Standard & Poor’s Ratings Services announced that, following a review, it has affirmed its ‘BBB-‘ long-term counterparty credit and insurer financial strength ratings on Italian marine insurer SIAT – Societa Italiana Assicurazioni e Riassicurazioni SpA (SIAT), and assigned them a …
The National Association of Independent Insurers (NAII) issued a bulletin indicating that the Massachusetts Senate Ways and Means Committee’s version of the state’s budget includes several provisions that will cause problems for property/casualty insurers. “Although the Senate version does not …
The National Association of Independent Insurers (NAII) reported that the special session of the Florida Legislature has ended with the passage of both personal injury protection (PIP) reform and workers’ compensation reform bills. “Although the PIP reform bill includes some …
Oklahoma Insurance Commissioner Carroll Fisher announced he revoked the license of a Bartlesville agent accused of lying clients to cover up the fact that he was unable to find coverage for them, as well as taking cash from his employer. …
The National Association of Independent Insurers has issued a bulletin commenting on its recent filing of an amicus brief, which opposes a New Jersey appeals court’s conclusion that wrongful death and survival actions are two separate and distinct causes of …
The Hawaii Insurance Division has levied a $150,000 fine against Terry T. Seguritan and revoked his insurance producer’s license for reportedly defrauding the public by collecting money and issuing identification cards for motor vehicle policies that did not exist, Hawaii …
The Wash. Department of Labor and Industries (L&I) has ordered an Arlington man to repay $27,814 after an investigation showed he reportedly collected workers’ compensation benefits illegally. The state agency ordered Stewart Hutchens, 28, to repay $18,542.70 in time-loss and …
The Texas insurance market may continue to experience serious affordability and availability issues if lawmakers cannot find an answer to the state’s insurance crisis that encourages competition and more choices for consumer, according to the National Association of Independent Insurers. …
California’s State Compensation Insurance Fund filed a lawsuit May 28 against the California Insurance Commissioner John Garamendi and the California Department of Insurance (CDI) requesting a court-ordered injunction that would prevent the CDI from exercising authority under Risk Based Capital …
In a series of interviews conducted by Advisen, Ltd. since preliminary results of the RIMS Benchmark Survey were released last month, industry professionals report that the survey accurately reflects their current market experience. The survey results, published by Risk and …