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 …
Consumer Advocates Focus on How Insurers Treat Insureds in Difficult Economic, Credit Climate With consumers’ credit scores dropping as lenders tighten credit terms, insurance consumer advocates are stepping up their criticism of the use of credit scores by insurance companies. …
Editor’s Note: The following commentary originally was addressed to the New York Times in response to a published opinion expressed by Allstate CEO Tom Wilson advocating federal regulation of insurance. In a contributed column that ran in the New York …
Joseph Petrelli is president of Demotech, an actuarial servicing firm based in Columbus, Ohio. He and his team have been tracking the Florida property insurance market and its domestic startup carriers, in particular, for years. Demotech rates many of the …
The original criteria and objective definition for Super Regional P/C Insurers™ were established in the Feb. 12, 2007 issue of Insurance Journal. Prior to the establishment of an industry-wide definition, a number of property/casualty insurers had referred to themselves as …
Barry County Circuit Judge James Fisher issued an injunction April 10 preventing Michigan insurance regulators from challenging insurers’ home and auto insurance rate filings that use credit scoring in determining their premiums. The injunction against the Office of Financial and …
1,000 Emergency management officials in Polk County, Ark., said about 1,000 homes were damaged or destroyed during the tornadoes that ripped through the county on April 9. James Reeves, Polk County emergency management coordinator, said 200 homes were destroyed by …
12 Number of tropical storms Colorado State’s hurricane team estimates will occur in 2009. The research team said of those 12 storms, six could become hurricanes including two “major” hurricanes of Category 3 or higher on the five-step Saffir-Simpson intensity …
Sometimes a Little Adversity Goes a Long Way, Thomco CEO Says A little more than 10 years ago, Greg Thompson, CEO of the Georgia-based insurance services firm Thomco Inc., discovered his accounting manager was stealing money from the company. One …
