Florida officials announced that a new Miami-based insurance company will pick up the insurance for about 15,000 of the policyholders now with bankrupt First Commercial Insurance Co., which is in liquidation. Florida CFO Alex Sink said her office negotiated the …
Companies that sell private mortgage insurance in Missouri suffered their largest losses last year in three decades of record-keeping. The state insurance department says mortgage guaranty insurers had net losses in 2008 of $173 million — an amount equal to …
Property/casualty insurer Ironshore Inc. in Bermuda has completed an equity capital deal that will raise $300 million to support the continued expansion of Ironshore’s specialty insurance business. Lead investors in this transaction include GTCR Golder Rauner, LLC, a private equity …
Missouri insurance regulators have gone to court to stop an Arkansas-based life insurance company from illegally changing the terms of its cancer insurance policies, the Missouri Department of Insurance announced. The DOI alleges Central United Life Insurance Company is trying …
Canada’s home, car and business insurers have urged residents affected by tornadoes that recently tore through southern Ontario to check their homeowner’s policy and contact their insurance representative as soon as possible. “Wind and hail damage due to tornadoes is …
The Golden Eagle Insurance Co. will pay $400,000 to cover environmental investigation costs that the insolvent BKK Corp. was required to perform at its closed hazardous waste landfill in West Covina, Calif., the U.S. Environmental Protection Agency and the U.S. …
Kentucky Insurance Department has approved vendors with software that can help insurance companies comply with a new law on collecting premium taxes. The new state law (HB 524) requires insurers to use a verified electronic system to assess premium taxes …
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 indsutry study. A new public opinion study by the Insurance Research Council (IRC) reported that 91 percent of respondents with auto insurance said …
Florida workers’ compensation insurers are recommending an overall average rate decrease of 6.8 percent statewide, which state officials said would save employers more than $166 million. Florida Insurance Commissioner Kevin McCarty confirmed that he has received the latest rate filing …
