Insurance giant Allstate Corp. is closing its claims office in South Portland, a move that affects 55 people. Company spokesman Mike Siemienas said Wednesday the shutdown will take place by July 31 and is part of a consolidation of claims …
Newly Reconstituted as Kingstone Insurance Co. DCAP Group Inc., an upstate New York franchiser of independent agencies, is ditching its franchise insurance business as part of a strategic move to exit the retail insurance business as it morphs into a …
As the 2009 hurricane season arrives, many homeowners are finding insurance is either more expensive, or harder to get. Homeowners from New York to Florida and in the Gulf Coast region are again seeing premiums rise and coverage change. And …
Law Bars State from Regulating Insolvent PRI New York’s second-largest medical malpractice insurer is more than $43 million in the hole, according to new regulatory filings, but state regulators are legally forbidden from initiating the process to liquidate or otherwise …
The Supreme Court almost never takes up insurance related cases. Even so, President Obama’s recent nominee brings a long record of decisions favoring insurers, a possible plus for the insurance industry, said Philadelphia based insurance attorney Randy J. Maniloff. Maniloff, …
A newly formed U.S. municipal bond insurer, ready to open its doors as soon as it gets credit ratings, expects to launch with about 50 employees and double that number as it ramps up, executives told Reuters. Municipal and Infrastructure …
Based on the recently revised projected claims-paying capacity of the Florida Hurricane Catastrophe Fund (FHCF), rating agency A.M. Best has updated its treatment of reinsurance provided to rated entities from this structure. As it previously indicated, A.M. Best said it …
California’s State Compensation Insurance Fund has filed a mid-year rate plan that reflects a 15 percent increase in collectible premium. The revised rates will apply to new and renewal workers’ compensation policies effective on or after July 1, 2009. “The …
The Insurance Bureau of Canada, which represents 95 percent of the Country’s P/C carriers, has reacted strongly to charges that they oppose reforms in the auto sector. The IBC stated: “An alliance of medical/ rehabilitation providers has issued another press …
Two domestic property insurers no longer writing in the state — one by choice, the other forced– are the only two Florida insurers negatively affected thus far by a rating agency’s review of small domestic insurers. In a May 21 …
