Contingent commissions for agents and brokers should be watched by regulators but these profit-sharing arrangements do not necessarily have to be eliminated, according to a leading insurance consumer advocate. “I think they need to at least be regulated and moderated,” …
A federal judge has denied State Farm Fire & Casualty Co.’s request for a new trial in a Hurricane Katrina case that could cost the company more than $1.2 million. Judge L.T. Senter Jr. saw no reason to grant a …
Connecticut’s venerable insurance industry was celebrated at the state Capitol this month, though its lackluster job growth also was noted. “The industry is as significant a part of Connecticut as it has been in earlier years,” Ronald A. Williams, chief …
Tennessee counties are in the process of a five-year plan to update old flood maps, but some homeowners are concerned the new versions could lead to lowered home values and the need for additional insurance. Shannon McDonald lives in a …
Rhode Island’s estimated budget deficit could grow by almost $100 million because of a stalled settlement with an insurer accused of deceptive business practices, state officials warn. As part of a massive settlement reached last year, American International Group Inc. …
Fire scientists are predicting an above-average wildfire season from May through August 2007, according to the National Interagency Fire Center Predictive Services Group based in Boise, Idaho. In its “National Wildland Fire Outlook,” the group said “significant fire potential is …
An Oklahoma surgeon said he will not treat legislators who voted against a bill to curb malpractice insurance rates and suggested they go to Texas for surgical procedures. Unless it is an emergency, Dr. Peter S. Hedberg said he will …
The Travelers Companies, Inc. has set up a multi-year catastrophe bond program to provide reinsurance protection for its insurance subsidiaries for losses resulting from hurricanes and certain other catastrophes in the U.S. Travelers may obtain reinsurance under the program by …
Hawaii Gov. Linda Lingle handed state employers a victory this month, when she vetoed House Bill 854. The bill would have required wage loss or temporary total disability payments continue to be paid even during a dispute, only to be …
State Farm Fire and Casualty Co. has agreed to reopen and possibly pay claims for about 350 policyholders in Louisiana whose homes were destroyed by hurricanes Katrina or Rita, the company announced recently. State Farm patterned its agreement with Louisiana …
