The blueprint for the company was originally conceived by an ad hoc task force of senior executive officers from several mutual property/casualty insurance companies in response to the liability insurance crisis of the mid-1980s. This month, NAMIC Insurance Co., Inc., …
U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $2.175 billion for second-quarter property losses resulting from a total of six catastrophes in 25 states — tying the record for the second-lowest number of catastrophes in a …
Insurance companies have taken exception to a reported accusation by Florida Gov. Charlie Crist that the insurance industry has broken its promises to lower rates and help restore the state’s private property insurance market. In the July 3, 2007 edition …
Florida Chief Financial Officer Alex Sink ordered a 50 percent cut in the 2008 Workers’ Compensation Administration Trust Fund assessment rate. The reduction is projected to result in as much as $19 million in savings that can be passed on …
The Property Casualty Insurers Association of America (PCI) announced it has requested that Louisiana Gov. Kathleen Blanco veto SB 233, which the insurer group says would dramatically raise the state’s minimum automobile liability insurance limits and increase auto insurance premiums …
Property/casualty insurers are complaining that the Florida Office of Insurance Regulation is “off the mark” in developing rules implementing a law passed in 2003 addressing insurers’ use of credit information. Since the Legislature passed the National Conference of Insurance Legislators’ …
As Ed Rathje sees it, his first foray into the Nevada Legislature as a citizen-activist ended in “total defeat” earlier this month when a bill he was pushing to limit the insurance industry’s use of credit histories to set rates …
The family of a Puyallup, Wash., firefighter has filed a lawsuit claiming the city of Puyallup and its insurer illegally denied health benefits after the worker contracted a disease on the job that eventually led to his death. David Potter, …
The insurance industry holds investments in municipal bonds worth more than $320 billion, investments that help fund construction of schools, roads, and hospitals, and support a variety of other public sector activities, according to a new industry study. The report …
An insurer has agreed to pay $20 million in what is believed to be the state’s richest settlement of a bad faith claim. According to the plaintiff’s attorney, Robert Mongeluzzi of Saltz Mongeluzzi Barrett & Bendesk, Princeton Insurance Co. has …
