The New York Insurance Association is criticizing the state legislature’s passage of the portion of the 2008 budget which hikes assessments on insurers by $40 million – a 20 percent increase over last year, the group said. The agency budgets …
Democratic presidential hopeful Hillary Clinton, as part of a broad plan to boost the fortunes of U.S. workers, if elected would clamp down on tax benefits to foreign insurers doing business in the United States, she said. Under a plan …
Influential Chinese companies that want to avoid competition are the biggest threat to more economic reform in China, U.S. Treasury Secretary Henry Paulson said Thursday. Paulson’s comment echoed complaints by foreign investors that Beijing is trying to shield its companies …
Policyholders may not be entitled to recover any money from a sweeping antitrust lawsuit that former Attorney General Charles Foti filed against some of the nation’s largest insurers after Hurricane Katrina, a plaintiffs lawyer said April 2. Foti, who teamed …
Tennessee drivers scored a major legislative victory with the passage of a new law that stops cities from imposing hidden taxes on motorists, according to the Property Casualty Insurers Association of America. The legislation (HB 2547) prohibits local governments from …
Unitrin, Inc. reported that it has completed its previously announced acquisition of Primesco, Inc. of Decatur, Alabama, in a cash merger transaction valued at $95.6 million. Primesco’s wholly-owned subsidiaries, Mutual Savings Life Insurance Co. and Mutual Savings Fire Insurance Co., …
California’s Legislature will hear testimony today regarding operations of the state’s largest workers’ compensation insurer. Senate Bill 1145 will be heard by the Senate Banking, Finance and Insurance Committee, and Assembly Bill 1874 will be heard in the Assembly Insurance …
The Minnesota House has approved legislation making it easier for consumers to sue their insurance companies over denied claims. The bill passed on a vote of 81-51 after it was changed to make it more like a Senate version that …
Haeaii’s biggest health insurer wants to hike health insurance premiums by more than 12 percent next year, the biggest increase in nearly two decades. The proposed rate hikes would affect 144,000 members and businesses with fewer than 200 employees starting …
California Treasurer Bill Lockyer is exploring the possibility of having state pension funds create a new bond insurer, his spokesman said Thursday. Lockyer has no immediate plans to use Berkshire Hathaway’s new bond insurance unit following congressional testimony earlier this …
