American International Group disclosed in its annual report that Chartis management decided last year to cease writing excess workers’ compensation business as a stand-alone product — as “part of its on-going initiatives to reduce exposure to capital intensive long-tail lines.” …
The assessment surcharge added to workers’ compensation costs for New York employers is increasingly becoming a burden for businesses, according to a new study. In New York State, the assessment surcharge is currently 20.2 percent — which is more than …
A surprisingly large number of U.S. teen drivers admit to having driven under the influence of marijuana, according to Liberty Mutual Insurance and SADD (Students Against Destructive Decisions). Liberty Mutual in Boston said this week that a survey shows 19 …
Authorities are describing the takedown of a massive auto insurance fraud ring in New York the largest of its kind involving New York’s no-fault law. The fraud scheme involved 10 licensed medical doctors, three personal injury lawyers, thousands of patients, …
Federal and local authorities in New York unveiled charges today against 36 defendants — including 10 doctors and three attorneys — allegedly involved in a systematic scheme to defraud auto insurance companies of more than $275 million under New York’s …
The Pennsylvania Insurance Department announced last week it has formed a new consumer unit to respond to questions about health insurance. “This new unit supplements our health insurance complaint-handling functions,” said Insurance Commissioner Mike Consedine. “The unit will also allow …
AIG’s top executives struck an optimistic note as the insurer reported strong 2011 fourth-quarter profit results. CEO Robert Benmosche told analysts during a conference call this morning that AIG is regaining its strength and is moving in the right direction. …
A new study says 51 percent of the insurance carriers recently surveyed expect to increase staff in the next 12 months. But it’s not all good news: the survey also found that 19 percent of the carriers expect to reduce …
OneBeacon Insurance Group said today it completed the sale of its AutoOne business to Interboro Holdings Inc. of New York. The transaction, which was announced on Aug. 31, 2011, included AutoOne Insurance Company and AutoOne Select Insurance Company, along with …
Penn State has filed a countersuit against its primary general liability insurer, Pennsylvania Manufacturers’ Association (PMA) Insurance Co. PMA had filed for declaratory judgment on Jan. 31, arguing that the Blue Bell, Penn.-based insurer should not have to pay for …
