Montana legislators recently defeated House Bill 345, “An act revising the law governing the damages that may be awarded because of an insurance company’s violation of certain prohibited insurance claim settlement practices.” According to the bill text, “Montana law has …
New Mexico’s Legislature has defeated two insurance-related bills that an insurance association would have increased costs for consumers. House Bill 157, “Unfair Trade Practice Private Right of Action,” would have amended the Unfair Trade Practices Act to allow lawsuits for …
Florida Insurance Commissioner Kevin McCarty has denied State Farm Florida an administrative hearing on details of the insurer’s plan to withdraw from the state’s homeowners market. State Farm Florida has balked at requirements McCarty has attached to its withdrawal including …
In an open letter to British Prime Minister Gordon Brown, released at the European Insurance Forum in Dublin, a number of the world’s leading insurance organizations urged him to recognize that “insurance has a fundamentally different business model from banking.” …
Bermuda-based Flagstone Reinsurance Holdings Limited announced that Dominic Kirby will replace Tom Bolt as Managing Director of Marlborough Underwriting Agency Limited, effective August 1, 2009. Kirby has been employed at Flagstone since July 2007, most recently overseeing the Marine and …
Standard & Poor’s Ratings Services stated that its ratings on the core operating companies of Italy’s Generali Group (AA/Negative/–) are unaffected by the termination of the agreement relative to the joint venture Intesa Vita, which will not be renewed. “Alleanza …
According to National Association of Insurance Commissioners (NAIC) President and New Hampshire Insurance Commissioner Roger Sevigny, the most recent financial services regulatory proposal from the Obama Administration retains a role for state insurance commissioners. “We are encouraged by Treasury Secretary …
The nation’s insurance industry found some things to like and not to like in Treasury Secretary Timothy Geithner’s proposed restructuring of financial services regulation. While Secretary Geithner said that any federal regulatory authority should not replace state regulation of insurance, …
The Iowa General Assembly is considering several insurance-related bills that could pose threats to consumers, including one that would expand wrongful death claims to allow recovery of highly speculative damages, which would likely increase the value of claims and drive …
When it comes to an agency’s satisfaction with its personal lines insurance companies, commissions do not rank as tops. Nor do commissions rank second. In fact, out of six satisfaction factors, compensation from an insurer ranks dead last, according to …
