An insurance company disciplined by state regulators for its handling of claims after Hurricane Rita could face up to $300,000 in fines after the release of an audit by the Texas Department of Insurance. Earlier this year, TDI found that …
State lawmakers, doctors and health care industry executives clashed last week over whether the proposed merger of Pennsylvania’s two largest health insurers will benefit or hurt consumers. They were among roughly two dozen people who offered their views during a …
The financial condition of the property/casualty industry is strong; and, it should be able to withstand the current price deterioration, according to a new Property-Casualty Industry Forecast by Conning Research and Consulting. “The outlook for the next three years through …
Washington, D.C.-based the American Association for Justice, formerly the Association of Trial Lawyers of America (ATLA), recently released its study ranking insurance companies based on consumer friendliness and more. The group said it based its findings on financial and legal …
Shares of American International Group Inc, the world’s largest insurer, fell 8.2 percent Thursday on concerns that a rating cut at its mortgage insurance unit could signal more losses in the pipeline. “Everything is bleeding together,” said Rob Haines, an …
Standard & Poor’s Ratings Services said it does not expect the 2008 Midwest floods to impact ratings or outlooks for the majority of companies that it rates. However, property/casualty writers that are geographically concentrated in the affected states, especially those …
Standard & Poor’s Ratings Services revised its outlook on non-life insurer Powszechny Zaklad Ubezpieczen S.A. and life insurer Powszechny Zaklad Ubezpieczen na Zycie S.A., core entities of Poland-based composite insurance group PZU, to stable from negative. At the same time, …
Regional carriers come out on top in agency compensation and claims services, while nationals outscore regionals on loss control and technology. That’s according to an Insurance Journal weeklong survey in June on regional and national insurance companies. More than 400 …
Back-office firm WNS (Holdings) Ltd said it acquired insurer Aviva’s business process offshoring (BPO) business for about $228 million, a deal that will give the company $1 billion worth of outsourced work over a period of eight years. WNS also …
Florida-based PURE Risk Management recently launched an insurance program for personal boaters called PURE Watercraft Insurance. PURE provides hull coverage, including coverage for windstorm, on an agreed-value basis, and offers coverage for protection and indemnity, including fuel-spill liability and mechanical …
