The chief executive of Louisiana’s state-backed property insurance company is seeking a 9.2 percent average rate increase for 2010, though he said some policyholders will probably see their rates decrease. John Wortman, CEO of Louisiana Citizens Property Insurance Corp., said …
Gov. David Paterson has signed legislation to freeze medical malpractice insurance rates in New York for another year, but the state’s largest insurer said it leaves the company financially weaker while efforts to resolve malpractice issues are stalled. Dr. Robert …
Financial institutions faced an average premium hike of 15 percent in the second quarter of 2009, as insurers seek to make up for underwriting losses resulting from a deluge of credit crunch-related Professional Indemnity and Directors and Officers’ claims, according …
Ohio Department of Insurance Director Mary Jo Hudson announced that the average rates for the state’s top 10 private passenger auto insurers increased 0.8 percent in 2008. The average rates for the state’s top 10 homeowners increased by 6.9 percent …
Louisiana was among the 38 states that recorded higher unemployment rates in June, but the state has experienced job growth during the past year in certain industry sectors. The Louisiana rate of 6.8 percent remains significantly lower than the national …
A court has upheld Florida Insurance Commissioner Kevin McCarty’s denial of a 47.1 percent home insurance rate hike requested last July by State Farm Florida. According to the Florida Office of Insurance Regulation (OIR), the First District Court of Appeal …
Louisiana Citizens Property Insurance Corp. CEO John Wortman said the state-backed property insurer will likely seek another rate hike for next year, roughly a 10 percent statewide average increase, on top of this year’s 7 percent increase. The percentage increases …
Citing testimony that self-insured employers have been able to reduce overall workers’ compensation costs, California Insurance Commissioner Steve Poizner has rejected the Workers’ Compensation Insurance Rating Bureau’s request for a pure premium rate increase of 23.7 percent. While the Department …
State Farm Lloyds has submitted a rate filing to the Texas Department of Insurance to increase its homeowner’s insurance rates in Texas by a statewide average of 8.5 percent, beginning Oct. 1 for existing customers at renewal and Sept. 1 …
North Carolina is ordering auto insurers to roll back their rates to 2006 levels and send up to $50 million in refunds to about 1 million policyholders in a settlement announced today by Insurance Commissioner Wayne Goodwin. The settlement does …
