South Carolina News

Inside the Disaster Blaster

Industry’s $40M Research Center May Someday Lead to Lower Catastrophe Claim For those who question the intelligence of insurance companies, here’s a new industry development that should answer those questions once and for all: The insurance industry is ecstatic because …

Inside the Disaster Blaster

Industry’s $40M Research Center May Someday Lead to Lower Catastrophe Claim For those who question the intelligence of insurance companies, here’s a new industry development that should answer those questions once and for all: The insurance industry is ecstatic because …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. A-Side Directors & Officers Market Detail: Great American Insurance Group’s Executive Liability Division offers A-Side …

American Strategic Enters Homeowners Market in 3 States

American Strategic Insurance Corp. (ASI) has entered Virginia, Delaware and Georgia residential property markets. The company offers policies for homeowners, renters, condominium owners, seasonal residents and investment property owners through independent agencies. The company also offers flood coverage. ASI, a …

Ratings Roundup: China Taiping (NZ), BEST RE (Malaysia)

A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of China Taiping Insurance (New Zealand) Company Limited (CTPNZ), both with stable outlooks. The ratings reflect CTPNZ’s “adequate risk-adjusted capitalization, notable improvement …

Audit: South Carolina Workers’ Comp Board Delayed Money Deposits

The state’s Workers’ Compensation Commission broke state law by not depositing fines as it worried legislators would use the money for something else, according to a state audit. The commission collected but delayed for weeks depositing $244,000, the Legislative Audit …

Mississippi Court Rejects Bad Faith Part of Katrina Damages Award

The Mississippi Supreme Court has upheld a breach-of-contract verdict in a dispute between an insurance company and a retired Navy admiral over coverage of damages from Hurricane Katrina. However, the high court said Admiral James W. Lisanby and his wife, …

Health Insurers Win Some Breaks with Medical Loss Ratio Rule

New U.S. health insurance spending rules aimed at ensuring more customer dollars go toward medical care were finalized on Monday, ending a source of uncertainty for investors in the sector. Although the limits are mandated in the new healthcare law, …

Inside The Disaster Blaster

For those who question the intelligence of insurance companies, here’s a new industry development that should answer those questions once and for all: The insurance industry is ecstatic because it just dropped $40 million on a three-bedroom house that fell …

Halter to Head New Southeast Region for Patriot National

Paul Halter has joined workers’ compensation specialist Patriot National Insurance Group as regional vice president of the newly created Southeast region. In his new role, Halter will establish a Patriot National regional office in Charlotte, N.C. and will take responsibility …