EMC Insurance Group Inc. (EMCI) restated its fourth-quarter and full-year 2002 earnings lower to reflect a $2.1 million reserve hike for direct asbestos exposures. The Des Moines, Iowa-based insurer now says it earned $5.2 million, or 45 cents a share, …
The Erie Insurance Group announced that it has received loss notification from approximately 6,600 policyholders as a result of severe ice, snow and flooding Feb. 14-18 and Feb. 21-23, 2003. The Pennsylvania-based company gave preliminary loss estimates of around $25 …
The Rhode Island House Corporations Committee recently heard several auto insurance-related bills that insurers oppose because they reportedly do little or nothing to improve the state’s insurance market. “If passed, these bills would actually worsen Rhode Island’s auto insurance market,” …
The Arkansas Senate last week amended and passed a House bill that would reform the state’s civil justice system. “We commend the Arkansas House and Senate for addressing this difficult topic in such a timely manner,” James Taylor, southeastern regional …
The Directors and Officers (D&O) liability market is reportedly at a historic critical point, and insurers, brokers and their clients must reportedly work together to restore it to health. Recent corporate scandals like WorldCom and Enron, escalating securities litigation and …
High medical malpractice rates were topic of a recent press conference held by the Texas Association of Obstetricians and Gynecologists (TAOG), at which the organization released the results of a survey of patients and physicians that found medical malpractice to …
Steven Imbriaco, government affairs counsel for the Professional Insurance Agents of Connecticut Inc., told the Insurance & Real Estate Committee of the Connecticut General Assembly during a public hearing on Tuesday that competition is essential when writing insurance for municipally …
On Jan. 17, 2003, Calif.’s Workers’ Compensation Insurance Rating Bureau’s (WCIRB) Governing Committee authorized the WCIRB to pursue the development of estimates of potential workers’ compensation terrorism losses for California. To complete the study, the WCIRB contracted with EQECAT, a …
Standard & Poor’s has assigned its ‘R’ financial strength rating to Washington Casualty Co. upon its placement into receivership by Thurston County Superior Court. “This rating action follows the company’s filing of an annual statement for 2002 that showed its …
Rodger Lawson, president of the Alliance of American Insurers (AAI), issued the following statement upon House passage Thursday of the “Help Efficient, Accessible, Low-Cost, Timely Healthcare (HEALTH) Act of 2003” (HR 5): “The Alliance of American Insurers is very encouraged …