The Michigan Supreme Court has agreed to hear a case involving a ban on the use of credit scoring by insurance companies. In 2005, the Office of Financial and Insurance Regulation’s (OFIR) promulgated rules banning the use of insurance credit …
A wildfire that began on May 5 in Santa Barbara County, Calif., continues to burn, increasing 448 percent from 500 acres burned yesterday to 2,739 acres burned and at least 20 homes destroyed as of this morning, according to the …
The Ohio Insurance Institute (OII) says the City of Toledo, and other cities and municipalities considering an additional revenue stream by charging insurers for fire department service runs to local residences should be aware that some personal lines insurers exclude …
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. Insurance Journal Audio Demotech on Florida Property Insurance: An interview with …
U.S. Health and Human Services Secretary Kathleen Sebelius Wednesday said a proposed government health insurance plan backed by President Barack Obama would compete with private insurers rather than lead to a socialized system as Republicans claim. In her first appearance …
The New York State Insurance Department has sent a reminder to all car insurers in the state that an admittedly confusing new law requires carriers to collect a $10 annual fee for each policyholder — at least for now. The …
The Insurance Council of Texas (ICT) announced it has joined with the Texas Auto Burglary and Theft Prevention Authority in a crime prevention campaign aimed at preventing auto thefts and auto burglaries in southeast Texas. The program involves the funding …
Billionaire Warren Buffett on Sunday criticized some life insurers for taking on “crazy” financial risks by selling variable annuities, or retirement products that promised unrealistic guarantees to buyers. The products are tied to stock market performance and in some cases …
The Indiana General Assembly has passed House Enrolled Act (HEA) 1246, which removes a provision in Indiana law requiring insurance companies to re-rate an insurance policy at least once every three years based on current credit information, according to the …
A year-long investigation by the Maryland Insurance Administration has found that 67 of the state’s 119 car insurers underpaid claims, Commissioner Ralph S. Tyler said. State regulators have fined the companies a collective $235,000 and ordered an additional $442,590 in …
