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Washington News

Idaho Home Insurance Costs Lowest in Nation

Idaho homeowner insurance is the least costly in the nation, averaging $422 per year, according to a nationwide survey. This compares to an average $822 countrywide. The Gem State also had among the lowest average rates for renters insurance, at …

Private Crop Insurers Oppose Funding Cuts

The private crop insurance industry is blasting a proposed restructuring in the crop insurance program it says would cut $4 billion — or $800 million a year — over the next five years. The proposal by the U.S. Department of …

M&A Activity at Decade Lows

Leading into 2009, agencies were at a crossroads; uncertain of whether to sell, buy, or implement new or improved organic growth strategies. The path was uncertain, but it was widely believed that market, economic and political dynamics would impact and …

Business Moves

OneBeacon, Tower Group Massachusetts-based OneBeacon Insurance Group has agreed to sell its personal lines business to Tower Group Inc. in a deal that comprises two affiliate insurers and two reciprocal insurance exchanges in New York and New Jersey. The agreement …

Washington Regulator Wants Emergency Flood Insurance

Washington is one step closer to allowing the creation of a flood insurance joint underwriting association (JUA), a publicly sponsored, temporary, not-for-profit insurer of last resort to provide flood insurance when the coverage becomes unavailable on the open market. The …

Washington Proposal to Ban Insurers’ Use of Credit Scores Stalls

Washington insurers can continue to use credit scores when rating and underwriting insurance, at least for the time being. Washington Senate Bill 6252, which would have banned credit-based insurance scores, failed to come to a vote on the floor of …

Kyoto Climate Pact Risks Dying, as No New Agreement is in Sight

Efforts to extend the Kyoto climate pact framework risk collapse in a setback to years of diplomatic bargains, as chances fade that the United States will join other rich nations in capping emissions. December’s U.N. climate conference in Denmark failed …

Washington Flood JUA Legislation Passes in House

Washington House passed legislation allowing for the creation of a flood insurance joint underwriting association (JUA) as an insurer of last resort for businesses in the Green River Valley. House Bill 2560, which passed by a 66-30 vote, would allow …

Heavy Snows Plaguing Roofs in Western Pennsylvania County

Fire trucks and sheep are the latest things to be endangered by roofs sagging or collapsing beneath heavy snows in one western Pennsylvania county. The Amwell Township Volunteer Fire Department on Monday had to move $1 million worth of trucks …

Certain Safety Codes Didn’t Apply to Connecticut Plant

Three days before the deadly explosion at a Connecticut natural gas power plant, a federal agency that investigates chemical accidents recommended urgent changes to national safety standards for clearing gas from pipes. But even if those changes had been in …