March 18, 2010
The actuarial services firm, Demotech, which rates most of Florida’s newer and smaller domestic property insurers, has published a position paper outlining its approach to its carrier Financial Stability Ratings and the financial and management factors it monitors. Entitled Guidance …
March 17, 2010
Europe’s insurers are able to withstand even a major financial crisis, an EU watchdog said on Tuesday, boosting industry hopes for less onerous regulation. EU insurance watchdog CEIOPS, (the Committee of European Insurance and Occupational Pensions Supervisors) unveiled the long-awaited …
March 17, 2010
The Property Casualty Insurers Association of America (PCI) has requested that South Dakota Governor Mike Rounds veto Senate Bill 169, which PCI says will increase litigation costs and cause higher insurance premiums for consumers. The bill, which passed the South …
March 16, 2010
The Sarasota HeraldTribune, as part of its series on the property insurance market in Florida, has reported that half of the state’s insurers are making money not from insuring homes but by diverting premiums into side ventures. The copyrighted report …
March 16, 2010
Even though they are largely excluded from the federal financial regulatory overhaul proposed in the Senate, property/casualty insurers say there are some elements they fear could negatively affect them and their customers. Sen. Chris Dodd, D-Conn., unveiled his “Restoring American …
March 12, 2010
Thousands of workers who suffered health problems after the Sept. 11 attacks in 2001 have reached a settlement worth up to $657.5 million with an insurer representing the city of New York, city officials and lawyers said Thursday. Thousands of …
March 12, 2010
The California State Compensation Insurance Fund, reported it ended 2009 with $1.25 billion in net premium earned, and $143 million in net income, compared with $75 million in net income earned in 2008, Doug Stewart, interim president and CEO announced. …
March 12, 2010
Arkansas Insurance Commissioner Jay Bradford on March 11 suspended the certificates of authority to conduct insurance business of two New York domiciled property and casualty insurance companies: Centennial Insurance Company and Atlantic Mutual Insurance Company. According to the commissioner’s orders …
March 11, 2010
With the prospects for a controversial rate deregulation bill dimmed by Gov. Charlie Crist’s threat of a veto, the insurance industry is betting on a new wide-ranging insurance proposal to bring some reform to Florida’s property insurance market. A key …
March 11, 2010
Health and Human Services Secretary Kathleen Sebelius ratcheted up the pressure on health insurance companies Wednesday, urging them to forgo short-term profits to make coverage more affordable and to stop fighting the Obama administration’s reform effort. She told a health …