Top 10 hail cities
Hail events remain a constant threat to property and casualty insurers. In 2005 alone, there were over 13,000 hail storms in the United States. According to Swiss RE, four out of the top 20 most costly insurance losses of 2005 …
People and Places
The National Association of Insurance Commissioners named its 2007 committee chairs and vice chairs. The new assignments are for one year: International Insurance Relations Committee: chair, Diane Koken, commissioner, Pennsylvania Insurance Department, and vice chair, Dorelisse Juarbe Jiminez, commissioner, Puerto …
Top 10 tornado cities
The violent thunderstorms in Central Florida in early February, spawned powerful tornadoes that killed at least 20 people is a deadly reminder of the constant threat insurers face against tornado exposures. Tornado-related losses account for 24.5 percent of insured catastrophe …
Auto fraud crackdown benefits Mass. urban insureds
High-profile crackdowns on auto insurance fraud have resulted in dramatic savings for drivers in some Massachusetts communities. The statewide average premium is scheduled to drop by nearly 12 percent on April 1, but drivers in some communities where antifraud task …
HARLEYSVILLE WORCESTER REDOMESTICATES TO PA.
Massachusetts officials have given the green light to the redomestication of Harleysville Worcester Insurance Co. to Pennsylvania. The company is a subsidiary of Pennsylvania-based Harleysville Insurance Group, whose officials sought the move in order to lower administrative and actuarial costs. …
Declarations
Common thread “The common threat that brought us together is terrorism. That was our springboard.” Jonathan Edmondson, operations manager of the British Red Cross, at a meeting in New York of government and American Red Cross disaster experts from New …
It Figures
$1 million The punitive damages amount to be lodged against State Farm after the federal judge overseeing the Mississippi Katrina claims cases reduced a recent $2.5 million jury award. U.S. District Judge L.T. Senter ruled that a punitive damage award …
TJX Facing Multi-State Probe, Mounting Lawsuits Over Data Breach
Massachusetts’ attorney general said last week that her office was leading a civil investigation by dozens of states into a computer security breach by a hacker who stole customer data from TJX Cos., owner of discount retail chains including T.J. …
Levees in 27 states at risk; could trigger flood insurance mandate
The Army Corps of Engineers reported recently that 122 levees from Rhode Island to California are at risk of failing, potentially affecting thousands of people and requiring millions of dollars in repairs. Six states in the Midwest are affected including …
Mass. Governor Chooses Justice Burnes as Commissioner
Massachusetts Gov. Deval Patrick has named Superior Court Justice Nonnie Burnes to be commissioner of the state’s Division of Insurance. Burnes has been a Superior Court justice since 1996, and was a member of the law firm Hill and Barlow …
