The Las Vegas area has stolen the top spot on the list of auto thefts around the nation, followed by other areas in the West. After three consecutive years as the area with the worst per capita vehicle theft, Modesto, …
Texas AG, Allied World Assurance settle antitrust suit A settlement has been reached in an investigation that Texas Attorney General Greg Abbott says uncovered collusion between a Bermuda-based commercial casualty insurer and various U.S. insurance companies. The settlement amount in …
Katrina homeowners’ lawyers claim e-mails as evidence E-mails sent by officials of an engineering firm that assessed Hurricane Katrina claims suggest that State Farm Insurance Co. wanted engineers to blame damage on flooding so that it could make minimum settlements …
The Utah Supreme Court has found that a “party may recover under the doctrine of estoppel when an insurance agent makes material misrepresentations as to the policy provisions, the party reasonably relies on those misrepresentations in buying the coverage, and …
Delaware agent groups on verge of merger The boards of directors for the Insurance Agents & Brokers of Delaware (IA&B of DE) and the Independent Insurance Agents of Delaware Inc. (IIAD) have unanimously voted to approve the plan for merger …
Arizona Appeals Court: Pain not equal to injury in workers’ comp claim The Arizona Court of Appeals has ruled that subjective pain does not fall under Arizona’s definition of an injury for which an employee is entitled to workers’ compensation …
Judge rejects antitrust, racketeering charges in brokerage suit Plaintiffs in a class action suit alleging bid rigging and account steering by commercial insurers and brokers have failed to show that the defendants’ actions amounted to fraud under federal racketeering statutes …
Lloyd’s posts more than $7 billion in record pre-tax profit What a difference a year makes. On March 29, Lloyd’s announced pretax profits for 2006 of $7.2 billion compared to the $202 million loss it posted in 2005. Lloyd’s also …
N.J. ruling could affect 10,000 drunk driving cases A breath test used in thousands of drunken driving cases in New Jersey went on trial earlier this month, when the state Supreme Court considered whether the instrument provides reliable blood-alcohol level …
Banks’ total insurance revenue dipped The nation’s bank holding companies (BHCs) experienced a slight decline of 1.3 percent in their total insurance revenue from $44.1 billion in 2005 to $43.5 billion in 2006. Citigroup Inc. (N.Y.), Wells Fargo & Co. …
