South Carolina’s high court has left intact a state law that requires a builder’s general liability policy to cover damages from faulty workmanship, but ruled it cannot be applied retroactively to claims filed before the law’s May 2011 effective date. …
North Carolina Insurance Commissioner Wayne Goodwin announced an agreement with two insurers that will result in consumers receiving $1.6 million in refunds. American Modern Home Insurance Co. and its affiliate American Family Home Insurance Co. have agreed to pay the …
Florida insurance regulators are extending a process that fast tracks approval of insurance company forms. The Office of Insurance Regulation (OIR) says the extension until June 2013 is necessary due to limited resources and a backlog of requests. Insurance Commissioner …
A Florida administrative law judge has ruled that some forms used by insurers to determine a homeowner’s windstorm premium credits are invalid because they don’t take into account measures taken to protect existing homes and arbitrarily exclude steps taken to …
Georgia physicians are debating whether to push for a state constitutional amendment to reinstate a $350,000 cap on medical malpractice non-economic damages or scrap the current tort driven system in favor of a scheme similar to the one used in …
Florida officials are seeking answers after an internal investigation into the conduct of some former and current executives of the state’s largest property insurer yielded evidence of incomplete investigations into inappropriate behavior, favoritism and mismanagement of funds. Citizens Property Insurance …
Florida regulators have approved a statewide average rate increase of 14.9 percent for Allstate ‘s Florida unit, Castle Key Insurance Co. The change will apply to Castle Key’s existing homeowners, renters and condominium policies. Also, Castle Key Indemnity Co. received …
Georgia physicians are debating whether to push for a state constitutional amendment to reinstate a $350,000 cap on medical malpractice non-economic damages or scrap the current tort driven system in favor of a scheme similar to the one used in …
In the face of criticism, the top executive of Florida’s state-backed property insurer acknowledged that his decision to close the insurer’s office in charge of corporate oversight before having its replacement in place was ill-advised. Citizens Property Insurance Corp. executives …
Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal in November. State regulators also approved the …
