The Property Casualty Insurers Association of America expressed disappointment over the decision of the Massachusetts Joint Committee on Insurance to approve SB 2093. The bill would place a total ban on the use of credit-based insurance scores for the purpose …
Three months after the insurer and the Massachusetts Bar Association (MBA) parted ways, Westport Insurance Corp. has signed on with the state’s agent association to sell its lawyers’ professional liability program. Wesport, an underwriting division of GE Commercial Insurance, is …
Independent agents and brokers continue to dominate commercial lines and experienced steady growth in personal lines, the Independent Insurance Agents & Brokers of America’s (IIABA) 2002 market share study. The report shows that the commercial lines market grew 19 percent …
The Property Casualty Insurers Association of America (PCI) provided state regulators a preview of the association’s 2004 regulatory modernization initiatives during the industry liaison session of the National Association of Insurance Commissioners (NAIC) held in New York last Saturday. PCI, …
The current Massachusetts auto insurance structure encourages unequal access to the residual market, creating a “two-tiered agency system” that disadvantages voluntary agents, according to the leader of the state’s agents association. “ERPs are growing and voluntary agents are shrinking,” Frank …
Massachusetts officials, hoping to ease a homeowners insurance availability crisis on Cape Cod and other coastal areas, are studying Florida’s tax-exempt reinsurance fund for answers. In 1993, after the devastation of Hurricane Andrew, lawmakers created the Florida Hurricane Catastrophe Fund …
Policymakers and others interested in comparing workers compensation systems among states have a new tool from the Workers’ Compensation Research Institute, based in Cambridge, Mass. CompScope is a new tool that annually track changes in state trends and system performance. …
The American Insurance Association joined the PCI (See IJ Website Mar.9) in announcing its opposition to a Massachusetts bill (SB 2093) that would ban the use of credit-based insurance scores. The AIA said passage of the measure “would do more …
The CPCU Society’s New England Chapters will present five leadership development seminars. Open to both CPCU Society members and nonmembers. The seminars are scheduled to be held May 21, 2004 from 8:00 a.m. to 4:30 p.m. at the Beechwood Hotel, …
The Property Casualty Insurers Association of America notes that Senate Bill 2093, which seeks a total ban on the use of credit-based insurance scores in auto and homeowners insurance ratemaking, would create even more stress for the already troubled insurance …
