Insurers News

Church Fraud Hurts Both Congregation and Insurers

Church music director Carva White faced the music after launching an unholy plan to burn down his house of worship for an insurance payout. White played hymns for the Sunflower Missionary Baptist Church in Leavenworth, Kan. He recruited the head …

Indiana’s Ritchie Insurance Joins Keystone Insurers Group

Muncie, Indiana-based Ritchie Insurance agency has joined Pennsylvania Keystone Insurers Group, brings Keystons’ franchise total in Indiana to 26 agencies. Ritchie, formed in 1937, is a full-service agency owned by Casey Ritchie and William Ritchie. Casey Ritchie, vice president of …

Missouri Consumers Better Protected Against Insolvent Insurers

Financially strapped insurance companies in Missouri will soon face tighter oversight, thanks to a new law signed by Gov. Jay Nixon. Senate Bill 583, which takes effect Aug. 28, spells out the specific standards the Department of Insurance will use …

Insurers Refute Oil Spill Rumors, Prepare for Consequences

The oil well may have been capped, but the fallout from the Deepwater Horizon spill is far from over for the offshore energy and insurance industry. However, as of right now, rates and capacity in the insurance marketplace have not …

Calif. Considers Encouraging Insurers to Go ‘Green’

The California Senate Appropriations Committee is considering a bill that would establish a new program to encourage insurer investments in qualified environmentally friendly investments. Specifically, AB 1011 would authorize insurers to claim a tax credit against the gross premiums tax …

Insurers’ Plans for Oil Industry Sought

In the wake of the BP oil disaster, more than 50 U.S. and other environmentally active global investors sent letters to major energy companies asking them to disclose information on their spill prevention and response plans for their offshore oil …

Colorado Medical Malpractice Insurer Fined $48,400

Colorado’s Department of Regulatory Agencies Division of Insurance has fined Denver-based COPIC, one of the state’s largest medical professional liability insurers, following a market conduct examination. According to the DOI, COPIC had “numerous issues” related to its long-term care insurance …

North Carolina Health Insurer Cuts Jobs

North Carolina’s largest health insurer says it plans to lay off about 90 people as part of cost-cutting moves to prepare for the new federal health care law. The News & Observer reports Friday that Blue Cross and Blue Shield …

Weather Experts Discuss Why Insurers, Others Need Better Warning Systems

Asia’s heavy monsoons, a record heatwave in Russia and severe droughts in Africa show the need for new yardsticks to rate extreme weather to guide everybody from road builders to insurance companies, a U.N. expert said on Friday. Scales exist …

Texas Warns Insurers on Auto Claims

Texas Insurance Commissioner Mike Geeslin has released a bulletin reminding auto insurance providers that it is against state law to “directly or indirectly limit the insurer’s coverage under a policy covering damage to a motor vehicle.” Specifically, the Texas Insurance …