The National Fraternal Congress of America (NFCA) has named Joseph J. Annotti as its new president and chief executive, effective March 24, 2008. Annotti fills the position vacated by Frederick H. Grubbe, who resigned on May 24, 2007. Since that …
Two insurance companies have refunded about $5.7 million to Colorado customers affected by billing and record keeping errors, state officials said this month. Hartford Financial Services Group has returned more than $2.5 million to holders of its commercial automobile insurance, …
The House Capital Markets Subcommittee [wants] to learn about the causes and effects of recent bond insurer ratings downgrades. We will, in particular, focus on the spillover effects for municipalities and the financial services industry. Bond insurance represents a microscopic …
An insurance company is suing the Bay St. Louis-Waveland, Miss., School District over wind versus water damage related to Hurricane Katrina. Insurer Cathedral Capital Limited has asked a federal judge to determine its liability under its policy with school district. …
Legislation approved in early February by the Washington House of Representatives is unnecessary and limits consumer choice, according to the American Insurance Association (AIA). “Policymakers just enacted a law in 2007, SB 5052, that guarantees the right of policyholders to …
The National Association of Mutual Insurance Companies (NAMIC) recently testififed before members of a Kansas Senate panel urging passage of rate modernization legislation. Senate Bill 560 would establish a flex rating system that allows property/casualty insurers to increase or decrease …
Michigan-based Meadowbrook Insurance Group, Inc. reported it will acquire ProCentury Corp. in a transaction valued at approximately $272.6 million in cash and stock to be paid to ProCentury shareholders. Under the terms of the merger agreement, shareholders of ProCentury will …
The American Insurance Association (AIA) today testified against Wisconsin SB 348, a bill that would ban zip codes as an insurance rating factor, saying it is unfair and hides the real cost of insurance. “SB 348 prevents an insurer from …
Two insurance companies have refunded about $5.7 million to Colorado customers affected by billing and record keeping errors, state officials said Thursday. Anthem Blue Cross Blue Shield has restored nearly $3.2 million to more than 7,200 holders of its health …
The Association of British Insurers (ABI) warned that government plans to construct new homes on flood plains have not given sufficient consideration of the hazards involved. Justin Jacobs, the ABI’s Assistant Director of Property, speaking at the Architects Journal Conference, …
