The earthquake that struck Haiti may have caused hundreds of millions of dollars in damages, according to risk assessor Eqecat, which will likely lead to losses even for insurers of well-designed buildings. Eqecat said Tuesday hours after the magnitude 7.0 …
C.M. Moore Insurance of Bowling Green and Al Torstrick Insurance of Lexington will be the first franchises in Kentucky for Keystone Insurers Group (KIG), the nation’s sixth largest privately-held property/casualty agency. The two firms become part of KIG’s network of …
The New York State Insurance Department has ordered insurers Homesite Insurance Co. and Security Mutual Insurance Co. to reinstate 260 homeowners’ policies across the state. Regulators say the insurers improperly cancelled or non-renewed the policies. The department began investigating the …
An insurance company has won a victory over one of its former West Virginia agents who claimed the insurer violated state antitrust law when it cancelled his contracts to sell its life and property/casualty products. The ruling by the West …
The Louisiana Department of Insurance filed a lawsuit in late December 2009 against Infinity Surety of Louisiana Inc., Infinity Surety Agency LLC and George D. Black (collectively, Infinity Surety) alleging the firm has been operating as surety insurance company without …
Health insurance lobbyists are pushing lawmakers to eliminate caps on profits and other administrative spending and delay a hefty, industry-wide tax under the massive healthcare reform legislation being finalized in Congress. Health insurers, which include companies such as Aetna Inc., …
Hundreds of people who canceled a cruise vacation booked though Florida travel agents because of illness say the insurer didn’t pay. Health News Florida reports that Florida’s Department of Financial Services began its investigation into Prime Travel Protection Services a …
The Department of Financial Services helped recover over $22 million for Florida’s insurance consumers in 2009, according to officials. The $22 million represents an increase from $14 million recovered in 2008. Florida CFO Alex Sink said one recent success story …
Baton Rouge, La.-based LUBA Workers’ Comp policyholders’ claims fell more than 4 percent in 2009 compared with 2008. The company said several of the top categories of accidents dropped as well. Slips, trips and falls – the single biggest category …
Total property/casualty insurance agency compensation is expected to decrease slightly in 2010, largely due to contingent commission changes, according to a new compensation study. Four out of 10 insurance companies plan to modify their agent compensation plans in 2010 by …
