U.S. property/casualty insurers are expected to pay policyholders an estimated $1.46 billion for insured property-loss claims from five catastrophes in the first quarter — the fifth-highest first quarter in losses since 1994 — according to preliminary estimates by Insurance Services …
Teresa Orr, of Monteverde, Fla., traveled to Tallahassee Monday to hear the news firsthand that the operators of an unlicensed health insurance plan that left her and her late husband with more than $250,000 in unpaid claims are facing felony …
The Florida House’s Committee on State Administration on Monday provided a key boost for major workers’ compensation reform by approving a committee substitute containing key priorities of the American Insurance Association (AIA) and other insurance and business interests. This proposal …
Ohio Department of Insurance Director Ann Womer Benjamin ordered First Actual American Insurance Company (FAAIC) to cease and desist its illegal operation in the state of Ohio. The order alleges that the Canby, Oregon-based insurer offered medical malpractice insurance to …
Trenwick Group Ltd. will cease underwriting reinsurance business under its previously announced underwriting facility with Chubb Re, Inc., a subsidiary of The Chubb Corporation. The underwriting facility, which began in November 2002, permits Trenwick to write up to $400 million …
The International Association of Marine Investigators (IAMA) recently elected its slate of officers and directors for 2003 at their Annual Training Conference in Panama City, Fla. Pat Rowland, of the Jackson County, (Ore.) sheriff’s office will serve as president; Karlton …
Standard & Poor’s reports that a recent outbreak of a pneumonia-like illness known as Severe Acute Respiratory Syndrome (SARS) in greater China and southeast Asia is unlikely to have any immediate impact on its ratings on insurance companies and banks …
South Carolina-based The Seibels Bruce Group, Inc. announced a stock tender program allowing shareholders owning fewer than 100 shares of Seibels Bruce stock to sell their shares to the company. The voluntary program gives eligible shareholders the opportunity to sell …
Oklahoma Commissioner Carroll Fisher approved an application by State Farm Insurance to use emergency adjusters to expedite claims settlements following weekend storms earlier this month that caused wind and hail damage across Oklahoma. State Farm alone estimates its auto and …
Washington’s Office of the Insurance Commissioner (OIC) reached a $500,000 enforcement agreement recently with Insurance Company of North America (INA) of Pennsylvania for reportedly issuing over 140,000 unapproved certificates for travel insurance and other related insurance products in Washington. The …