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 overhaul the company. The March 31 quarterly …
Arizona Governor Jan Brewer has named Judith A. Patrick chair of the Board of Directors of SCF Arizona, the state’s largest provider of workers’ compensation insurance. Patrick becomes the first woman appointed to the post, and the Tucson, Ariz., resident …
A federal court ruled that an insurer has a duty to defend and indemnify a flooring company which installed carpets and tiles in a Massachusetts office that were so fume-ridden, they made the building unusable. In a closely watched legal …
Recession Reduces Claims but Poor Investment Climate Frustrates Insurers The workers’ compensation insurance industry experienced a year of mostly solid results in 2008, according to Dennis Mealy, NCCI Holdings Inc. chief actuary. In its annual “State of the Line” report, …
Most of Florida’s smaller domestic property insurers have initiated backup financing plans in the event the state-backed hurricane fund can’t meet its obligations right after a major storm hits. According to an actuary whose firm is reviewing 59 of the …
Five police departments across Oklahoma are using an electronic insurance verification system designed to crack down on uninsured motorists, and state officials said the computerized system should be fully operational in less than two months. State tag agents have been …
Government approval for billions of dollars in taxpayer bailout funds for life insurers is dividing the industry into haves and have-nots, with Ameriprise Financial Incand possibly others rejecting the government’s helping hand. The sector’s finances have improved during months of …
At least four U.S. insurers won approval on Thursday to raise billions of dollars through the government’s bank bailout plan, the U.S. Treasury Department said. Hartford Financial , the No. 4 U.S. insurer and beset by worries about capital, got …
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 reconstituted property/casualty insurer. The move comes …
More European insurers unveiled writedowns on their investments in a second wave of first-quarter results on Thursday, although some said sales were proving relatively resilient. Analysts said investors were left with something of a mixed picture, with signs of improving …
