The U.S. insurance industry’s exposure to securities issued by Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs) that aid liquidity in the mortgage market, is substantial for a handful of companies. Nevertheless, A.M. Best Co. does not foresee substantial …
Louisiana Medical Mutual Insurance Company (LAMMICO), which provides medical liability insurance for health care practitioners in Louisiana, announced it has funded scholarships for four students at medical schools in that state. This is the eighth year LAMMICO has awarded merit …
Professional Insurance Agents of Florida and the Florida Insurance Council have agreed to work together to form an agent/insurance company alliance aimed at educating the public and the media on insurance matters. PIA asked its members to volunteer for these …
Insurers caution public policymakers to not conclude that auto insurance premiums should be reduced because the high price of gas may be lowering the number of miles driven. Based on a new paper by the Property Casualty Insurers Association of …
American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led to an unexpected $5.36 billion quarterly loss. Willumstad, …
The global credit crisis tore a hole in the profits of some of Europe’s top insurers on Thursday, with AXA and Aegon both posting lower earnings. Share reactions were mixed across Europe. The DJ Stoxx European Banking Index fell 0.6 …
The Republic Group announced that Southern Insurance Co. has been selected by the Governing Committee of the New Mexico Property Insurance Program to act as servicing insurer for the New Mexico FAIR Plan for a three-year period beginning Jan. 1, …
The New York Legislature passed a bill that will impact the state’s insurance laws by requiring a showing of prejudice before insurers can disclaim coverage for late notice. Gov. David Paterson signed the bill into law on July 21. The …
The first read on insurance companies’ second-quarter earnings shows they’re taking hits from the same kinds of mortgage-backed investments as other financial firms, but so far, most companies haven’t had the severe losses that banks and investment firms have seen. …
Travelers, Nationwide Mutual and two insurance producer organizations are supporting a plan they say will make private windstorm insurance more affordable and available in coastal areas. The concept includes federally-regulated uniform windstorm coverage for coastal homes from Texas to Maine …
