The State of Washington’s Insurance Commissioner’s proposal regarding a state-run, flood insurance program would probably hurt the insurance market and policy holders throughout the state, the Property Casualty Insurers Association of American said in a response. The Commissioner, Mark Kreidler, …
A state economic development board is approving tax breaks for several projects aimed at bringing new jobs to Michigan. One of the companies approved for the tax breaks is Auto-Owners Insurance Group in Delta Township, near Lansing. Gov. Jennifer M. …
The House Financial Services Committee has adopted an amendment ensuring that all lines of property/casualty insurance would be exempted from the jurisdiction of the new proposed federal Consumer Financial Protection Agency. Proposed by Rep. Gwen Moore, D-Wisc., and Erik Paulsen, …
Illinois Director of Insurance Michael McRaith has suspended the operations of medical liability insurer Professional Liability Insurance Company of America (PLICA). Under the Department of Insurance order dated Oct. 22, 2009, PLICA is prohibited from writing new policies or renewing …
Economists have declared the Great Recession over, but its lingering effects will continue to chip away at commercial property/ casualty premiums through 2010, according to insurance experts. A new Advisen Ltd. briefing says that the damaged economy will keep rates …
The United Arab Emirates National Health Insurance Company, Daman, and Munich Re have extended their strategic alliance and partnership. The bulletin noted that the “initial five-year agreement between both firms was signed in 2005 when Daman was set up. Due …
Democrats in Congress moved Wednesday to repeal the health insurance industry’s exemption from antitrust laws, cranking up the pressure in a growing battle over President Barack Obama’s healthcare reform plans. The moves were the latest chapter in an escalating feud …
If the stock market and weather are any indication, third-quarter earnings reports from insurers will look a lot better than they did a year ago. The big companies, which began their reporting season today with Travelers Cos.’ results, are expected …
Standard & Poor’s Rating Services is refining and adapting its methodology for assessing insurance companies’ enterprise risk management (ERM), as set out in a recently published article, “Expanded Definition Of Adequate Classification In Enterprise Risk Management Scores.” S&P said it …
BrickStreet Insurance is looking to shed about 24 jobs as it continues adjusting to a market in which it’s no longer the sole provider of workers’ compensation insurance in West Virginia. President and CEO Greg Burton says buyout offers have …
