The cost of doing business in New York State is substantially higher than in most other states because employers here must pay more for employee benefits, workers compoensation, energy, taxes and other costs, according to a new “Just The Facts” …
Massachusetts lawmakers have passed an insurance fraud bill that targets so-called “runners” who recruit others to participate in staged car accidents to collect the insurance. The bill makes the practice a felony punishable by up to five years in prison. …
Massachusetts Gov. Mitt Romney is blocking a bill that Democratic lawmakers hoped would expand access to insurance for long term care, saying the state can’t afford a tax cut that would cause a $10 million annual loss of revenue. Romney …
At least 40 states have approved a settlement in an investigation of UnumProvident Corp., requiring the disability giant to reconsider about 200,000 claims and pay a $15 million fine, insurance officials involved in the deal said. Approval of the settlement …
The Texas Department of Insurance announced its participation in a nationwide settlement with three disability insurers owned by UnumProvident Corp. over allegations of improper claims handling practices. The settlement was reached by lead insurance regulators in Maine, Massachusetts and Tennessee …
The Citizens and Hanover Insurance Companies announced the appointment of Robin Nicks as regional president of Hanover Insurance Company’s Southern region, including the companies’ Atlanta, Dallas, New Orleans, Richmond and Tulsa offices, effective immediately. Nicks will be responsible for all …
At least 40 states have ratified landmark multi-state settlement agreements involving three major disability insurance carriers owned by UnumProvident Corp. of Chattanooga, Tenn., insurance regulators announced Tuesday. “We have 40 signed agreements in hand and three states who have asked …
Nuts & Bolts: The private client group of American International Group has a product that adds flood coverage to certain homeowners’ policies. This move is aimed at properties located in low- to moderate-risk areas the government-designated B, C and X …
Nuts & Bolts: BVSA Marine Insurance is now offering coverage for recreational watercrafts up to 32 feet. Dollars: Liability limits of $500,000 are available. Deductibles range from 1 to 3 percent with no minimum premiums. Carrier: American Reliable rated “A,” …
Center stage will belong to government in 2005. While it lacks the sizzle of themes from prior years–consolidation, convergence, digitization and hard market–it will have a more immediate and profound impact. The industry’s business practices and competitive landscape have long …
