Arizona workers compensation carriers have filed for a 7.9 percent rate increase to take effect Oct. 1, 2008, according to the National Council on Compensation Insurance. By industry group, the rate increase would include a 6.2 percent increase for manufacturing; …
New York has enacted a bill requiring a showing of prejudice before insurers can disclaim coverage for late notice. The bill amends Section 3420 of the New York Insurance Law to require liability policies to provide that insurers may not …
American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led to an unexpected $5.36 billion quarterly loss. Willumstad, …
Insurers are calling upon the the North Carolina Insurance Underwriting Association, known as the Beach Plan, to release its financial information to allow consumers, lawmakers and insurers to begin working on long-term solutions for the state’s homeowners’ insurance system. At …
The U.S. insurance industry’s exposure to securities issued by Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs), is substantial for a handful of companies. Nevertheless, A.M. Best Co. does not foresee substantial write-downs, as much of the industry’s exposure …
The Florida Office of Insurance Regulation reported the latest claims tallies as of today (Aug. 29) for five of the state’s highest volume insurers. As of 9 a.m. EDT, state-backed Citizens Property Insurance Corp. reported a total of 3,118 homeowners’ …
For the golf industry, 2008 business is at best a bogey — probably worse. And for the agents, carriers and program managers who cater to the golf and country club world, that’s made for a rough market, lately. Three key …
French insurance companies Scor and CNP posted higher first-half earnings on Wednesday after managing to ride out the credit crisis in the global financial markets. Scor, the world’s fifth-biggest reinsurer, said first-half net profit rose 24 percent from last year …
The Zurich Financial Services Group announced that TEB Sigorta A.S. is now operating under the global Zurich brand and the registered name Zurich Sigorta A.S. Zurich acquired a 100 percent interest in the Turkish insurer last January (See IJ web …
A handful of insurers holding equity in U.S. home-funding giants Fannie Mae and Freddie Mac could see big losses if a federal takeover wipes out the value of the agencies’ common and preferred stock, as some investors fear. “There are …
