The Illinois Supreme Court in early February ruled that an Illinois law enacted in 2005 that capped non-economic damage awards in medical liability cases is unconstitutional. The American Bar Association says the Court was right in striking down the law, …
The Nebraska Supreme Court on Feb. 5 upheld a decision ordering two insurance companies to pay about $550,000 of the cost of cleaning up industrial contamination in Hastings. The ruling sets the standard in Nebraska for determining how much insurance …
Failed to Operate “The current system for assessing, determining, and applying windstorm mitigation discounts has failed to operate as intended and has contributed to problems in the residential property insurance marketplace.” —Florida’s Commission on Hurricane Loss Projection Methodology in its …
The private crop insurance industry is blasting a proposed restructuring in the crop insurance program it says would cut $4 billion — or $800 million a year — over the next five years. The proposal by the U.S. Department of …
Starting February 1, Nevada motorists are required to present proof of insurance at the Department of Motor Vehicles when registering a vehicle for the first time. To assist Nevadans who might not be aware of this new requirement, Insurance Commissioner …
The private crop insurance industry is blasting a proposed restructuring in the crop insurance program they say would cut $4 billion – or $800 million a year – over the next five years. The proposal by the U.S. Department of …
The ProBuilders risk retention group offering general liability insurance for builders and contractors will stop accepting new business and not renew most of its 1,800 policies as of March 1. According to Bill Tepe, chief financial officer for NationsBuilder Insurance …
Aon Risk Services 17th Political Risk Map highlights continued political and financial instability for global business in 2010, closely linked to the ongoing recession in many parts of the world. “Rising risk levels in 2009 have led to a significant …
Characterizations by a recent Washington State Auditor’s report on the state’s workers’ compensation insurance system has the state Department of Labor and Industries (L&I) worried that people will incorrectly believe that the system will become insolvent. The report, which audited …
Total property/casualty insurance agency compensation is expected to decrease slightly in 2010, largely due to contingent commission changes. Four out of 10 insurance companies plan to modify their agent compensation plans in 2010 by hiking premium volume requirements, increasing stop …
