A quick, and as yet incomplete, survey of re/insurance industry leaders indicates that the main concern they will have to deal with in the coming year isn’t climate change, or Solvency II, but the insurance industry’s ancient bugaboo, the soft …
Automakers recalled about 20 million vehicles in 2010, led by high-profile recalls by Toyota that prompted new scrutiny of the auto industry’s safety record. The number of recalls this year was the largest in the United States since 2004, according …
Texas-based Biglari Holdings Inc., parent company of the Steak n Shake restaurants, has increased its proposal to acquire 100 percent of the issued and outstanding shares of common stock of Fremont Michigan InsuraCorp Inc. to $31 per share in cash. …
Are you an insurance news hound? Test your insurance news IQ and find out. The following questions and answers (at bottom of the page– don’t cheat!) were developed based on news stories published by InsuranceJournal.com in 2010. Good luck! 1. …
As the Gulf oil spill gushed out of control, BP’s financial liabilities seemed big enough to sink the company. No more. Cleanup, government fines, lawsuits, legal fees and damage claims will likely exceed the $40 billion that BP has publicly …
The Federal Emergency Management Agency (FEMA) is seeking a top-to-bottom review of the efforts to reform the nation’s flood insurance program. The National Association of Mutual Insurance Companies (NAMIC) has offered a set of reform proposals designed to improve the …
It has been a challenging few years for those in the excess and surplus (E&S) lines insurance market. An endless soft market, extreme competition from the standard markets, and a bad economy left wholesale and retail agents scrambling to retain …
Reinsurance rates for 2011 are falling at the same or greater pace than traditional insurers and further softening of the market is to come, according to two industry reports. For the second year in a row, global reinsurance property catastrophe …
Texas Commissioner of Workers’ Compensation Rod Bordelon recently signed an emergency rule adopting amendments to the workers’ comp pharmacy fee guideline. According to industry representatives, the action averted a disruption in the delivery of health care benefits to injured employees. …
A federal judge in Pittsburgh has dismissed a lawsuit filed by a bar patron who claims he and another customer should have been searched for weapons before they shot one another in February. Forty-two-year-old Thomas Galloway, of Arnold, filed the …
