You’ve heard the phrase: “If I could predict the future, I would be wealthy.” If our industry truly could do that, underwriting, rating and pricing would become the easiest tasks on the planet. Short of predicting the future, however, underwriters …
Delaware Commissioner of Insurance Matt Denn has taken arguments against insurance industry use of credit scoring to the U.S. Supreme Court, filing a brief in a pending case involving the practice. The amicus curiae, or “friend of the court,” brief …
The Workers’ Compensation Insurance Rating Bureau of California has completed its report summarizing insurer loss and premium experience through Sept. 30, 2006. The data seems to verify that workers’ compensation reforms are working to bring costs down. However, “there is …
A federal judge agreed in late December to transfer Missis-sippi Attorney General Jim Hood’s lawsuit against insurance companies over Hurricane Katrina damages from federal to state court. U.S. District Judge L.T. Senter Jr. ruled that Hood’s lawsuit belongs in state …
The federal flood insurance program may be going broke after incurring $20 billion in debt from recent storms like Hurricane Katrina. But that hasn’t stopped politicians from trying to extend the taxpayer-subsidized coverage for some of the riskiest — and …
Colorado’s Gov.-elect Bill Ritter announced he is appointing Manitou Springs Mayor Marcy Morrison, a Republican, as insurance administrator. And Idaho Gov.-elect Butch Otter said he would appoint state Rep. Bill Deal to head the state’s Department of Insurance. Morrison served …
Enrollment began Dec. 20, 2006, in Arkansas for a program partly paid by Medicaid dollars that will eventually offer insurance to 80,000 low-income workers. The Associated Press reported that health officials hope the initiative will cut down on the number …
P/C industry posts $24.4 billion net gain on underwriting in first three quarters of 2006 Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net …
The Drive Group of Progressive Insurance Companies is lowering auto insurance premiums in Colorado by an average of 5.2 percent for new customers effective Sept. 6 and existing customers effective Oct. 16, the company said. The Drive Insurance from Progressive …
Mexican trucker Brigido Moctezuma lives in a city just south of Mexico’s border with Texas, far from talks on whether he’ll be able to drive his loads of vehicle air bags all the way to assembly lines in Detroit. All …
