A New Mexico insurance deputy has been placed on leave amid allegations he solicited charitable donations from a company that faced fines from regulators. Dan Mayfield, chief of staff for the state Public Regulation Commission, said Deputy Insurance Superintendent Joe …
If investors think they’re safe from the scandal involving the suspicious timing of executive stock option grants, they may want to consider this: Even if they aren’t invested in companies caught up in that mess, it could still cost them …
Federal and state governments need to work with insurance companies to sponsor disaster mediation programs before something happens, before people who have worked all their lives for everything they have, then all of a sudden, within minutes, they lose all …
The Workers’ Compensation Insurance Rating Bureau of California has completed its report summarizing insurer loss and premium experience through March 31, 2006, which suggested legislative reforms are working. “This report provides a high level view of the workers’ compensation market …
If a mandatory or even an optional Federal Charter is implemented in Washington, D.C., it will be a “recipe for disaster,” says Charles E. Symington Jr., Independent Insurance Agents and Brokers of America’s senior vice president of Government Affairs and …
On July 18 the Texas Department of Insurance announced that Vesta Fire In-surance Company (Vesta Fire) and its Texas subsidiary insurance companies were being placed into liquidation. Notices were sent out to agents to cease writing new and renewal insurance …
Explaining Seattle-based Safeco’s recent announcement that it would sell its products directly to consumers via the Internet, President and CEO Paul Rosput Reynolds said the company previously had been not “completely honest” about its sales distribution channels. “I felt very …
The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio–a key measure of losses and other expenses per dollar of premium–improved …
Louisiana Recovery Authority is considering going after insurance companies on behalf of homeowners who are having trouble with claims on their storm damaged homes. According to the Associated Press, Louisiana’s program to help rebuild or relocate may sue insurers for …
Contrary to popular belief, climate is not a good gauge for mold risk, according to a ranking of states at risk for mold contamination on commercial and residential property. Areas with dry climates such as Nevada and Arizona made American …
