The California Legislature has passed SB 430, designating $1.3 billion from participating insurers to fund the California Earthquake Authority (CEA). This additional $1.3 billlion contribution is being made with no compensation to the particpating insurers (PIs), and brings total financial …
The federal government may be overpaying private insurers for their operating costs associated with the National Flood Insurance Program (NFIP), a recent report said. The government’s payments to insurance companies for operating costs ranged from “more than a third to …
In testimony today before the North Carolina Building Code Council, the American Insurance Association urged that stronger hurricane resistant construction standards be required for all areas of the coast vulnerable to hurricane-force winds. “Adopting and enforcing all building code provisions …
Six years after September 11, 2001, the threat of terrorist attack remains a source of tremendous uncertainty for the United States economy, with potentially negative consequences for both business interests and employment, according to the Insurance Information Institute (I.I.I.). “Besides …
Endurance Specialty Holdings Ltd., a Bermuda-based provider of property and casualty insurance and reinsurance, reports that one of its U.S. based holding companies is buying out ARMtech Insurance Services, Inc. and its affiliates. ARMtech is the fifth largest underwriter of …
A three-week Florida special legislative session scheduled to begin Sept. 18 has been postponed, meaning lawmakers will probably not act to halt the Oct. 1 expiration of a key no-fault auto insurance law. The session was to focus on a …
A federal judge in Chattanooga, Tenn. has granted class-action status to a lawsuit that contends Unum Group, the nation’s largest disability insurer, schemed to deny or terminate claims of thousands of disabled Americans. The suit contends Unum Group violated the …
State Farm Insurance Co. does not have to pay to defend the Rev. Jeffery Stallworth of Jackson, Miss., from a civil lawsuit filed by a Maryland woman who accused him of sexually assaulting her in 2001 in her home, a …
Finding the charges lack any factual support, a federal judge has dismissed a big antitrust conspiracy case that was lodged against large commercial insurance brokers and insurers back in 2004 when bid rigging and account steering probes were in full …
A ruling by the Alaska State Supreme Court requiring insurers to re-rate all policies at the very first renewal as if credit information was never considered will have the unintended result of forcing good insurance risks to pay more — …
