Suspended Pennsylvania Superior Court Judge Michael T. Joyce intends to stand trial on federal money laundering and mail fraud charges, according to his lawyer. Attorney David Ridge refused to comment on the defense strategy, but said Joyce would “absolutely” go …
U.S. Rep. Melvin L. Watt, D-N.C., chairman of the House Subcommittee on Oversight and Investigations, will oversee a hearing today on Capitol Hill to consider the implications for consumers of the growing use of credit-based scores by insurers. Watt said …
Insurers have until Oct. 31 to review the discounts they offer for policies in Louisiana that don’t cover wind or have high hurricane deductibles, according to a bulletin issued by the Louisiana Department of Insurance. Department officials believe many policyholders …
Will increased competition and lower pricing lead U.S. property/casualty insurers to skimp on reserves? Not according to a report published by Standard & Poor’s Ratings Services. The article, “For U.S. Property/Casualty Insurers, Is Less-Disciplined Reserving Once Again On The Horizon?,” …
Quad/Graphics and its insurer are entitled to $63 million in damages from the 2002 collapse of a shelving system that ignited a fire at the publishing giant’s Lomira plant, according to a jury verdict. The jury deliberated for 2 1/2 …
Alabama, California, Montana, Rhode Island and Washington will begin requiring insurance companies to file annual statement data as part of a growing effort to make market conduct exams more efficient that now includes 30 states. The 30 states require companies …
Property insurers in Louisiana should continue mediating outstanding claims of homeowners who sustained damages in Hurricane Katrina and pay the costs of the sessions, although they are not legally obligated to do so, state Insurance Commissioner Jim Donelon told the …
For the vast majority of policyholders, nothing will change on Oct. 1. Policyholders will still maintain the insurance coverage they had in place on Sept. 30 for the duration of their contract. Auto insurance policies are renewed every six months …
An industry executive, representing a coalition of 14 large U.S.-based insurance groups, told the U.S. Senate Finance Committee on Wednesday that a major tax advantage for certain foreign insurance groups could threaten the future of the domestic insurance industry. The …
The U.S. property/casualty insurance industry’s overall profitability as measured by its annualized rate of return on average policyholders’ surplus (or statutory net worth) slipped to 13.1 percent in first-half 2007 from 13.5 percent in first-half 2006 as underwriting results deteriorated. …
