An insurance company is suing the Bay St. Louis-Waveland, Miss., School District over wind versus water damage related to Hurricane Katrina. Cathedral Capital Limited has asked a federal judge to determine what is its liability under its policy with school …
Municipal bond investors were in a wary frame of mind Monday as they waited to learn whether ratings agencies will downgrade some ailing bond insurers. Uncertainty about the fate of the companies that insure municipal bonds has cast a pall …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of The New India Assurance Company Limited, and has revised its outlook on the ratings to stable from negative. Best …
A federal jury has ordered an Oklahoma City-based insurance company to pay $10.8 million for improperly reducing the benefit owed to the mother of a policyholder who died. American Fidelity Assurance Co. said it was “astonished” by the verdict and …
Insurance groups are criticizing passage of Senate Bill 259 by the Wisconsin Senate late on Thursday, Jan. 31st. Senate Bill 259 would forbid insurers from considering information in an individual’s credit report for issuing, renewing, or setting premiums for auto …
Advisory firm Perella Weinberg Partners, hired by New York state to help find investment capital for cash-strapped bond insurers, is facing both skeptical lenders and time constraints. The situation is so dire, however, their strongest leverage may be the size …
New York State agents and insurers praised the passage late last month of a key workers compensation reform that will extend the rate-making authority of the New York Compensation Insurance Rating Board, and move the system to a loss cost …
A group of insurers says it hopes U.S. lawmakers will continue to focus on the need for affordable property insurance, an optional federal charter for the insurance regulatory system in America, and comprehensive flood insurance reform in 2008. “2008 is …
A Mississippi homeowner whose lawsuit over Hurricane Katrina damage ended with a jury verdict that favored his insurance company said Tuesday he has no plans to file an appeal in the case. On Monday, an eight-member jury ordered USAA Casualty …
A proposal by Michigan Governor Jennifer Granholm to create a state automobile and homeowner insurance consumer advocate is being called “unnecessary and duplicative,” by one property/casualty insurance trade association. “We believe it is the role of the Michigan Office of …
