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, …
The Securities and Exchange Commission board has officially endorsed changes in the Sarbanes-Oxley compliance rules that should particularly benefit smaller companies. The SEC commissioners voted to allow more flexibility in the rules, particularly the guidelines developed by the independent board …
The Utah Supreme Court has found that a “party may recover under the doctrine of estoppel when an insurance agent makes material misrepresentations as to the policy provisions, the party reasonably relies on those misrepresentations in buying the coverage, and …
Ohio’s attorney general filed suit against 10 major U.S. chemical companies and paint makers, accusing them of continuing to make and sell lead paint while knowing it presented health hazards. State Attorney General Marc Dann sued 10 companies, including Sherwin-Williams …
What a difference a year makes. On March 29, Lloyd’s announced pretax profits for 2006 of $7.2 billion compared to the $202 million loss it posted in 2005. Lloyd’s also achieved an extremely good combined ratio of 83.1 percent, compared …
