An audit by the North Dakota Department of Insurance found that Noridian Mutual Insurance Company, doing business as Blue Cross Blue Shield of North Dakota (BCBS), racked up tens of thousands of dollars in excessive expenses paid with policyholders premiums. …
Wisconsin Insurance Commissioner Sean Dilweg will hold a hearing Sept. 14 on the use of consumer credit information in personal lines insurance policies. The public hearing with invited testimony will take place beginning at 10:00 a.m. at the Wisconsin State …
Senate Finance Committee Chairman Max Baucus has circulated a healthcare reform proposal he hopes will win support from both Democrats and Republicans. The proposal is based on weeks of intense negotiations by a bipartisan group of six Finance Committee members …
Property/casualty insurance companies report that the number of claims suspected of possible fraud has jumped 13 percent for the first half of this year compared to last year’s first six months. A review of suspicious insurance claims referred to the …
Insurance companies providing medical malpractice coverage in Missouri returned a profit in 2008, marking the fifth consecutive year of positive earnings, Missouri Department of Insurance says. The department said its annual report on the industry shows increased profits are due …
In a recent meeting of a task force considering privatizing Oklahoma’s state-backed workers’ compensation insurer, CompSource Oklahoma, Nevada insurance executives said workers’ comp rates have dropped in that state since the agency providing such insurance was privatized 10 years ago. …
North Carolina Insurance Commissioner Wayne Goodwin said that $6.5 million will be returned to 661 employers who formerly were members of the Phoenix Fund Inc., a self-insured workers’ compensation fund that was put into rehabilitation nearly three years ago. Phoenix …
Miami-based First Commercial Insurance Co. and its subsidiary have been declared insolvent and ordered liquidated about six weeks after being placed under state control. All policies written by FCIC and its subsidiary, First Commercial Transportation and Property Insurance Co., are …
Most consumers of auto and homeowners insurance seem to be happy with their insurers, says a new industry study. A new public opinion study by the Insurance Research Council (IRC) reported that 91 percent of respondents with auto insurance said …
Results Based on Insurers’ Growth June 30, 2009, versus June 30, 2008 As I write this article, the unemployment rate in the United States was reported to be 9.4 percent as of the end of July. Gross Domestic Product (GDP) …
