Caribbean countries joined by outside donors and international and regional organizations established a $47 million insurance pool to soften the blow from earthquakes and hurricanes. Called the Caribbean Catastrophe Risk Insurance Facility, the program grew out of member governments’ determination …
Property/casualty insurance companies need to do a better job of implementing enterprise risk management, according to a recent study by Ernst and Young LLP. In its recent quarterly outlook addressing key trends and issues facing insurers, Ernst and Young identified …
State Farm Mutual Automobile Insurance Co. recently announced it will pay $1.25 billion in dividends to its mutual auto insurance policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick. Policyholders in 12 Midwestern states …
State lawmakers ready to exceed or outpace last year’s total Enacted catastrophe-related laws increased dramatically in the states last year, according to the annual survey of state insurance laws prepared by an insurance group. “Ten states enacted 17 catastrophe-related bills …
Injured Nevada workers could face required drug tests to prevail in insurance disputes, under an industry-backed proposal debated by state legislators. The Senate Commerce and Labor Committee recently heard testimony on SB54, which would change workers’ compensation rules so that …
The Chicago Mercantile Exchange, the largest derivatives exchange in the United States, recently announced that it is launching contracts that will allow insurers and others to hedge risk against hurricane damage. The exchange, a unit of CME Holdings Inc., is …
Safety advocates say move will endanger motorists and could threaten national security The news that Mexican trucks will be allowed to haul freight deeper into the United States drew an angry reaction from labor leaders, safety advocates and members of …
Agents with the Federal Bureau of Investigation’s Art Crime Team (ACT) have located an original Norman Rockwell painting, “Russian Schoolroom,” stolen during a burglary in Clayton, Mo., in 1973. It was found in the home of movie mogul Steven Spielberg, …
Former NBA Chicago Bulls star Scottie Pippen must pay a bank more than $5 million in a breach of contract lawsuit involving a loan for a business jet, an appeals court ruled. The recent ruling by the Missouri Court of …
Rating and industry analysts at A.M. Best are maintaining their stable outlook for the personal lines property/casualty segment in 2007 based on what they see as this sector’s continued favorable risk-adjusted capitalization and ongoing operating profitability. They estimate that the …
