Members of the Property Casualty Insurers Association of America and the American Insurance Association have approved a merger that takes effect Jan. 1, 2019. The combined organization is set to have a new name, the American Property Casualty Insurance Association, …
Two leading U.S. property/casualty insurance carrier trade groups are talking about merging. The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) said their respective boards have approved moving ahead with merger talks and due diligence, …
Legislation backed by the insurance industry and some Texas business groups that curtails the ability of policyholders to sue insurance companies over property claims following extreme weather events has passed the state Senate and is headed for the governor’s desk. …
A national trade association representing property/casualty insurers has come out against a proposed bill in Illinois that will create what group says are “burdensome and duplicative workers’ compensation regulations.” The synopsis of Illinois House Bill 2645 states that the bill …
Insurance industry lobbying groups are speaking out against a proposed amendment to an Illinois statute that would give insurance regulators in that state more control over workers’ compensation rates. Illinois House Amendment 4 to SB 2901 would, among other things, …
The Oklahoma Supreme Court handed a major setback to proponents of workers’ compensation alternatives on Sept. 13, ruling that the state’s Opt Out Act is unconstitutional. The high court’s 7-2 ruling came in Vasquez v. Dillards, which was appealed to …
The insurance industry and its consumers need to be concerned about the recent rise of protectionist policies in markets around the globe. Our industry has played an important role in building a more open, interconnected global economy resulting in measurable …
The constitutionality of Oklahoma’s workers’ compensation alternative, the Oklahoma Option, which was established in the 2013 overhaul of the state’s workers’ comp system, is currently being challenged in an appeal to the state Supreme Court. The Oklahoma Employee Injury Benefit …
An Illinois think tank has issued a report expressing support for a workers’ compensation opt-out system, stating that it would give employers the ability to lower costs and allow for a more flexible workforce. In its report, “Fixing Illinois’ Outdated …
Data released at a May 24 hearing to determine the competitiveness of earthquake insurance coverage in Oklahoma shows that four insurance companies have 55 percent of the market in the state. That’s a concern for Insurance Commissioner John D. Doak, …
