California’s Office of Administrative Law has approved “Reinsurance Accounting, Agreements and Oversight” regulations proposed by the Department of Insurance. The regulations set forth the principal requirements of substance and procedure in accounting for reinsurance on insurer financial statements, the general …
Why government should require insurance policies to declare what is not covered I have introduced legislation in the U.S. Senate to make future insurance policies easier for consumers to understand. The “Honesty is the Best Insurance Policy Act” calls for …
A study by a Boston-based think tank shows that Massachusetts firms in nine selected industries including financial services have costs that are on average 20 percent to 30 percent higher than similar companies in Texas, North Carolina and New Hampshire. …
Major earthquakes, category 5 hurricanes and terrorist attacks strike in an unpredictable manner. A fortune teller who could predict when the next of any of these events will occur would be hailed as the next Nostradamus. Yet, at a Sept. …
California’s Division of Workers’ Compensation has issued a revised proposal of regulations that would penalize insurers and self-insurers that show a pattern of denying or delaying workers’ compensation benefits. The revised version of the regulations clarifies that abuses that occurred …
Hawaii may have just suffered through two earthquakes, but the state says it has a potential flood problem. Hawaii’s tsunami warning system has serious deficiencies in reliability and coverage area, according to state emergency officials. About 100 of the tsunami …
Maine’s highest court reinstated a lawsuit targeting VIP Inc. over a fatal collision caused by one of its employees. In the 3-2 ruling, the Maine Supreme Judicial Court overturned a judge’s conclusion that the crash occurred outside the scope of …
The increasing number of motorists and deer in Texas are leading to a greater frequency of collisions between the two on the state’s roadways. Cooler weather and the annual rut season should make for even more hazardous conditions in the …
Frustrated Navy and Marine Corps officials are taking a hard line to try to reduce fatal traffic crashes off bases. The Navy has tallied the most traffic fatalities in more than a decade, and the Marine Corps had the heaviest …
$1.1 Billion Amount received in recoveries on behalf of claimants of the failed Executive Life Insurance Co., and its subsequent fraudulent acquisition by a French consortium, according to the California State Auditor. $42.9 million The cut in premiums State Farm …
