The 11 wildfires burning in Southern California should not result in large individual insurance company losses, according to a recent report by Goldman Sachs Analyst Thomas Cholnoky. Instead, he predicts nontraditional markets will witness the heaviest losses. According to the …
Exclusive Video California Wildfires: Insurance Industry Assesses Impact California Wildfires: Insurers On Site at Evacuation Centers The insurance industry is estimating that the damage from the wildfires in southern California could reach at least $500 million in insured losses. The …
The Property Casualty Insurers Association of America said that it is “strongly opposed to the recent proposal by the New York State Insurance Department that would reduce collateral requirements for that state (See IJ web site Oct. 18, 19). “The …
The New Jersey-based Chubb Group announced that Federal Insurance Company, a member of the Chubb Group of Insurance Companies, has received approval from the China Insurance Regulatory Commission (CIRC) to convert its Shanghai branch to a wholly owned insurance subsidiary. …
A federal judge on Wednesday threw out a so-called “whistleblowers”‘ lawsuit that accuses insurance companies of overbilling the federal government for Hurricane Katrina’s flood damage to Louisiana homes. Allan Kanner, the New Orleans-based attorney who filed the suit on behalf …
Citizens Property Insurance Corp. opened a mobile claims center in Pensacola today to help policyholders with property damaged by tornadoes that ripped through the area, a Citizens official said. “We opened the center this morning (Friday) and had 18 claims …
Physician-owned liability insurer The Doctors Company is expanding its market by acquiring SCPIE Holdings Inc., a provider of healthcare liability insurance in California and Delaware. Following the merger, The Doctors Company says it will insure nearly 19,000 physicians in California …
A British insurance company has asked a New York state court to confirm an arbitration award that directs imprisoned corporate thief L. Dennis Kozlowski, former head of Tyco International Ltd., to pay nearly $2 million (euro1.4 million). The petition was …
The Nebraska Department of Insurance announced earlier this month that James Almond III, dba Viking Glass, was sentenced by District Court Judge Thomas Otepka on three felony counts of insurance fraud. Almond had been accused of submitting bogus invoices for …
Two wholly owned units of Cathay Financial Holding Co. have obtained approval from Chinese regulators to enter the property insurance market on the mainland, the Taiwanese company has said. Cathay Life Insurance Co. and Cathay Century Insurance Co. have received …
