The insurance industry is not taking the recent attacks by Michigan Gov. Jennifer Granholm and the state consumer advocate lightly. Insurance trade groups have come out swinging against Granholm’s call for a freeze on auto insurance rates until lawmakers can …
The National Association of Professional Surplus Lines Offices Ltd. (NAPSLO) is launching the NAPSLO Executive Leadership School, scheduled for Feb. 8-11, 2009, in Charlottesville, Va. The new school offers senior-level members the opportunity to learn leadership skills from top business …
New York City set more than 40 new rules for the struggling construction industry to make high-risk sites safer and correct problems such as those that led to two deadly crane collapses last year. The Department of Buildings said it …
ACE Limited reported net income for the fourth quarter ended December 31, 2008, of $20 million, a 96 percent decline from the $572 million the group posted in the same period of 2007. The company recorded net losses on investments …
The U.S. Senate Tuesday defeated a provision to slash the tax rate on profits that companies bring into the United States from overseas, voting not to include it in the economic stimulus package. The measure would have temporarily cut the …
Iowa Gov. Chet Culver has signed into law a $56 million package designed to help Iowa recover from last summer’s record flooding, but he cautioned that the measure was only one step in a long recovery process. “The good news …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating (ICR) to “bbb” from “a-” of Bermuda-based New Castle Reinsurance Company Ltd. Best also downgraded the ICR to “bb-” from …
In her seventh State of the State address, Michigan Governor Jennifer M. Granholm called for a freeze on auto insurance rates. She said the freeze would last for a year, “while the Legislature works to enact comprehensive insurance reform to …
Texas State Representative Bill Callegari (Katy) has filed two measures to cap increases in property tax appraisals for commercial property. The bills, HB 979 and HJR 49, limit annual appraisal increases for commercial properties to ten percent. Unlike residential homestead …
According to Deirdre Littlefield, president of the International Union of Marine Insurance (IUMI), “While the insurance industry may be more insulated from failure than others in the financial sector, it will not entirely escape the damage done by the current …
