According to a new report from Fitch Ratings, the U.S. property casualty insurance industry’s risk from various subprime mortgage exposures is “minimal.” Fitch said it based its conclusion on an analysis of statutory filings for the entire industry and GAAP …
Massachusetts Insurance Commissioner Nonnie Burnes says four insurers not now writing auto insurance in the state have said they will enter if her plan to allow competitive pricing goes forward. Burnes is not naming the companies but when asked if …
A special committee probing the Durham, N.C. Police Department’s handing of the Duke lacrosse rape case has stopped its work because the city’s liability insurance provider warned that findings could provide material for civil lawsuits. A statement released Monday by …
Insurance companies in New York may not refuse to renew homeowners insurance policies based on whether a policyholder has other business such as an auto or life policy with them, under a new order from the state insurance department. Insurance …
U.S. consumers want insurance companies to more effectively communicate new products and services available to them, provide tailored policies and services to better meet their needs, and bring their customer experience up to par with other industries, according to a …
The London office of Moody’s Investors Service has issued a new “Special Comment” analyzing the current crisis in the US sub-prime mortgage market and “the related uncertainty surrounding structured vehicles.” The rating agency concludes that it “will not have a …
Medical malpractice insurer PMSLIC Insurance Co. has filed for an overall 11 percent rate reduction in Pennsylvania. If approved by the Pennsylvania Department of Insurance, the revised rates will go into effect Jan. 1, 2008. The decision to file for …
Courts in Louisiana already inundated by a wave of litigation against insurance companies over damage from Hurricane Katrina are bracing for a last-minute barrage of lawsuit filings as a deadline nears. Thousands of Louisiana home and business owners are expected …
Oklahoma-based Physicians Liability Insurance Company (PLICO) announced that in just over two years it has overcome a $143 million surplus deficit. Carl Hook, M.D., president and CEO of PLICO, said the company met the goal 1.5 years in advance of …
A poll, conducted by Fitch Ratings, indicates that the banks and insurance companies it rates in the Latin America Region as to the extent they may hold direct or indirect exposure to U.S. subprime backed structured securities, found that “exposure …
