2003 once again puts most Midwestern states well below …
As leaves begin to fall in the Midwest, city dwellers are making an exodus to quaint towns like Galena, Ill. and Dubuque, Iowa to soak up the autumn colors and ambiance. For many, their stays center around a country inn …
