News Currents

There are “35 million people living along the hurricane-prone coast that stretches from North Carolina to Texas. Half of these live in Florida, 10 million on the Atlantic coast and seven million on the Gulf coast. As rising seas and …

Six in 10 businesses now buying terror coverage, Marsh reports Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, a dramatic increase from the 2003 average of 27 percent and up …

Premiums remain flat in second quarter except in hurricane-exposed regions, risk managers report According to the Risk and Insurance Management Society Inc.’s Benchmark Survey, commercial insurance premiums were flat to slightly lower in the second quarter of this year compared …

One year later, insurers report 95 percent of Katrina claims in La. and Miss. settled One year after Hurricane Katrina, the insurance in-dustry says that nearly 95 percent of homeowners insurance claims have been settled in Louisiana and Mississippi, insurance …

Universal overcharges Insurance Commissioner John W. Oxendine ordered a Kansas insurance company to return $1,016,518 in overcharges to 159 Georgia customers. Oxendine said Universal Underwriters Insurance Company will make retroactive premium adjustments to affected policyholders, including interest, for new or …

News Currents One year later: Gulf Coast agents & Katrina recovery How 3 Mississippi Gulf Coast agents, their families and communities are progressing Last October, Insurance Journal spent two days in Mississippi visiting with three independent insurance agents who experienced …

No ‘pixie dust’ for reform, Texas work comp chief says With that statement Texas Commissioner of Workers’ Compensation Albert Betts introduced his message to a crowd of insurance professionals attending the annual conference of the Southwestern Insurance Infor-mation Service, held …

Chubb, State Farm reducing auto rates in California State Farm Insurance, California’s largest auto insurer, has applied for an 8 percent average reduction for its policyholders while simultaneously implementing new auto rate regulations, according to the Department of Insurance. Similarly, …

Washington governor declares wildfire emergency Washington Gov. Chris Gregoire declared a wildfire emergency as several large fires burned in the state and forecasters predicted more thunderstorms and high winds. “Numerous wildfires across Washington pose a serious threat to homes, infrastructure, …