Federal legislation that encourages states to pool their catastrophe pool risks and then transfer them to the private market has been greeted with a lukewarm insurance industry reaction at best and outright opposition from the Bush Administration. The bill, H.R. …
Maryland Gov. Martin O’Malley named attorney and long-time advisor Ralph S. Tyler to be the state’s insurance commissioner responsible for overseeing the regulation of Maryland’s $26 billion insurance industry. Tyler had been serving as chief legal counsel for the O’Malley-Brown …
With $7.3 billion in premium, Liberty Mutual Agency Markets becomes the largest regional independent agency force Boston-based insurance giant Liberty Mutual Group is now the largest regional provider of property and casualty insurance distributed through independent agents in the country. …
The Catholic Diocese of Santa Rosa has agreed to pay more than $5 million to settle a sex abuse lawsuit involving fugitive priest Xavier Ochoa and 10 alleged victims. The diocese will pay the plaintiffs $5 million from insurance funds …
Premiums for employer-sponsored health insurance rose an average of 6.1 percent in 2007, less than the 7.7 percent increase reported last year but still higher than the increase in workers’ wages (3.7 percent) or the overall inflation rate (2.6 percent), …
Federal agents arrested and charged 11 New Jersey local public officials with taking bribes in exchange for giving public contracts to a fake insurance brokerage set up by investigators. The investigation netted five members of the same local Atlantic County …
For agents, the Liberty Mutual Agency Markets acquisition of Ohio Casualty promises to be a matter of addition, not subtraction. For the most part, Ohio Casualty’s 3,400 agents will join with and not replace or be replaced by Liberty Mutual’s …
Losses from golf-ball-sized hail in Pueblo and Colorado Springs, Colo., in August has been tallied at $60 million, making it the state’s costliest hail storm in three years. The Rocky Mountain Insurance Information Association said insurance companies expect claims from …
The Progressive Corp. in Mayfield, Ohio, is consolidating management of its two distribution channels for personal lines. Since 2000, Progressive’s personal lines segment has been organized into two businesses — the agency business and the direct business. The company said …
Massachusetts Insurance Commissioner Nonnie Burnes says four insurers not now writing auto insurance in the state have said they might enter if her plan to allow competitive pricing goes forward. Burnes is not naming the companies but when asked if …
