U.S. state insurance commissioners unanimously backed tough rules requiring health insurance companies to direct more of the premiums they collect to medical care, rather than corporate salaries and profits. Although the percentages are mandated in the new healthcare law, insurers …
AIA, the Asian life insurance arm of AIG, raised $17.9 billion by pricing its Hong Kong IPO at the top of its range, as investors piled into a company with a wide footprint across rapidly growing Asia. The pricing of …
Catlin Re Switzerland, the European reinsurance company currently being formed by Catlin Group Limited, headquartered in Zurich, has announced two additions to its underwriting staff. Christophe Chandler, currently a Class Underwriter specializing in property reinsurance for Catlin Bermuda, has been …
Climate change is set to drive the spread of invasive plant and animal species, threatening forests, fisheries and crops, in a double blow to nature and livelihoods, a World Bank-funded report said on Friday. The study by Nairobi-based Global Invasive …
Health care organizations’ medical malpractice claim frequency appears to be declining slightly and severity is leveling off, according to a new report released today. Data collected from 1,600 hospitals in report years 1997 through 2007 reveals that the most severe …
Will Floridians, who already support a state-backed property insurer and a catastrophe fund, support another public insurance entity for sinkhole coverage? Such a fund might be the “best way to go,” according to John Auer, president of domestic insurer American …
Supporters of Washington’s workers’ compensation initiative 1082 have raised more than $3.3 million to try to open the state’s workers’ compensation system to the private market and eliminate the Department of Labor and Industries’ monopoly on providing workers’ compensation insurance. …
An insurer for the doctor charged in Michael Jackson’s death has asked a judge to rule that it is not responsible for the physician’s legal bills in two high-profile court cases and fights to retain his medical license. Medicus Insurance …
The Illinois Department of Insurance says it will receive $1.45 million in federal funds to support its efforts to educate Illinois health insurance consumers and advocate on their behalf. The grant funds provided under the federal health reform law (known …
Estimated 2010 storm losses in Kansas climbed to $220 million as of the end of August, according to the Kansas Department of Insurance. There were approximately 59,400 storm claims filed during that period. The highest number of claims so far …
