A Republican draft of legislation to reform the federal flood insurance program would renew the program for five years, phase out most rate subsidies, tie coverage limits to the rate of inflation, vary the deductible by how subsidized the premium …
The U.S. Supreme Court recently declined to hear a workers’ compensation insurance case that concerned an illegal immigrant in Louisiana who had sought coverage after a workplace accident. The Court’s refusal to consider the case means states are left to …
Florida is allowing the Allied World Assurance Co. to meet a lower collateral requirement, making the Bermuda-based foreign reinsurer the ninth such reinsurer the state has approved. “We are encouraged by the number of reinsurers who are participating in Florida’s …
The amount the Texas Windstorm Insurance Association (TWIA) has paid out in litigation costs as a result of lawsuits stemming from Hurricane Ike claims is far too high, says one Texas lawmaker who’s working on legislation aimed at curbing such …
The loss of market share in the surplus lines sector of the property/casualty insurance industry will turn around when standard carriers begin to experience negative results from the non-standard business they’ve taken on in the past few years. The reason? …
