Insurance stocks, led by Hartford Financial, Principal Financial and MetLife, fell Thursday after a lawmaker raised the question of whether a well-known insurer could be in financial trouble. The comment stoked investor concerns, already heightened by worries that insurers will …
The insurer of the Unit 5 school district in Urbana, Ill. is balking at providing coverage in connection with a sexual abuse lawsuit. Cincinnati Insurance contends in a federal lawsuit that an Urbana student identified as Jane Doe-2 and her …
A North Carolina joint legislative study committee began hearings on Sept. 30 regarding the financial health of the state’s Insurance Underwriting Association, a.k.a. the Beach Plan. The Joint Select Study Committee on the Potential Impact of Major Hurricanes on the …
The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability as measured by its annualized rate of return on average policyholders’ …
The mining company faulted for a cave-in that killed six miners in 2007 says it has no position on a worker’s compensation claim filed by the family of one of the victims. Genwal Resources Inc., a subsidiary of Ohio-based Murray …
Texas Insurance Commissioner Mike Geeslin told lawmakers at a hearing on Sept. 24 that compared with previous years, property/casualty insurance companies’ loss ratios will likely be worse “for this calendar year and the first three quarters of 2009,” due to …
Calif. Gov. Arnold Schwarzenegger has signed legislation to help transform the Golden State’s workers’ compensation insurer, the State Compensation Insurance Fund. Assembly Bill 1874 and Senate Bill 1145 are an important step toward increased transparency and strengthened corporate governance for …
Democratic vice presidential candidate Joe Biden said Republican John McCain protected offshore tax shelters worth billions of dollars to U.S. insurance giants. In a trip to the battleground state 0f Virginia this week, Biden said McCain promised to oppose any …
CMIC, a doctor-owned medical malpractice insurer, announced a 2.7 percent overall rate reduction in its claims made rates for Massachusetts doctors effective Oct. 1, 2008. Denise Funk, CEO of CMIC, credited the continued stabilization in the market and said some …
The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment returns. As a result, the U.S. property/casualty industry’s …
