Florida is the first state to implement a program that officials say will improve services and save money in the administration of insurance company receiverships, according to the state’s Chief Financial Officer Alex Sink. The Department of Financial Services, Division …
U.S. personal lines insurance sector is at a critical juncture, according to an article published by Standard & Poor’s Ratings Services. The article, which is titled “2008 U.S. Personal Lines Outlook: A Quiet Year Fuels Profits, Though Softening Prices Loom,” …
The Justice Department filed a lawsuit accusing the pilot and the Hong Kong-based owners of the container ship Cosco Busan of breaking environmental laws when the ship struck a bridge support in San Francisco Bay, spilling 58,000 gallons of toxic …
Overpaying insurer may not always have cause of action against underpaying company It is common for an insured to have two insurers cover the same risk. When the insured is sued regarding that risk, both insurers have a duty to …
Another very profitable year for commercial lines insurers, sparked by yet another exceptionally mild hurricane season, is emerging for the entire U.S. property/casualty industry, says Standard & Poor’s Ratings Services. An article recently published by S&P, “2008 U.S. Commercial Lines …
Eighteen of the state’s 19 Massachusetts auto insurers amended rate filings for policies with April 2008 effective dates at the state’s Division of Insurance. The latest filings lowered rates from the origianl filings made on Nov. 19. The average reduction …
Two fair-housing groups have sued an Iowa insurance company that pays policyholders’ church tithes if an injury at home leads to lost income. The insurance company also doubles medical limits if someone is hurt while involved in a church-related activity …
A report from Standard & Poor’s Ratings Services concludes that Japan’s top nine non-life insurers recorded ¥173 billion ($1.575 billion) in interim net profits for the first half of fiscal 2007 (ended Sept. 30, 2007), representing a year-on-year increase of …
Attorneys want a federal court to determine whether members of a university baseball team involved in a deadly bus crash earlier this year are entitled to insurance money. A lawsuit filed on behalf of Bluffton University’s players and coaches seeks …
Massachusetts Attorney General Martha Coakley is pressing auto insurers in the state to lower their 2008 rates, arguing that their initial filings last week included more than $200 million in extra profits and payments to agents that wouldn’t have been …
