Regulators in three states are investigating whether the owner of a tour boat that capsized on New York’s Lake George and killed 20 elderly tourists was the victim of an insurance scam. Texas, New York and Florida investigators are trying …
Wyoming legislation designed to allow unprecedented insurance-related lawsuits in the state would significantly increase fraud, lawsuits and insurance costs for Wyoming consumers, according to the Property Casualty Insurers Association of America (PCI). The proposal, Senate Bill 68 introduced by Sen. …
While some believe government action may be necessary to keep New York’s homeowners insurance market from falling into a crisis, others note that the state’s public policy already incorporates a number of protections for consumers and private incentives. The biggest …
The Property Casualty Insurers Association of America (PCI) testified before the Colorado House Business Affairs and Labor Committee that legislation HB 1330, which would impose extensive new data reporting requirement on property casualty insurers, would not help consumers make more …
Minnesota sued insurer American International Group Inc. last week rather than accept a settlement that could have been worth $1.2 million. Attorney General Mike Hatch said he estimates the state could be owed as much as $10 million, so he …
Washington Senate Democrats have approved a bill that would permanently change unemployment laws to pay additional benefits to seasonal workers. The measure, which passed on a 25-22 vote, reverses the state’s move toward “four-quarter averaging” in which unemployment benefits are …
Dry conditions this year and heavy moisture last year could combine to make Arizona’s imminent wildfire season the most devastating yet, experts told Arizona Gov. Janet Napolitano at a roundtable discussion. Wildland fire experts expect fires to occur in both …
The National Association of Mutual Insurance Companies (NAMIC) and the insurance industry are working with the New Mexico Public Regulation Commission to finalize and implement proposed rate regulations that would convert the commercial lines of insurance to a “file and …
As part of its record $1.6 billion overall settlement with state and federal officials for fraud and improper accounting, American International Group will pay states $343.5 million for underpayment of workers’ compensation premiums taxes and residual market assessments. The combined …
State and federal regulators on Feb. 9 announced agreements that resolve litigation and investigations of securities fraud, account steering, bid-rigging, improper accounting and under-reporting of workers’ compensation premiums by giant insurer American International Group. Under the agreements, AIG will pay …
