The California Supreme Court has ruled that incentive compensation plans, calculated on profits, can subtract out costs for workers’ compensation costs from profits, even if it discourages employees from reporting workplace injuries. In Eddy Korkiat Prachasaisoradej v. Ralphs Grocery Co. …
The subprime mortgage lending blame game is in full swing — with people arguing about who’s at fault for mortgage defaults, bond losses and lender failures — but “we’re only in the very top of the first inning,” when it …
Beacon Mutual Insurance Co. will pay a $2.5 million fine, refund $7 million to policyholders and continue to implement various management changes as the result of a long-awaited audit by Rhode Island officials of the state’s biggest workers compensation company. …
Idaho’s Sun Valley Insurance is doing everything it can to keep claims at bay during wildfire season — including sending in a fire truck to cover million-dollar homes threatened by a wildfire outside the central Idaho resort town of Ketchum. …
Certain trial exhibits that were elemental in a recently settled wind vs. water case in Louisiana must remain part of the public record, a Louisiana district court judge ruled. United States District Judge Sarah Vance in New Orleans on Aug. …
With $7.3 billion in premium, Liberty Mutual Agency Markets becomes the largest regional independent agency force Boston-based insurance giant Liberty Mutual Group is now the largest regional provider of property and casualty insurance distributed through independent agents in the country. …
The California State Compensation Insurance Fund has selected Janet Frank to be its new president. Frank, currently executive vice president of North American Field Operations for CNA Financial, is scheduled to begin working at SCIF in October. SCIF noted it …
Many in the financial industry are speculating what could happen to insurance companies as a result of the subprime mortgage mess, but the truth is it may be too soon to tell. One of the hardest-hit lenders, Countrywide Financial Corp. …
For agents, the Liberty Mutual Agency Markets acquisition of Ohio Casualty promises to be a matter of addition, not subtraction. For the most part, Ohio Casualty’s 3,400 agents will join with and not replace or be replaced by Liberty Mutual’s …
A ruling by the Alaska State Supreme Court requiring insurers to re-rate all policies at the very first renewal as if credit information was never considered will have the unintended result of forcing good insurance risks to pay more — …
