Massachusetts News

Distressed and Vacant Properties Fill a Void for Insurers

The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed in the past couple of years as the economy has forced the closure of …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Contractors Preferred Program Market Detail: Tangram Consulting and Underwriting Services Contractors Preferred Program is a …

Earl Weakens; Latest Advisories from National Hurricane Center

A “larger but weaker” Hurricane Earl is heading for southeastern New England, the National Hurricane Center reported at 11 a.m. EST. The center discontinued its hurricane warning for North Carolina, replacing it with a tropical storm warning north of Ocracoke. …

Earl Weakens, Pounds North Carolina Islands, Heads for Massachusetts

Hurricane Earl battered North Carolina’s coast with rain, winds and waves Friday and swirled up the U.S. eastern seaboard toward New England and Canada as a weakened but still dangerous storm. The impact of the Category 2 storm appeared to …

CMIC Raising Premiums in Massachusetts

Connecticut-based medical professional liability insurer CMIC said it will raise premiums by an average 5.3 percent for Massachusetts health care professionals. The rate change goes into effect October 1. The increase follows an analysis for the firm by Towers Watson, …

Fee Schedule Slowed Growth of Illinois Injured Workers’ Medical Costs

Medical costs per workers’ compensation claim in Illinois showed slower growth in 2007 following implementation of the medical fee schedule in 2006, according to a study from the Workers Compensation Research Institute (WCRI). The study, Monitoring the Impact of Illinois …

Texas’ July Enforcements Include Nearly $500K in Fines, Restitution

Massachusetts Requiring New Form for Out-of-State Workers’ Comp

Massachusetts regulators are requiring out-of-state contractors and other businesses to submit additional paperwork to verify workers’ compensation coverage when working inside the Bay State. The new form applies to businesses with workers’ comp policies where Massachusetts is listed in “other …

InVEST Names Three New Board Members

InVEST, an insurance industry classroom to career education program founded by the Independent Insurance Agents & Brokers of America (the Big “I”), named three new members to its national board: Joey O’Connor, vice president of Insurance Underwriters Ltd.; Richard E. …

Hurricane Preparations Intense, Weather Calm

On Thursday, with Hurricane Earl about 250 miles to the south, and on a trajectory to skim the coast of North Carolina, Larry Whitt of Outer Banks Insurance said the sun was shining in Kill Devil Hills. There was no …