New York Metropolitan Transportation Authority’s (MTA) captive insurer and wholly owned insurance subsidiary First Mutual Transportation Assurance Company (FMTAC) will lead coverage for liability for third party claims and property losses stemming from last week’s fatal MTA Metro-North Railroad train-SUV …
Connecticut Gov. Dannel P. Malloy, a vocal proponent of state-based insurance regulation in the U.S., sent a letter to U.S. Treasury Secretary Jack Lew and U.S. Trade Representative Michael Froman, urging them not to preempt states’ regulations in reducing collateral …
New York and Massachusetts in January became the latest states to enact laws to prohibit improper use of certificates of insurance. On Jan. 28, New York Gov. Andrew Cuomo signed into law a bill (A.9590/S.6545-A) that would standardize the practice …
The Hanover Insurance Group Inc. in Worcester, Massachusetts, reported $89.9 million net income for the 2014 fourth quarter, a 28 percent rise from $70.1 million income during the 2013 fourth quarter. The net income also increased on a full-year basis. …
New York and Massachusetts in January became the latest states to enact laws to prohibit improper use of certificates of insurance. On Jan. 28, New York Gov. Andrew Cuomo signed into law a bill (A.9590/S.6545-A) that would standardize the practice …
Winter Storm Juno — a blizzard that swept through the Northeast during the last week of January and brought record and near-record snowfalls and high winds — has resulted in relatively few insurance claims so far, according to industry participants. …
The Chubb Corp. in Warren, New Jersey, reported net income of $558 million for the 2014 fourth quarter, a 1.9 percent decrease from $569 million net income during the prior year fourth quarter. The operating income, which Chubb defines as …
Selective Insurance Group in Branchville, New Jersey, reported $41.35 million net income for the 2014 fourth quarter, a 63 percent increase from $25.34 million net income during the 2013 fourth quarter. The GAAP combined ratio for the fourth quarter was …
The New York Insurance Association (NYIA) is urging the New York state government to stop its practice of diverting assessments levied on New York-domiciled insurers to fund non-insurance programs and operations. NYIA said this month marks the five years since …
Insurance industry associations say Massachusetts’ newly developed rideshare regulations are vague and woefully deficient in addressing the insurance concerns. The regulations, crafted by Massachusetts Department of Transportation (MassDOT), were published in the Massachusetts Register on Jan. 16, according to the …
