There is no need for the Maine State Legislature to create a Fair Access to Insurance Requirements (FAIR) plan, according to the American Insurance Association. AIA testified before the legislature’s Joint Insurance and Financial Services Committee in opposition to a …
A new independent consumer survey conducted for the Independent Insurance Agents & Brokers of America (IIABA) confirms that non-renewals and premium increases are becoming more common in the current homeowners insurance market. The national survey determined that nearly 2.5 million …
Thousands of patients, physicians and other supporters of medical liability reform are gathering in Chicago’s Daley Plaza Tuesday to urge federal lawmakers to fix what they say is an out-of-control legal system that is seriously threatening patient access to quality …
Swiss Re, the world’s second largest reinsurer, held its 139th annual shareholders meeting yesterday, and, as expected, shareholders approved last year’s SwF 91 million ($69.3 million) net loss, and the reduction of its dividend payment to 1 Swiss Franc, about …
AXA, the Paris-based global financial and insurance group, reported slightly lower total revenues for the first quarter of 2003 of 20.431 billion Euros ($23.495 billion), down 3.3 percent in absolute terms compared to the 21.12 billion Euros ($24.288 billion) it …
As fraud investigators with the Florida Department of Financial Services continue to identify victims of a Miami auto insurance agent who collected premiums without securing coverage, Florida’s Chief Financial Officer Tom Gallagher is re-issuing a warning to consumers to verify …
The Navigators Group, Inc. reported net income increased 40 percent for the first three months of 2003 to $4,834,000 or $0.55 per share, compared to $3,450,000 or $0.40 per share reported for the same period in 2002. The combined loss …
Omaha, Neb.-based Berkshire Hathaway Inc. nearly doubled the profit of the first quarter of 2002, thanks to the hardened insurance market. Berkshire reported a net profit of $1.73 billion, or $1,127 a share, compared to $916 million, or $598 a …
The Republic Group of Insurance Companies (Republic), of Dallas, announced that a private investor group has agreed to purchase Republic from Winterthur U.S. Holdings Inc. and certain other subsidiaries of Credit Suisse Group (Winterthur) for $127 million in cash. Founded …
According to the Alliance of American Insurers, a bill introduced in the South Carolina Senate will put the state’s regulation of insurance light years ahead of any other and benefit homeowners by introducing more competition into the market. “The bill …