To some outsiders, insurance agents appear to be threatened with obsolescence. Commoditized products, the extensive information available online and the decreasing value placed on personal relationships could lead insureds to devalue the role of agents and instead make decisions largely …
Insurers are defending the factors they use in pricing auto insurance, including the occupation and education levels of insureds, arguing that the criteria have been actuarially tested for their ability to predict losses. When they are allowed to use what …
Why don’t directors and officers insurers insist on corporate governance reform from their insureds as a precondition of coverage, the way property and workers’ compensation insurers condition their coverage on loss prevention measures? This perennial question is examined in a …
A Chicago development group is suing heiress Nicky Hilton for breach of contract over a delayed hotel renovation project just south of the city’s downtown. In a lawsuit filed in federal court, Robert Falor Investments and Grand USA Hotel Supply …
Battered but not beaten, Mississippi focuses on helping people A former high school principal, George Dale is now the longest serving state insurance commissioner in the nation. He has been elected by the people of Mississippi since 1975 and recently …
The Independent Insurance Agents and Brokers of America (the Big “I”) says the debate over windstorm coverage is crucial for consumers and independent agents and brokers in many regions around the country. However, the group stopped short of endorsing a …
Alarmed that homeowners on Maryland’s coasts may one day be cut off from home insurance, state lawmakers are mulling new rules prohibiting insurers from pulling out of areas they deem risky. But insurers met with lawmakers recently to tell them …
The Ohio Department of Insurance recently announced that the average rates for the state’s top 10 auto and homeowners insurers — which represent 72 percent of both markets — decreased 1.2 percent and 0.8 percent, respectively, in 2006. Ohio has …
South Carolina Gov. Mark Sanford named and the Senate confirmed Sen. Scott Richardson of Hilton Head as the director of the Department of Insurance. Richardson, 55, was elected to the South Carolina Senate in 2000, and previously served in the …
Sen. Patrick Leahy, D-Vt., chairman of the Judiciary Committee, joined with Senate Democratic and Republican leaders earlier this month to introduce a bipartisan bill that would strip the insurance industry of its limited antitrust exemption. Leahy introduced the Insurance Industry …
