Currents

Texas judge’s ruling partially favors Allstate and Sterling

Allstate and Sterling Autobody Centers can communicate benefits of its shops, a federal district judge in Texas has ruled. In a news release, Allstate reported that on March 9, 2006, the judge in Allstate, et al. v. Abbott, et al. …

Senators introduce Optional Federal Charter legislation

Citing bipartisan support to revamp the insurance industry regulatory system, two U.S. senators unveiled legislation that would allow life and property/casualty insurers to choose federal rather than state regulation under an “optional federal charter” system. U.S. Sens. John Sununu (R-N.H.) …

Judge rejects Allstate request to dismiss hurricane lawsuit

A federal judge in Gulfport, Miss., has refused to throw out a lawsuit that a couple filed against Allstate Insurance Co. after the insurer refused to cover damage to their home from Hurricane Katrina. The lawsuit, filed by Elmer and …

Stolen Fidelity laptop computer held sensitive data on retirement accounts

A laptop computer belonging to Fidelity Investments and containing sensitive data on about 196,000 retirement-account customers was stolen, the company said. The nation’s largest mutual-fund manager confirmed reports that the computer held information on participants in Palo Alto, Calif.-based Hewlett-Packard …

Younger adults and those earning above $75K most likely to suffer ID theft

Households headed by young people (18-24 years old), those in urban or suburban areas, and those with incomes of $75,000 or more were the most likely to experience identity theft, according to a new government survey. Victimization did not differ …

FAIA briefs agents about Florida bills, holds meetings with legislators

More than 120 of Florida’s independent agents who attended the March 29 and 30 Florida Independent Insurance Agents Legislative “Fly-In” heard Skip Long, Scott Johnson, Laura Pearce and Kyle Ulrich outline the pros and cons of legislation being considered in …

Bill will require study before Calif. auto rating factors can change

A bipartisan group of five assemblymembers joined with local elected officials and concerned citizens to support AB 2840, which they say will help ensure fair auto rates for all drivers. Supporters said the bill will be amended. Assemblymembers John J. …

U.S. tort costs reach a record $260 billion, Tillinghast study reports

U.S. tort costs reached a record $260 billion in 2004, or approximately $886 per person, according to the U.S. Tort Costs and Cross-Border Perspectives: 2005 Update from the Tillinghast business of Towers Perrin. This surpassed the previous record set in …

Contingent fees become focus in R.I. lead paint case

Former makers of lead paint went before the Rhode Island Supreme Court in Providence recently to prevent the state from honoring a contract with its private lawyers that is potentially worth tens of millions of dollars. A jury in February …

Safeco weighs Internet sales of auto insurance

Seattle-based property and casualty insurer Safeco is considering direct marketing its automobile insurance business on the Internet to reach additional consumers that don’t like to deal with a middle-man and purchase insurance through agents. According to Paul Hollie, Safeco spokes-man, …

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