A Florida state panel has approved the use of a new hurricane catastrophe model that is increasing many insurers’ exposure. The Florida Commission on Hurricane Loss Projection Methodology has approved the Risk Management Solutions new U.S. Hurricane Model version 11.0 …
A federal appeals court revived a lawsuit by homeowners who accused eight major homebuilders of causing them to overpay for their homes by marketing nearby houses to high-risk borrowers who later went into foreclosure. Against what it called “the backdrop …
Tar balls washed onto Gulf of Mexico beaches by Tropical Storm Lee earlier this month show that oil left over from last year’s BP spill isn’t breaking down as quickly as some scientists thought it would, university researchers said Tuesday. …
American International Group Inc. (AIG) has hired Clarissa Potter, former deputy chief counsel at U.S. Internal Revenue Service and former law professor, as deputy tax director. In this role, Potter will be responsible for AIG’s global tax planning, including continued …
New York-based Freedom Specialty Insurance Co. appointed John Merchant as director of network security, data privacy and technology risk. In his role, Merchant will manage the development, underwriting and risk management of cyber liability products. He reports to Teresa Black, …
The Massachusetts Supreme Judicial Court ruled that charging filing fees to residents appealing traffic tickets does not violate equal protection. The Sept. 21 decision affirms the lower court’s ruling. The court said it is upholding filing fees for appealing traffic …
The House of Representatives unexpectedly defeated a bill that would fund the federal government [including the federal flood insurance program] past Sept. 30 Wednesday as dozens of Republicans broke with their party to push for deeper spending cuts. The unexpected …
The Federal Reserve’s latest move to stimulate credit for consumers and businesses, known as Operation Twist, is likely to threaten the earnings of some of the country’s largest insurers for years to come. Wall Street in the past week has …
Wells Publishing has named Mindy Trammell as its new advertising sales representative in the South Central/Texas region for its flagship Insurance Journal online and print property/casualty insurance publications. Trammell will serve advertisers in Texas, Arkansas, Louisiana and Oklahoma for Insurance …
The National Hurricane Center in Miami is currently tracking the season’s latest named storm, Ophelia, the 15th of the current season. As of 5:00 a.m. AST it was about 1020 miles, 1640 kms, east-southeast of the Leeward Islands. The NHC …
