California workers’ compensation insurers will need $180 million annually to pay for workers’ compensation losses induced by earthquakes, according to a recently released study by the Workers’ Compensation Insurance Rating Bureau of California. The report, which was conducted by risk …
Southbound Highway 880 traffic was routed around a damaged section of Highway 580 in Oakland, Calif., Monday, April 30, 2007. Crews sifted Monday through the wreckage of a collapsed freeway overpass, and emergency response officials did their own analysis for …
$5 million Amount the Oregon Department of Consumer and Business Services is fining nine insurers in the American International Group for numerous violations of Oregon insurance and workers’ compensation laws, some dating back to 1985. AIG companies have already shown …
A top power company official defended safety standards at an earthquake-ravaged nuclear plant Wednesday, even as the company said a radioactive leak was bigger than first reported and came under international pressure for details. The mayor of nearby Kashiwazaki city …
Speaking before a key subcommitee of the U.S. House of Representatives Tuesday, Sandy Praeger, president-elect of the National Association of Insurance Commissioners (NAIC) and Kansas Insurance Commissioner, testified on the merits of all-perils insurance coverage. Commissioner Praeger commended the Subcommittee …
A strong earthquake struck northwestern Japan on Monday, destroying hundreds of homes, buckling seaside bridges and causing a fire at one of the world’s most powerful nuclear power plants. At least seven people were killed and hundreds were injured. The …
Rockhill Holdings recently announced the acquisition of Plaza Insurance Co. (PIC), formerly National Alliance Insurance Co. PIC is a Mo.-domiciled property/casualty insurer admitted in 38 jurisdictions. Initial lines of business for PIC will be specialty surety and other specialty property …
Missouri-based Rockhill Underwriting Management, LLC recently announced that Matthew J. Semeraro has joined the organization as vice president of Surety. Semeraro will be located in the Atlanta office in this new role and will direct and manage all underwriting, marketing …
Negotiations are continuing in the California insurance industry, as the state’s Earthquake Authority (CEA) continues to seek a way to make up $2.183 billion first industry assessment layer. At its recent governing board meeting, held June 26, the CEA emphasized …
A preliminary loss estimate report from Risk Management Solutions indicates that the recent earthquake that struck the Chinese province of Yunnan will cost some 1.91RMB ($250 million) in economic losses. “The magnitude 6.3 earthquake near the borders of Myanmar, Laos, …
