U.S. Senators Robert Bennett (R-Utah) and Christopher Dodd (D-Conn.) reintroduced legislation today to extend the federal terrorism backstop for two more years. The current Terrorism Risk Insurance Act is set to expire on Dec. 31, 2005. The Dodd-Bennett bill would …
A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and the issuer credit rating to “a-” from “a” for the reinsurance subsidiaries of Inter-Ocean Holdings Ltd. (Inter-Ocean) (Bermuda). The ratings apply to Inter-Ocean Reinsurance …
Schinnerer is now offering an admitted property policy for all types of public entities through the Insurance Company of the West (ICW), an A.M. Best A- rated company. The policy features a specialized property enhancement for public entities which provides …
Delaware officials unveiled their proposal for a statewide purchasing pool they believe could make health insurance more affordable for individuals and small businesses. Though short on details, draft legislation unveiled by Insurance Commissioner Matt Denn calls for a public-private partnership …
Delaware Insurance Commissioner Matt Denn, in his fiscal year 2006 budget presentation to the Joint Finance Committee, outlined plans to reform his office structure in order to focus it on protecting the interests of Delaware insurance policyholders. Denn also retracted …
Delaware Insurance Commissioner Matthew Denn unveiled a new regulation requiring that insurance companies provide prominent annual disclosures to each homeowner’s policyholder of where there might be gaps in the homeowner’s coverage, and whether the homeowner can purchase additional insurance to …
By a 5-2 bipartisan vote members of the Colorado Senate Business, Labor and Technology Committee rejected a measure that would have banned insurers from using credit history to underwrite and rate automobile and homeowners insurance policies. The action by state …
Delaware Democratic Gov. Ruth Ann Minner outlined her agenda for the coming year in the first state of the state address of her second term. Her agenda includes lowering workers’ compensation costs and improving health insurance access. In her speech …
New Delaware Insurance Commissioner Matt Denn announced he will support a bill being introduced that seeks to ban the use of credit scores by insurers in personal lines insurance rating. State Senator Margaret Rose Henry and Denn said that legislation …
Republicans in the Virginia House of Delegates plan to announce a $938 million transportation package that directs some money from the state’s general operating fund and some from the state tax on insurance premiums to transportation. The proposal exceeds the …
