The number of class action lawsuits filed against insurance companies in the U.S. increased sharply during the 1990s prior to the passage of the federal Class Action Fairness Act of 2005 (CAFA), according to a RAND Corp. report. About 90 …
The head of the Iowa Insurance Division will meet with legislators to explain why the agency is keeping secret the details of a $750,000 civil penalty against an Indiana insurance company. Insurance Commissioner Susan Voss will discuss the matter with …
Florists’ Mutual Insurance Company (Hortica), an Illinois-based provider of employee benefits and insurance to companies in the horticultural industry, announced that a locked shipping case containing magnetic backup tapes cannot be located. Hortica believes that the backup tapes contained personal …
The South Carolina Senate has passed workers’ compensation reform legisaltion but many observers are not impressed and hope the House will do a better job. The bill, S. 332, moves to the House this week. Backers hope it will hep …
The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent. St. Paul Travelers’ earnings rose sixfold in the fourth quarter, American International Group’s rose eightfold. A year and a …
New York Attorney General Andrew M. Cuomo has negotiated a settlement affecting nearly 400 New York consumers whose credit reports were unlawfully accessed by an insurance company. Under the settlement, Administrators for the Professions Inc. (AFP), a New York insurance …
Louisiana Gov. Kathleen Blanco has set aside $100 million in her budget to cover insurance issues and state Commissioner of Insurance Jim Donelon thinks it should be used to lure more property insurers to Louisiana. Donelon has proposed legislation for …
Seventeen U.S. insurance companies became financially impaired in 2006, despite a respite for property/casualty insurers from two consecutive turbulent hurricane seasons and more diversified asset portfolios among life/health insurers. That is according to two new A.M. Best Co. special reports, …
But mega-cats need a public-private partnership, first responders and industry agree The best way for the federal government to help property owners recover from a natural disaster is to let private insurers do what they know, except in the case …
New York Attorney General Andrew M. Cuomo has negotiated a settlement affecting nearly 400 New York consumers whose credit reports were unlawfully accessed by an insurance company. Under the settlement, Administrators for the Professions Inc. (AFP), a New York insurance …
