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 …
California’s Conservation and Liquidation Office (CLO) will distribute $530 million to policyholders and claimants from the liquidated estate of the Mission Insurance Companies, California Insurance Commissioner John Garamendi announced. The latest amount brings the total amount distributed since 2003 to …
The extension of the federal Terrorism Risk Insurance Act represents solvency protection in extreme events but is not an industry subsidy, according to risk modeling experts at Risk Management Solutions and AIR Worldwide Corp. While it is impossible to predict …
Insurance professionals were asked to sharpen more than just their skis at the 2006 Peak Performance Ski Conference held Jan 25-28 in Vail, Colo. At the conference, reinsurance carriers, reinsurance intermediaries, professional employer organizations, third-party administrators, insurance carriers, national brokers, …
Colorado legislators are considering an amendment that would eliminate a requirement for auto insurance customers to purchase compulsory coverage to pay for emergency medical care services. The proposal was offered as an amendment to SB19 during a Senate Health and …
The extension of the federal Terrorism Risk Insurance Act represents solvency protection in extreme events but is not an industry subsidy, according to risk modeling experts at Risk Management Solutions and AIR Worldwide Corp. While it is impossible to predict …
The Congressional Budget Office is projecting a government cost of $1.5 billion through the next 10 years under the legislation extending the Terrorism Risk Insurance Act of 2005 (S. 467). However, despite weighing averages reflecting the probabilities of various outcomes, …
The FBI reports that 9 out of 10 organizations in the country are victims of some sort of computer security incident, and one-fifth are hit more than 20 times a year. Almost two-thirds suffer financial loss as a result of …
