The U.S. population residing in hurricane-prone states continues to rise, a trend which is likely to impact adversely the nation’s coastal property insurance market for years to come, according to testimony by Dr. Robert Hartwig, president and chief economist for …
The idea of a federal catastrophe program has been getting mixed reaction in Washington. The Bush Administration and key Republicans including Sen. Richard Shelby, R-Ala., have outright opposed the idea, which has among its supporters the Republican governor of Florida, …
Apartments, Habitational, Condominiums Nuts & Bolts: A program manager on behalf of United National Insurance Group is offering packages and mono-line General Liability coverage for apartments, habitational, condominiums. Deductible is $5,000. Minimum premium, $15,000; maximum, $1 million. Minimum premium general …
The South Carolina Senate has passed workers’ compensation reform legislation but many observers are not impressed and hope the House will do a better job. The bill, S. 332, is now in the House. Backers hope it will help employers …
The private insurance marketplace, not the federal government, is the best vehicle to address coastal insurance issues and natural disasters in the U.S., according to insurers. Even so, the federal government can play a role in efforts to reduce affordability …
Direct marketer AIG Auto Insurance announced it will pilot a Teen GPS Program for policyholders with teen drivers. The program uses Global Positioning System, or GPS, technology to allow parents of teen drivers to monitor the location of the teen’s …
The nation’s bank holding companies (BHCs) experienced a slight decline of 1.3 percent in their total insurance revenue from $44.1 billion in 2005 to $43.5 billion in 2006. Citigroup, Inc. (N.Y.), Wells Fargo & Company (Calif.), Countrywide Financial (Calif.), HSBC …
The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and form regulation, and consumer protection. More recently, however, the state itself is …
A state-run insurance program has been expanded slightly to provide relief for some South Carolina coastal homeowners grappling with skyrocketing premiums, and Gov. Mark Sanford and other lawmakers promised a tax-incentive plan to help, too. The state-run program, known as …
Commercial Auto Nuts & Bolts: Texas Specialty Risk Programs is offering coverage on commercial auto fleets, 1-20 power units. Lowest pricing available. Same day quotes if requested. No loss info required. Submission only requires accord application and business accord auto …
