Major earthquakes, category 5 hurricanes and terrorist attacks strike in an unpredictable manner. A fortune teller who could predict when the next of any of these events will occur would be hailed as the next Nostradamus. Yet, at a Sept. …
Aon, Old Republic Insurance Co. Chicago-based Aon has taken further steps to exit the property and casualty underwriting business by moving to sell its Construction Program Group (CPG). Aon also announced that it would strengthen reserves for its remaining specialty …
Estimated damages from the two earthquakes that struck Hawaii on Oct. 15 have been rising. Yet the recent disaster has not spurred homeowners and businesses to purchase earthquake coverage, according the state’s Insurance Commissioner. Two damaging earthquakes struck the northwest …
Insurance agents and executives have a lot to worry about as the fast-paced virtual economy takes hold. According to futurist Edie Weiner, they are right to be worried. She says there are a lot of risks ahead and given the …
The commercial property/casualty market continued to soften during the third quarter, with indications that some insurers are finding an appetite for business in which they previously were not interested, according to the latest commercial market index survey by The Council …
Hawaii acknowledges tsunami warning deficiencies Hawaii may have just suffered through two earthquakes, but the state says it has a potential flood problem. Hawaii’s tsunami warning system has serious deficiencies in reliability and coverage area, according to state emergency officials. …
Major earthquakes, category 5 hurricanes and terrorist attacks strike in an unpredictable manner. A fortune teller who could predict when the next of any of these events will occur would be hailed as the next Nostradamus. Yet, at a Sept. …
$1.1 Billion Amount received in recoveries on behalf of claimants of the failed Executive Life Insurance Co., and its subsequent fraudulent acquisition by a French consortium, according to the California State Auditor. $42.9 million The cut in premiums State Farm …
The number of open claims files being handled by the California Insurance Guaranty Association (CIGA) has dropped from a high of 85,000 to around 48,000, of which more than 40,000 are the result of workers’ compensation insolvencies, new CIGA Executive …
$17.5 million The total in refunds that Maryland Insurance Commissioner R. Steven Orr ordered Allstate Insurance to send to 20,571 auto policyholders he says were improperly charged. This restitution is in addition to a $100,000 administrative penalty. Allstate had sent …
