Oregon fines nine AIG companies $5 million The Oregon Department of Consumer and Business Services (DCBS) has imposed a $5 million fine on nine insurers in the American International Group (AIG) for numerous violations of Oregon insurance and workers’ compensation …
Hawaii governor vetoes workers’ comp bills The Hawaii Legislature has failed to override Gov. Linda Lingle’s vetoes of two workers’ compensation bills. A two-thirds majority vote was required in both the House and Senate to override the vetoes. Both bills …
Tahoe Fire losses could reach $150 million, victims may be underinsured Insured loss estimates for the Angora Fire that burned south Lake Tahoe have been upped to $100 million to $150 million, according to Risk Management Solutions, a Newark, Calif.-based …
Drinking buddies not liable as social hosts, Mass. court rules The Massachusetts Appeals Court has ruled that friends who meet regularly after work for drinks cannot be held liable for injuries caused when one of the members of their group …
Fireman’s Fund launches Bay Area wildfire readiness program To kick off Fireman’s Fund wildfire readiness program, firefighters from the Marin County, Calif., Fire Department ignited a controlled fire on the hillside and let it burn to a replicated defensible space …
Massachusetts insurance agents aren’t happy about the decision to introduce competitive rating into the state’s price-regulated private passenger auto insurance system. They enjoy the best market share in the country under the current system and don’t want to see that …
Bermuda shorted as more U.S. captives form onshore, Aon reports Bermuda’s reign as the undisputed global leader among captive domiciles is being challenged by U.S. companies that are increasingly leaning toward onshore domiciles for their captive insurance companies. That is …
In Vermont, insurer seeks reimbursement for hostage benefits An insurance company that paid workers’ compensation to a Thetford, Vermont, bank employee traumatized in a hostage-taking incident is seeking to recover the money from the family of the teenager charged in …
P/C industry net income, overall profitability slips The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and $17.7 billion in first-quarter 2005, according to industry analysts at …
Wis. Supreme Court nixes class-action lawsuit against Harley-Davidson The Wisconsin Supreme Court refused to reopen a class-action lawsuit that accuses Harley-Davidson Inc. of failing to disclose a defect in two engine types sold in 1999 and 2000. In a 4-3 …
