AccuWeather, NOAA warn of active hurricane season The AccuWeather.com Hur-ricane Center in State College, Pa., led by Chief Forecaster Joe Bastardi, in its 2006 hurricane season forecast predicted an active hurricane season that could have major repercussions for the U.S. …
The commercial insurance industry remained a buyers’ market in 2005, and shows no signs of hardening any time soon, according to the 2005 Annual Benchmark Survey from the Risk and Insurance Management Society (RIMS). The 2005 survey revealed that the …
New Mexico superintendent announces retirement, under investigation Embattled New Mexico Insurance Superintendent Eric Serna has agreed to retire as part of a settlement approved by the state’s Public Regulation Commission. Serna, who has been on paid leave since April, is …
Colorado adds fraud prosecutors, investigators The Colorado legislature has approved a bill adding a prosecutor and three new investigators to the Attorney General’s office to fight insurance fraud. Bill SB06-038, is awaiting the Governor’s signature, and is scheduled to become …
Study: Tort reforms reduce med-mal premiums Tort reforms are the best proven instrument for reducing medical liability insurance premium growth, according to a new study conducted by Stanford University Professor Daniel P. Kessler, JD, PhD, who also serves as a …
Model of New Orleans levee points to layer of clay Preliminary findings from a simulation project suggest that during Hurricane Katrina the 17th Street Canal levee in New Orleans may have slid on a layer of weak clay just beneath …
Hurricanes spawn E&O troubles for insurance producers With regard to potential errors and omissions claims against insurance producers in Louisiana arising out of Hurricanes Katrina and Rita, three main coverage areas are emerging as being particularly vulnerable: the wind vs. …
N.M. regulator accused of intervening on daughter’s auto claim New Mexico State Insurance Superintendent Eric Serna intervened in an automobile accident insurance claim involving his daughter, according to documents obtained by a local newspaper, but Serna denies any wrongdoing. “I …
Safeco adds online distribution strategy to sell direct to consumers Seattle-based Safeco Insurance Companies has decided sell products via the Internet to supplement its existing and preferred sale channel of independent agents, the company reported. The company began exploring this …
First quarter financial results upbeat, but some note disaster fallout The financial results are in. Insurers generally had positive first quarters, although some were hurt by higher health care costs and continued fallout from last year’s natural disasters. Below are …
