Legislate Commissions “After hearing from various interested parties, if HHS does not fix this language before the rule is final, we hope that Congress will step in and revise the MLR formula through the legislative process.” —Charles E. Symington Jr., …
Certificates of insurance can create problems for insurance agents, especially in the areas of commercial property and the construction industry. The potential for disputes to arise is so great that the Texas Department of Insurance recently felt the need to …
$30 Million A Harris County, Texas, jury rendered a $30 million verdict against the Houston-based owner of SunMart convenience stores for defrauding gasoline purchasers, according to the Texas Attorney General’s Office. SunMart is owned by Petroleum Wholesale L.P. (PWI). The …
You play golf, you assume risks. So says New Hampshire’s Supreme Court. The state’s highest court has upheld dismissal of a negligence lawsuit brought by an injured golfer against Candia Woods Golf Links. Paul Sanchez III said the golf course …
The federal financial services reform act signed by President Barack Obama in July 2010 contained a provision reforming the way surplus lines insurance premiums are reported and taxed. The Nonadmitted and Reinsurance Reform Act, or NRRA, was supported by the …
New York agents failed to make their case that insurance regulators cannot require agents and brokers to disclose their commissions, a Supreme Court judge has ruled. That decision by Supreme Court Justice Richard M. Platkin ends for now a legal …
Farmers Insurance has filed for a 3.9 percent rate increase for homeowners insurance coverage in Texas. The Dallas Morning News reports that Farmers’ filing with the Texas Department of Insurance will affect about half the company’s customers in Texas. Farmers’ …
The New York Insurance Department said it implement recommendations aimed at streamlining and improving the process for insurers to file their rates and forms with regulators. The recommendation comes from a new report by an industry working group that began …
After more than 40 years in the insurance industry, Scott Johnson, executive vice president of the Florida Association of Insurance Agents (FAIA), will be retiring in December. Johnson has served the FAIA since 1974. Johnson’s career in insurance began in …
Several problems, including design flaws, likely led to the breach of an eastern Iowa dam last summer that decimated a nine-mile long lake, a panel of independent engineers said. The findings identified design and construction issues, areas where water likely …
