A.M. Best likes what it sees in property/casualty personal lines segment Rating and industry analysts at A.M. Best are maintaining their stable outlook for the personal lines property/casualty segment in 2007 based on what they see as this sector’s continued …
Enacted catastrophe-related laws increased dramatically in the states last year, according to the annual survey of state insurance laws prepared by an insurance group. “Ten states enacted 17 catastrophe-related bills last year as compared to three states in 2005,” said …
Safeco to cut homeowners, commercial rates across California Seattle-based Safeco announced it will be cutting rates for California homeowners in 2007 by an average of 20 percent. The move is expected to affect some 200,000 Safeco home and business customers …
Agents welcome windstorm debate; insurers warn against subsidies The Independent Insurance Agents and Brokers of America (the Big “I”) says the debate over windstorm coverage is crucial for consumers and independent agents and brokers in many regions around the country. …
Nevada’s med-mal changes help doctors, hinder lawsuits Physicians’ insurance premiums are down and more doctors are coming to Nevada since voters limited damages in medical malpractice cases, lawmakers were told this month. But trial lawyers said many malpractice victims have …
Mass. auto assigned risk plan could be history before it even begins Massachusetts insurance agents have urged the administration of Gov. Deval Patrick to scrap a proposed auto insurance assigned risk plan that the previous administration championed for four years. …
N.J. drunk driver test A new machine to help determine if drivers are drunk is generally reliable but is not perfect and can only be used with some adjustments and discretion, a New Jersey judge has said. One of the …
Chicago Exchange offering future contracts on ’07 hurricanes The Chicago Mercantile Exchange, the largest derivatives exchange in the U.S., is launching contracts that will allow insurers and others to hedge risk against hurricane damage. The exchange, a unit of CME …
Maryland mulls how to keep property insurers on coast Alarmed that homeowners on Maryland’s coasts may one day be cut off from home insurance, state lawmakers are mulling new rules prohibiting insurers from pulling out of areas they deem risky. …
The Ohio Department of Insurance recently an-nounced that the average rates for the state’s top 10 auto and homeowners insurers — which represent 72 percent of both markets — decreased 1.2 percent and 0.8 percent, respectively, in 2006. Ohio has …
