Federal lawmakers once again are preparing to tackle the issue of how states can more effectively regulate the surplus lines insurance market. It’s been tried before, but legislation was recently reintroduced in the U.S. House of Representatives with the goal …
Understanding the Importance of Search Engine Optimization A couple times a year, I hear a clunk at my front door and I’m alerted by my barking dog that someone is there. I open the door to find my new Yellow …
Agents Advised to Know How Trusts Differ From Typical Insurance Companies To start off, what exactly is a workers’ compensation group trust? Per the New York State Insurance Department Web site, it is: [A] group of employers who perform related …
A good old-fashioned fight has developed between Bermuda-based Validus Holdings and the Max Capital Group over the latter’s planned amalgamation with IPC Re. At the end of March, Max announced that it had made a deal with IPC Re’s board …
A federal court ruled that an insurer has a duty to defend and indemnify a flooring company which installed carpets and tiles in a Massachusetts office that were so fume-ridden, they made the building unusable. In a closely watched legal …
The Property Casualty Insurers Association of America (PCI) is praising a recent decision by the Pennsylvania Supreme Court that it says upholds the plain meaning of insurance contracts. The Supreme Court’s, in Ace American Insurance Co. v. Underwriters at Lloyds …
Michigan is objecting to the sale of Chrysler LLC assets to Italian automaker Fiat, claiming the new company won’t meet obligations to a state workers’ compensation fund. State Attorney General Mike Cox has filed papers in bankruptcy court in New …
The Indiana General Assembly has removed a provision in Indiana law requiring insurance companies to re-rate an insurance policy at least once every three years based on current credit information. The decision to re-run credit information will be left to …
Few Signs “Most risk managers continue to see flat or slightly lower premiums at renewal. The insurance market is still very competitive and, while some insurers are predicting an imminent hard market, there are few signs that rates will rise …
Recession Reduces Claims but Poor Investment Climate Frustrates Insurers The workers’ compensation insurance industry experienced a year of mostly solid results in 2008, according to Dennis Mealy, NCCI Holdings Inc. chief actuary. In its annual “State of the Line” report, …
