Insurers and reinsurers may have weathered the global financial crisis comparatively well so far, but they could be facing another threat. “We’re not capitalized enough,” was the way Michael O’Halleran, executive chairman of Aon Benfield, put it at the recently …
A state workers’ health insurance plan in Oklahoma recently came under renewed criticism when state lawmakers and plan administrators said it may take months to get rid of a backlog of more than 200,000 unpaid health care claims filed by …
The Illinois Department of Financial and Professional Regulation’s (IDFPR) Division of Insurance has ordered First Farm Credit Services to discontinue its Patronage Program, calling the program an “improper rebate.” The insurance division said the action resulted from a Professional Independent …
The nation’s insurance industry found some things to like and not to like in Treasury Secretary Timothy Geithner’s proposed restructuring of financial services regulation. While Secretary Geithner said that any federal regulatory authority should not replace state regulation of insurance, …
The Iowa General Assembly is considering several insurance-related bills that could pose threats to consumers, including one that would expand wrongful death claims to allow recovery of highly speculative damages, which would likely increase the value of claims and drive …
When it comes to an agency’s satisfaction with its personal lines insurance companies, commissions do not rank as tops. Nor do commissions rank second. In fact, out of six satisfaction factors, compensation from an insurer ranks dead last, according to …
A group of insurance agents asked a federal appeals court on Monday to revive an age discrimination lawsuit over the Allstate Insurance Co.’s decision to switch thousands of them from employees to independent contractors. In oral arguments, a three-judge panel …
Two Des Moines area insurance companies have called off plans for a merger. American Enterprise Group Inc. of Des Moines and Homesteaders Life Co. of West Des Moines said in a joint statement that they’ve nixed the deal. The companies …
While insurance consumer advocates step up their criticism of insurers’ use of credit scores, the American Insurance Association (AIA) and Property Casualty Insurers Association of America testified before a Minnesota Senate committee against legislation that they said would take away …
According to a study from Australian insurer NRMA, part of the Insurance Australia Group (IAG), younger drivers, who listen to music while at the wheel, are acting dangerously. NRMA said its research “revealed almost one in two (44 per cent) …
