Hurricane Season News

Insurers fight impression their big profits are at claimants’ expense

The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent. St. Paul Travelers’ earnings rose sixfold in the fourth quarter, American International Group’s rose eightfold. A year and a …

Are state-backed insurance schemes the wave of the future?

The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and form regulation, and consumer protection. More recently, however, the state itself is …

Are state-backed insurance schemes the wave of the future?

The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and form regulation, and consumer protection. More recently, however, the state itself is …

Bipartisan flood insurance ‘modernization’ bill boosts borrowing, maximum limits

News Currents U.S. Reps. Judy Biggert, R-Ill., and Barney Frank, D-Mass., introduced bipartisan legislation to revamp the National Flood Insurance Program that boosts the program’s borrowing authority to $21.5 billion, increases the maximum coverage limits and provides for business interruption …

New Orleans Still Debating How to Evacuate Thousands of Residents

With hurricane season less than two months away and memories of Katrina less than two years old, city leaders are still trying to sort out how they will evacuate residents this year if another storm approaches. Tourism leaders oppose using …

Fla. considers claims law glitch, storm tax break

Flashlights, radios, tarps and other hurricane supplies would be tax free for 12 days at the beginning of hurricane season, under a measure the Florida House has under consideration. Floridians received a similar tax break last year leading into hurricane …

Are state-backed insurance schemes the wave of the future?

The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and form regulation, and consumer protection. More recently, however, the state itself is …

Are state-backed insurance schemes the wave of the future?

The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and form regulation, and consumer protection. More recently, however, the state itself is …

Are state-backed insurance schemes the wave of the future?

The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and form regulation, and consumer protection. More recently, however, the state itself is …

Bipartisan flood insurance ‘modernization’ bill boosts borrowing, maximum limits

Agents generally support legislation, but insurers caution changes could result in additional costs U.S. Reps. Judy Biggert, R-Ill., and Barney Frank, D-Mass., introduced bipartisan legislation to revamp the National Flood Insurance Program that boosts the program’s borrowing authority to $21.5 …