Massachusetts lawmakers have approved legislation converting the state’s liquor liability insurer of last resort into a competitive mutual insurance company offering liquor liability insurance to the entire hospitality industry. The Liquor Liability Joint Underwriting Association of Massachusetts (LLJUA) said it …
The Clark Art Institute in Williamstown, Mass. has landed a $5 million grant from the Starr Foundation. The money will be used to fund the directorship of Clark’s research and academic program. Director Michael Ann Holly says the program, founded …
Massachusetts insurance agents and one of the state’s biggest auto insurers have gone to court seeking to overturn state rules that they say give new carriers an unfair advantage under the new managed competition system. They are also challenging a …
The Roman Catholic Diocese of Springfield, Massachusetts, has reached an $8.5 million settlement with insurance companies to pay claims filed by people who were sexually abused by priests. Mark Dupont, a spokesman for the diocese, said $3.5 million will be …
Stepping Up and Out “The boards of directors of these companies are basically having to step up and be more anticipatory, and take steps to show their shareholders and show regulators that they mean business, and that they want to …
The Commonwealth of Massachusetts and its largest private health insurer have decided to prohibit hospitals and doctors from billing for costs relating to fixing medical errors. Health policy analysts say the directives outlined by the state and Blue Cross and …
Hudson Insurance, Hooghuis Hudson Insurance Group, the U.S. insurance division of Odyssey Re Holdings Corp.has acquired Hooghuis Group LLC, an underwriting agency specializing in U.S. directors and officers liability (D&O) insurance. Hooghuis has been underwriting D&O business for Hudson and …
Free-market advocates and some agents applauded last year when Massachusetts Insurance Commissioner Nonnie S. Burnes quickly moved to deregulate the Bay State’s backwards-but-long-established system of personal auto insurance. That move, which took effect April 1, included two fundamental changes: the …
In the past three years, the insured value of properties in coastal areas of the United States continued to grow at a compound annual growth rate of just over 7 percent, according to a new report released by AIR Worldwide …
Republican Presidential Nominee Opposes Idea that Remains Popular with Many Gulf Coast Voters A congressional proposal to create a national “catastrophe fund” to help states recover from natural disasters has put Republican presidential hopeful John McCain at odds with a …
