In more fallout from the troubled credit market, ACA Capital Holdings Inc. has agreed to let the Maryland Insurance Administration and Commissioner Ralph S. Tyler assume control of much of its bond insurance division, ACA Financial Guaranty Corp. The company, …
The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net income, policyholders’ surplus — insurers’ net worth measured according to Statutory …
Massachusetts Insurance Commissioner Nonnie S. Burnes has issued a bulletin calling on insurance companies to send written notification to consumers when a settlement payment in any third-party liability claim is made to the consumer’s attorney or other representative. According to …
California’s State Compensation Insurance Fund has appointed Chris Reyes regional assistant real estate manager for Central Valley operations, and Yvette Montano-Anda claims manager for Los Angeles Claims Services. Reyes joined the organization’s San Francisco District Office in 1991 when he …
A state appeals panel ruled that insurers cannot rescind health policies unless they can show policyholders willfully lied on their insurance applications or prove that companies investigated applications before issuing coverage. A unanimous decision by a panel of the 4th …
Acknowledging the ongoing concern over coastal property insurance in his state, Connecticut Insurance Commissioner Thomas Sullivan maintained that the state’s coastal property insurance market is in pretty good shape with more than 100 insurers still writing in the state, even …
A major medical liability insurer will return nearly $100 million to the state of Maryland and local doctors, in a deal announced by state officials. Maryland Gov. Martin O’Malley and Insurance Commissioner Ralph S. Tyler announced that Medical Mutual Liability …
Lawmakers approved using $29 million in taxpayer money as a financial incentive to bring five new property insurance companies to Louisiana. The Department of Insurance required approval from the Legislature’s Joint Budget Committee before they could issue checks to qualified …
Fitch Ratings has issued a report indicating that it is maintaining a stable outlook on the UK non-life insurance sector, “as insurers remain on the path of underwriting discipline in the face of more challenging market conditions.” Fitch’s report notes …
Maintaining underwriting discipline and keeping expenses in line with slowing premium growth will pose major challenges to property/casualty insurers in 2008, according to industry analysts. A panel of experts on industry financial performance outlined whether the current slowing of premium …
