The Alliance of American Insurers (AAI) has issued a bulletin noting that Virginia Governor Mark Warner has signed into law the nation’s first piece of legislation aimed at changing the Standard Fire Policy Act related to commercial insurance policies. The …
A Miami agent charged with failing to return a refund to a customer and with writing worthless checks has lost his license to sell insurance, according to the Florida Department of Financial Services. The department revoked the insurance and adjuster …
Standard & Poor’s has affirmed its ‘A’ insurer financial strength and counterparty credit ratings on Australia-based ACE Insurance Ltd. and removed them from CreditWatch with negative implications, as a result of similar action taken on parent ACE Ltd. The outlook …
Washington taxpayers and the State Fund will get significant financial relief from the federal government in the event of an act of terrorism that results in catastrophic losses to the workers’ compensation system. The law requires that workers’ comp coverage …
Acting Louisiana Commissioner of Insurance Robert Wooley announced that the Louisiana Department of Insurance has accepted an invitation to join the NeighborWorks National Insurance Task Force (NITF). Wooley appointed Richard Chambers, the Department’s Deputy Commissioner of Minority Affairs, as his …
InsWeb Corp., a producer of automobile insurance in the U.S., announced that a settlement has been reached in its litigation with eHealthInsurance.com. The litigation stemmed from eHealthInsurance’s decision in February 2001 to reportedly terminate an agreement concerning the marketing of …
In a flurry of recent cases, Texas courts have tried to clarify various issues regarding election of remedies in the context of workers’ compensation insurance. These issues arise in various circumstances. Two scenarios form the basis for the recent opinions: …
Munich Re has issued a new survey report – “topics Natural Catastrophes 2002.” The study found that “storms and floods have an even greater impact on insurers’ claims burdens than in the year before,” and examines “how can the effects …
The number of insolvencies among property/casualty companies remained high in 2002, with 38 companies placed either under regulatory supervision or into liquidation, according to the special report, “Rising Number of P/C Company Impairments Continues Trend,” issued recently by A.M. Best …
State lawmakers around the country have been busy introducing a variety of bills aimed at the issue of mold, how it is addressed by society, and how it is covered by insurers’. “We are currently tracking nearly 30 bills under …