New York City is considering whether pay-as-you-drive auto insurance could reduce congestion and pollution in the Big Apple. The city’s department of transportation has issued a request for expressions of interest inviting vendors to submit information about pay-as-you-drive insurance policy …
Oregon workers’ compensation insurance claims rates in 2009 were at the lowest they’ve ever been, at less than 42 percent of the 1989 rate, according to a recently released report by the state’s Department of Consumer and Business Services, Insurance …
Allstate Corp. has sued Bank of America Corp., its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks on more than $700 million of mortgage securities it bought from Countrywide. Allstate, the largest publicly traded U.S. home …
In 2009, independent insurance agents and brokers faced a “perfect storm” with the economic downturn, premiums at a fraction of what they used to be, and unemployment and home foreclosure rates up, said Kevin Baker of San Jose, Calif.-based Suhr …
Peoria, Ill.-based RLI Corp. announcedthat it will acquire Contractors Bonding Insurance Co. (CBIC) through an acquisition of its holding company, Data and Staff Service Co. (DSS) for approximately $137 million in cash. The acquisition is subject to regulatory approval and …
American International Group Inc. (AIG) has agreed to pay $146.5 million in fines and additional taxes to state insurance regulators for alleged under-reporting of premiums to states more than a decade ago. The company will pay $100 million in penalties …
Natural and man-made catastrophes topped the list of the most significant events in 2010, with three major earthquakes, a near record number of hurricanes, some serious typhoons and windstorms, a volcanic eruption and a calamitous oil spill that blighted the …
Bailed-out insurer American International Group Inc is close to picking a preferred bidder for Taiwanese life insurer Nan Shan, the Wall Street Journal reported Wednesday. But a person familiar with the situation, who spoke on condition of anonymity, told Reuters …
The top insurance stories in the Southeast in 2010 included several disasters that caused considerable death and destruction in the region and one that didn’t do as much harm as feared. The April 20 blowout of BP’s Macondo well while …
Two New York agents’ groups said they have taken the first steps to appeal a decision by state court judge allowing state insurance regulators to force brokers to reveal their commissions. The Independent Insurance Agents and Brokers of New York …
