The Demotech Company Classification System Shows 62 Carriers Meet Critieria The original criteria and objective definition for the Near Nationals was established in the Feb. 12, 2007 issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one …
Two companies that once insured Appleton Papers Inc. are liable for $10 million toward the cleanup of the Fox River after a court decision on June 8, the firm’s lawyer said. Attorney Ron Ragatz says the ruling by the Wisconsin …
Not Up to Speed “I don’t think speed is in your vocabulary yet. People are just trying to survive.” —Florida CFO Alex Sink telling BP senior VP Bob Fryar his company is not moving quickly enough to pay claims from …
Reinsurance pricing at the June 1 Florida renewal are down by 10 percent to 12 percent on average, on a year-over-year risk adjusted basis. That’s according to reinsurance intermediary Guy Carpenter & Co., which says the decline reflects a return …
Maryland Gov. Martin O’Malley has a new proposal aimed at boosting the amount of venture capital for businesses like bioscience companies. The governor rolled out the proposal earlier this month during a speech to academic, business and government officials in …
Massachusetts Attorney General Martha Coakley is proposing new regulations that she says will rein in sales and underwriting practices for auto insurers and agents in the state. The regulations come in response to a report issued by her office in …
Surplus Battle “It’s pretty much as outrageously unconstitutional, illegal and in-your-face as it gets.” —Kevin Fitzgerald, a lawyer for the policyholders of New Hampshire’s Joint Underwriting Association (JUA), a state-created medical malpractice insurance fund from which lawmakers are trying to …
A former executive at Rhode Island’s dominant workers’ compensation insurer was acquitted last month on a charge that he deceived state regulators about companies that were receiving discounted premiums. Superior Court Judge Edwin Gale acquitted David Clark, a former vice …
Reauthorization Needed “Congress needs to pass a long-term extension because homeowners living in flood prone regions of the country don’t have anywhere to turn should another major flood occur during this Congressional recess.” —Blain Rethmeier, spokesman for the American Insurance …
Florida’s property insurance companies haven’t suffered hurricane losses for nearly five years, but many claim to be losing money even while collecting hefty premiums. It’s a complex paradigm for almost anyone to follow. “We keep going round and round and …
