The Mississippi Legislature put its stamp of approval on a comprehensive homeowner mitigation program earlier this week, giving final approval to HB 753 and sending it to Gov. Haley Barbour. The program has the potential to substantially reduce the threat …
A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to German insurer Wuerttembergische Versicherung AG (WuerttVers) with a stable outlook. “The ratings reflect the company’s excellent business profile in the …
Connecticut Attorney General Richard Blumenthal said the state Department of Insurance (DOI) has failed to hold an insurance company accountable for “repeatedly and unconscionably denying consumers promised health benefits.” After seven months of what he terrms “prodding and cajoling” the …
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 …
A woman and two sons who run a string of Detroit-area auto body shops have been charged with conspiracy, fraud and racketeering on accusations that they tricked insurers out of millions of dollars through false claims. Attorney General Mike Cox …
Recent “near term” hurricane prediction models based on five-year forecasts are being skewered by consumer groups urging state regulators to reject them as a basis for hiking coastal property insurance rates. The Consumer Federation of America and the Center for …
Commissioners in Radnor Township, Pa. last month voted to end a plan to bill out-of-town motorists involved in traffic accidents for police services but insurers want to make sure other towns don’t try it. The Property Casualty Insurers Association of …
The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent for the year. St. Paul Travelers’ earnings rose sixfold in the fourth quarter, American International Group’s rose eightfold. A …
The widow of New York Yankees pitcher Cory Lidle has sued MetLife Inc., claiming she is owed more than $1 million under baseball’s benefit plan. Lidle died in the crash of his small plane Oct. 11 and was covered by …
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 of a megadisaster, when federal aid would be needed. That was …
