Illinois Attorney General Lisa Madigan sent a letter at the end of April to U.S. Senate members urging them to oppose a bill that would dramatically change the health insurance marketplace by preempting state-mandated benefit coverage, gutting important state consumer …
California Gov. Arnold Schwarzenegger declared the sweeping workers’ compensation changes he pushed through the Legislature two years ago a “huge success,” but critics called them a disaster for injured workers. “Governor Schwarzenegger broke his promise to protect injured workers,” said …
Adhering to the Texas Tax Reform Commission’s recommendations, five bills aimed at providing long-term property tax relief passed the Texas House of Representatives in late April. While the tax reform legislation lowers the property tax rate, it broadens the scope …
The United States’ disaster response agency should be abolished and rebuilt from scratch to avoid a repeat of government failures exposed by Hurricane Katrina, a Senate inquiry has concluded. Crippled by years of poor leadership and inadequate funding, the Federal …
The 2006 hurricane season is looming and the insurance industry already sees dark clouds on the horizon. The Texas Windstorm Insurance Association is considerably under-funded in the event a major hurricane makes landfall in Galveston or Corpus Christi. Last year …
Spending for loss control services increased or remained flat for a majority of organizations in the past year, and the greatest spending increases occurred in such areas as disaster preparedness and catastrophe management, according to the Internet-based 2006 Loss Control …
In the aftermath of a large F-3 to F-4 tornado, hundreds of carriers and insurance agents in northern Tennessee and southern Kentucky are paying hundreds of claims. The storm formed April 7 at about 7 p.m., touching down in three …
The American Academy of Actuaries, in response to questions posed by the President’s Working Group on Financial Markets, has submitted its terrorism risk insurance analysis, which concludes that a national framework for terrorism risk is necessary if terrorism coverage is …
Risk Management Solutions has defended its hurricane risk models in the face of consumer groups’ criticisms that the models are more political than they are scientific and that they are designed to justify insurance premium increases. RMS declined to address …
U.S. property/casualty insurers managed to increase earnings and add to their capital base in 2005 despite record catastrophe losses, according to Insurance Services Office (ISO) and the Property Casualty Insurers Association of America (PCI). Sound risk management and strong investment …
