The Maryland Court of Appeals, the state’s highest court, ruled in favor of Allstate last week. It upheld a previous lower court’s ruling that the insurer was within its rights to stop writing new homeowners policies in coastal areas of …
Chubb Corporation said its commercial insurance renewal rates were up 6 percent in the 2011 fourth quarter, as the pace of renewal rate increases continues to accelerate. Chubb also said it secured renewal rate hikes in professional liability lines for …
The Chubb Corporation reported fourth-quarter net income of $452 million, down 27 percent from $620 million net income reported during the same period one year ago. The Warren, N.J.-based insurer said the results were hurt by catastrophe losses as well …
New Jersey and New York have the worst tax climates in the nation for business, according to a new report by the Tax Foundation,a Washington, D.C.-based research firm. Two other Northeastern states, Vermont and Rhode Island, also scored poorly. Vermont …
Massachusetts Attorney General Martha Coakley is opposing a recently proposed home insurance rate request for 150,000 consumers, calling it illegally excessive. She made her remarks during her testimony before the commissioner of insurance last week. The rate hikes are proposed …
New Jersey’s Department of Banking and Insurance has amended some 25 percent of its personal injury protection (PIP) rule proposals, after reviewing and incorporating recommendations from a mountain of public comment letters it has received. The department said last week …
Travelers Companies Inc.’s business insurance had renewal premium rate gains of 8 percent for the fourth quarter 2011 and 10 percent for December, said CEO Jay Fishman. He offered his remarks during the company earnings call held yesterday. Travelers has …
Nationwide is brushing off Liberty Mutual’s allegation that Nationwide’s pending acquisition of Harleysville Mutual would unfairly benefit subsidiary Harleysville Group’s stock shareholders at the expense of Harleysville Mutual policyholders. In particular, Liberty Mutual noted in its comment letter to the …
Delaware Insurance Commissioner Karen Weldin Stewart expressed concern for soon-to-retire Baby Boomers (those born between 1946 and 1964), many of whom will face the uncertain prospect of finding alternative health insurance coverage until they reach the age of 65 when …
Two American International Group units — Chartis U.S. Accident and Health, and American General Life Companies — are planning to merge their group benefits businesses into a single, unified organization. The consolidated unit will market insurance and benefits products for …
