Maine News

When a House Is a Home … and a Museum

How One Insurance Agency Is Helping Preserve Historic Homes and Businesses While other insurance agents are out visiting manufacturing plants, shopping malls and office parks, Brian Phoebus is hanging out in historic homes, renovated museums, art galleries and performing arts …

State Budget Deficits Could Harm the Insurance Industry

While 2009 was a tough year to do business, state and city leaders say 2010 and 2011 will be even tougher — the outcome of which could have negative implications for the insurance industry. A number of states are struggling …

West Virginia to Create Electronic Auto Insurance Verification System

West Virginia lawmakers want to give police and the courts an easy way to verify whether a driver has required liability insurance. The House has approved a measure previously backed by the Senate to instruct the Division of Motor Vehicles …

As Weather Warms, Property Owners Urged to Buy Flood Insurance

Having flood insurance will be increasingly important this year as spring rain combines in many parts of the U.S. with the melting of record snowfall, according to the Insurance Information Institute. “Many states on the Atlantic seaboard were hit with …

Maine Plaintiffs Lose Ruling in Light Cigarette Lawsuit

Smokers suing Philip Morris and its parent company over light cigarettes will have to start from scratch with their lawsuit in Maine. A federal judge in Bangor has denied plaintiffs’ request to have facts from a previous lawsuit by the …

Losses From Latest East Coast Snow Storm Pegged at up to $300M

Boston-based risk modeling firm AIR Worldwide estimated that the insured losses from the winter storm that struck the East Coast between February 23 and 28 will be between $150 million and $350 million. Total Insured losses from two prior storms …

Obama Officials Say Health Plan Has Republican Ideas

Republicans should find things to like in President Barack Obama’s healthcare reform plan because they were taken from Republican bills or have been advocated by Republicans, the president’s top healthcare reform officials said Thursday. In an opinion piece for The …

Federal Rate Regulation Threatens Solvency, Health Insurers Warn

President Obama’s latest push for a health care overhaul could drive health plans around the country into insolvency, according to an insurance trade group. A plan released Monday by the White House would give the federal government the power to …

Business Moves

OneBeacon, Tower Group Massachusetts-based OneBeacon Insurance Group has agreed to sell its personal lines business to Tower Group Inc. in a deal that comprises two affiliate insurers and two reciprocal insurance exchanges in New York and New Jersey. The agreement …

Business Moves

OneBeacon, Tower Group Massachusetts-based OneBeacon Insurance Group has agreed to sell its personal lines business to Tower Group Inc. in a deal that comprises two affiliate insurers and two reciprocal insurance exchanges in New York and New Jersey. The agreement …