Insurance and real estate agents are being advised to prepare their clients for another possible interruption of the federal flood insurance program in three days, which could be longer than the one that happened last month. The Senate is expected …
Florida Gov. Charlie Crist said he would like to give the state insurance regulator authority to prevent excessive payments by home-based insurance companies to affiliated managing general agencies and other entities. “I’d like to be able to sign that,” Crist …
Risk Management Solutions announced that it has reached an agreement with Asia Capital Reinsurance Group (ACR) that they will work together to “develop catastrophe risk models enabling ACR to apply the models of particular relevance to the Asian market.” RMS …
Lloyd’s announced overall pretax profits of £3.868 billion [$5.796 billion] for 2009, doubling the £1.899 billion [$2.84 billion] it reported for 2008. The record results were achieved despite ongoing economic problems in the UK and the decline in the value …
Insurance agents and carriers are reporting progress in their efforts to modify a proposed federal financial services regulation bill passed by the Senate Banking Committee, while risk managers have extended their support to the legislation. Lobbyists for the Independent Insurance …
Auto insurer Clarendon National Insurance Co. has refunded $992,000 to 1,227 automobile insurance policyholders the company overcharged when it improperly imposed a 30 percent rate hike, the New York State Insurance Department said. The Insurance Department said Clarendon also paid …
The Insurance Council of Texas (ICT) has honored three students participating in the insurance curriculum at Huston-Tillotson University in Austin with scholarships. The 2010 ICT scholarship recipients at Huston-Tillotson are Ashley Simpson, Brittany McMillan and Christopher Yuen. Each student was …
Oklahoma insurance regulators have moved to seize a workers’ compensation insurer they say is insolvent and whose owners are being accused of deceptive financial transactions involving another recently-liquidated insurer. The Oklahoma Department of Insurance on March 18 filed a receivership …
Las Vegas-based Premier Physicians Insurance Co. risk retention group announced it has earned a Financial Stability Rating (FSR) of “A Exceptional” from Demotech Inc., a financial analysis firm located in Columbus, Ohio. The FSR is Premier Physicians’ first rating. According …
The Bermuda-based Argo Group International Holdings announced that it expects its initial loss estimate from first quarter 2010 catastrophe events that have occurred to date will be $25 to $35 million, net of reinstatement premium and tax benefits. Argo said …
