A settlement has been reached in an investigation that Texas Attor-ney General Greg Abbott says uncovered collusion between a Bermuda-based commercial casualty insurer and various U.S. insurance companies. The settlement amount in the antitrust case is $2.1 million, the AG’s …
Plaintiffs in a class action suit alleging bid rigging and account steering by commercial insurers and brokers have failed to show that the defendants’ actions amounted to fraud under federal racketeering statutes or that they violated federal antitrust laws, a …
Louisiana Governor Kathleen Babineaux Blanco and state Commissioner of Insurance Jim Donelon on April 11 unveiled a joint legislative package designed to attract new insurers to the state, drive down rates and protect consumers, the governor’s office announced. “While Louisiana …
Warning of another looming hurricane season, lawmakers including Florida Gov. Charlie Crist pleaded this month in Washington for a national catastrophe fund to help stabilize an insurance industry that some say has gone berserk in coastal areas. The Bush administration …
Water sports enthusiasts, motorcyclists and RV roadsters aren’t going to let high gas prices ruin their summer fun. They are willing to “pay to play” to keep their sporting lifestyles, according to a survey conducted by an Ohio-based national insurer. …
Some say private market insurance is sufficient, while others claim federal help is needed to solve a ‘national problem’ Two U.S. Senate committees — the Committee on Banking, Housing and Urban Affairs, and the Committee on Commerce, Science and Transportation …
The Nebraska Department of Insurance reported that it will no longer issue Home Office Employee licenses, which are limited lines licenses. The decision comes following a review of the department’s producer licensing lines of authority. Current Home Office Employee licenses …
The nation’s bank holding companies (BHCs) experienced a slight decline of 1.3 percent in their total insurance revenue from $44.1 billion in 2005 to $43.5 billion in 2006. Citigroup Inc. (N.Y.), Wells Fargo & Co. (Calif.), Countrywide Financial (Calif.), HSBC …
The U.S. population residing in hurricane-prone states continues to rise, a trend which is likely to impact adversely the nation’s coastal property insurance market for years to come, according to testimony by Dr. Robert Hartwig, president and chief economist for …
In early April lawmakers in Nebraska’s Unicameral Legis-lature broke a filibuster and gave first-round approval to a bill that could open parks that have closed following a state Supreme Court decision. State Sen. Ernie Chambers of Omaha fought the bill, …
