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Wildfires, Hail Take Toll on Colorado Homeowners Insurance

It’s safe to say there’s a lot going on in the homeowners insurance scene in Colorado, where homeowners insurance rates are likely to be on the rise for some time. Insured losses from the recently doused Black Forest fire should …

California Fraud Fugitive Caught After Taunting Tweet

“Catch me if you can.” San Diego County District Attorney Bonnie Dumanis said Wanda Podgurski sent that taunting tweet after skipping trial in January while facing charges of insurance fraud. But then authorities did catch her. Podgurski, 60, was captured …

Doctors, Lawyers Support Oregon Medical Errors Bill

Usually staunch adversaries, doctors and trial lawyers have both gotten behind an Oregon bill creating a new mediation process for patients injured by medical mistakes, which is aimed at reducing medical liability claims. Gov. John Kitzhaber, a doctor, called their …

Rising Premiums Do Not Curtail Insurance Spending: Survey

More than a third of Americans spent more on insurance during the past year, according to a new survey. Some 37 percent of people responding to the survey spent more on insurance over the past year while only 7 percent …

Idaho Cities Pay Extra Into Pool Insurance Program

Nearly 40 Idaho cities are facing double-digit increases in health insurance premiums because a pool insurance program they joined earlier this year was hit with some unexpected early claims. Cities big and small joined the Idaho Independent Intergovernmental Authority program …

Best’s Report on Spanish Non-Life Sector Finds Profits, Future Challenges

“The Spanish non-life insurance sector remained profitable in 2011, but growth remains challenging, as it continues to face one of the bleakest economic environments since the 1930s,” according to a new report from A.M. Best Co. Best explained that non-life …

UK Competition Comm. to Investigate Auto Insurance; ABI Welcomes Move

The UK’s insurance market for auto insurance has been referred to the Competition Commission for investigation. The Office of Fair Trading (OFT), which made the referral, expressed concerns that the structure of the market resulted in excessive costs and that …

Insurers Face Tougher Times as Somali Piracy Drops

A dramatic fall in pirate attacks off the Somali coast is forcing down the cost of piracy insurance for commercial ships, taking the shine off a fast-growing and lucrative market for London-based insurers. International navies have cracked down on pirates, …

Swiss Re’s Chief Economist on the State of the Global Economy

“The European debt crisis is affecting the global economy, definitely,” said Kurt Karl, Swiss Re’s chief economist in an interview at the recent Reinsurance Rendezvous in Monte Carlo. He did indicate that it’s affecting the U.S. a bit less, as …

Reinsurance Rendezvous Focuses on Euro Zone, Interest Rates, Capital

For once there’s no natural catastrophe hanging over the annual Reinsurance Rendezvous in Monte Carlo (the 56th edition). Tropical storm Leslie missed Bermuda and Hurricane Michael is safely out in the Atlantic. But that doesn’t mean there are few concerns …