In a briefing today with interested parties, the Senate Banking Committee’s chairman and ranking member confirmed that Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., have agreed to a deal that will allow flood insurance reform …
U.S. Rep. Elijah Cummings, D-Md. – the former chairman and current ranking Democrat on the House Oversight and Government Reform Committee – has some issues with American International Group. And generally speaking, we can’t blame him. Back in 2009, he …
When one strips away the posturing and insinuations of sinister corporate conspiracies contained in the new report on auto insurance rates from the Consumer Federation of America, you’re left with a pretty simple conclusion: If you shop around for things …
The Texas Windstorm Insurance Association has only about $3.6 billion in claims-paying resources “under a best case scenario,” even though it could face losses of $14.2 billion from a Category 4 hurricane striking Galveston or $14.3 billion from a similar …
It’s almost time. After seventeen (count ’em–17) short-term extensions, almost a half dozen lapses in the program, and tons of political wrangling, a flood insurance reform bill–a real one–is going to come to the Senate floor as soon as tomorrow. …
Meet Barry Gilway, 66, Florida Citizens Property Insurance Corporation’s new president. Given the challenges ahead, I don’t know whether or not to congratulate him. Gilway has over 40 years of experience in the insurance industry, including heading the Seattle-based Mattei …
It’s pretty clear that Florida’s state-run property insurance system is a total mess in just about every way. As Ray Lehmann, me, and others have written the legislature–given sufficient political will–could solve these problems. But, to date, they just haven’t. …
Connecticut is the latest state to liberalize collateral requirements for foreign-based reinsurers, and California could be next on the list, after a similar bill passed that state’s Senate. Connecticut Gov. Dannel Malloy on June 4 signed Public Act 139, a …
The board of governors of Florida’s Citizens Property Insurance Corp. pulled off not one, but two shockers in the past 24 hours with respect to its choice of a new permanent president to lead the state-run insurer. First, the board …
You have to hand it to the Palm Beach Post. First, the paper sends out a reporter to a press conference with Gov. Rick Scott to ask his opinion of a “national windstorm pool,” and builds an entire story (no …
