The Texas Department of Insurance reported recently that it received numerous inquiries and complaints after Hurricane Ike relating to the failure of agents to forward applications and premium to the Texas Windstorm Insurance Association (TWIA) in a timely manner. As …
Allstate Floridian Insurance Co. and Allstate Floridian Indemnity Co., property insurance subsidiaries of Allstate Insurance Co., have changed their names to Castle Key Insurance Co. and Castle Key Indemnity Co., respectively. Mike Sheely, Allstate field vice president for Florida, said …
The Louisiana Legislature adjourned June 25, approving two bills of importance to the insurance industry late in the session, but bypassing several tort reform measures that some insurance and business trade groups had supported. SB 130, which revises the way …
North Carolina legislators started grappling last week with how to beef up the state-created but underfunded insurance program for coastal property, and immediately confronted the possibility that all of the state’s insured property owners could pay more after a catastrophic …
The property/casualty insurance industry suffered a $1.3 billion net loss after taxes for first-quarter 2009, which constitutes a $9.8 billion adverse swing from the industry’s $8.5 billion in net income after taxes in first-quarter 2008. And reflecting the swing to …
The American Insurance Association (AIA) has expressed disappointment that the Louisiana Senate chose not to consider asbestos lawsuit reform legislation during the 2009 session. The insurance company trade group, however, has commended the Louisiana Legislature for passing two measures that …
Standard & Poor’s Ratings Services has placed its ‘BBB’ counterparty credit rating on Bermuda-based IPC Holdings Ltd. on CreditWatch with negative implications. S&P also placed its ‘A-‘ counterparty credit and financial strength ratings on IPCRe Ltd. and its ‘A-‘ financial …
Alabama has a message for its neighbors: Don’t count on us next time you need shelter from a storm. And it’s not because Louisiana evacuees made a mess last time they came. Gov. Bob Riley said that Alabama will take …
10% The increase in Atlanta’s homeowners insurance rates that is possible unless the city hires more firefighters and improves fire training. Georgia Insurance Commissioner John Oxendine said a report by Insurance Services Office (ISO) that found Atlanta’s public protection classification …
$9.3 Million An Arkansas lawyer who controlled an escrow account for a settlement in a case involving the Bisys Group Inc. insurance services firm has pleaded guilty to charges of stealing more than $9 million from the account. Lawyer Steven …
