Lawyers for major insurance companies are asking a federal judge to dismiss a lawsuit that accuses insurers of trying to profit from a grant program for homeowners devastated by Hurricane Katrina. U.S. District Judge Stanwood Duval Jr. heard arguments Jan. …
A report from A.M. Best examines the latest twists and turns of the European Union’s much discussed (and long delayed) implementation of the Solvency II regulations. Best notes that the “current turmoil in the financial markets underscores the importance of …
According to Deirdre Littlefield, president of the International Union of Marine Insurance (IUMI), “While the insurance industry may be more insulated from failure than others in the financial sector, it will not entirely escape the damage done by the current …
State insurance regulators voted against a proposal to loosen capital requirements for the battered life insurance industry, shooting down hopes for up to $30 billion in relief. The National Association of Insurance Commissioners (NAIC), a group representing regulators in all …
Nick Starling, the Director of General Insurance and Health of the Association of British Insurers (ABI), issued the following comment on the publication of the Competition Commission’s final remedies on Payment Protection Insurance (PPI). “The ABI supports any measures that …
“The marine insurance industry is facing one of the most crucial periods it has ever met, and underwriters, given the devastating fall in volumes and values in global trade, will have to ‘run hard to stay in place over the …
According to the Aon’s newly launched “Market Pulse,” underwriters expect motor [auto] insurance premiums for UK companies to increase in the first quarter of 2009. Aon said its new quarterly index “will track UK underwriters’ premium predictions for property, liability …
The Wisconsin Supreme Court has ruled in favor of the insurance company in a closely-watched case involving a farmer’s business auto policy and whether its underinsured motorists endorsement applies to a family member hurt while driving in a different vehicle. …
Property/casualty insuerrs are urging North Dakota lawmakers to defeat a bill that would preclude their use of credit scoring in calculating insurance premiums. The North Dakota Senate Industry, Business & Labor Committee was scheduled to consider the bill, SB 2330, …
A jury verdict that nine insurance companies are liable for costs of cleaning up PCB pollution of the lower Fox River in Wisconsin has been upheld by a Brown County judge. The jury had found that the insurance firms were …
