The Japanese government on Wednesday estimated the direct damage from a deadly earthquake and tsunami that struck the country’s northeast this month at 16-25 trillion yen ($185-$308 billion), making it the world’s costliest natural disaster. It said the estimate covered …
The Obama administration has named Illinois state insurance regulator Michael McRaith to head the new Federal Insurance Office. McRaith, currently the head of the Illinois Department of Insurance, will run the Federal Insurance Office set up under 2010’s Dodd-Frank Wall …
American International Group Inc. shares are expected to settle back to a level in the mid-$40 range once the company’s recently approved warrants begin trading, a person familiar with the situation said Monday. But even at that level, the government …
The recapitalization of bailed-out insurer American International Group Inc. is likely to close next week, a person familiar with the matter said Friday, as AIG shares touched fresh highs on news it was getting closer to the deal. But the …
Minnesota-based Austin Mutual Insurance Company, a regional property and casualty insurer, announced it has completed its merger with Cooperative Mutual Insurance Co. located in Omaha, Neb. The previously announced merger of the companies will result in projected combined assets of …
The Missouri Legislature convened its 2011 session on Jan. 5, 2011, with many new faces, a looming budget shortfall and a pledge from the state’s largest Republican majority to make quick progress on a pro-business agenda. On opening day, the …
Incoming Oklahoma Insurance Commissioner John Doak has appointed 10 members of his staff to lead the Oklahoma Insurance Department. Joining the team are: Mike Rhoads as deputy commissioner of Health Insurance; Denise Engle as deputy commissioner of Workers’ Compensation; Former …
Reflecting on Calif. Insurance Commissioner Dave Jones’ recent emergency order to enforce medical loss ratio rules requiring insurers to limit the percentage of premium revenue spent on reimbursement for “non-claim costs,” Kevin Baker of San Jose, Calif.-based Suhr Risk Services, …
California Insurance Commissioner Dave Jones has called on Blue Shield of California to delay its implementation of a new round of substantial individual health insurance premium increases that would impact tens of thousands of California policyholders. In some instances, consumers …
Oregonians should expect a long slow recovery from the recession, and it will be years before the economy returns to pre-recession levels, John Mitchel, an economist and former Western Regional Economist for U.S. Bank, warned insurance agents and brokers in …
