Rising costs for reinsurance and medical stop-loss coverage may reportedly put medical groups at financial risk, as the organizations trim coverage to reduce policy costs. Last year, reinsurance premiums rose 15 – 25 percent and they are expected to increase …
Chicago-based CCC Information Services Group Inc. announced that McCloud Claims Service, Inc. has selected its CCC Pathways® Independent Appraisal Solution, an automated estimating solution specifically designed for independent appraisers (IAs), for use in its nine office locations. CCC is a …
AIG Private Client Group, a division of the property and casualty subsidiaries of American International Group, Inc. (AIG), has introduced Excess Flood Coverage* to support insureds in the event of catastrophic loss caused by flood. Aimed at homes with a …
A bill restricting insurers’ use of credit information for personal lines underwriting and rating passed the Senate Aug. 20 and heads to the Oregon Governor Ted Kulongoski’s desk for his consideration. “Senate Bill 260 attempts to balance consumers protections with …
Mayfield Village, Ohio-based vehicle insurer Progressive group of insurance companies’ significant investment in technology, systems and processes that provide back up and redundancy paid off last week as the largest power outage in U.S. history hit the group’s Cleveland-based headquarters. …
Oakland- based EQECAT Inc., a division of ABSG Consulting of Houston, Texas, announced that it has provided the risk analysis for a $470 million bond consisting of three individual tranches covering potential losses from second event occurrences of major earthquakes …
Bermuda-based Trenwick Group Ltd. announced that it has filed for protection under chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court of Delaware. The filing also includes its affiliates LaSalle Re Holdings Limited and Trenwick …
Travelers Bond, a division of Travelers Property Casualty Corp., has extended its fiduciary liability policies to provide a sublimit of coverage for civil fines and penalties assessed under the Health Insurance Portability and Accountability Act (HIPAA). In response to HIPAA, …
Last week’s blackout that halted power throughout the Midwest, the northeastern U.S., and parts of Canada reportedly might only have a minimal impact on U.S. insurance companies, depending on the official cause of the power outages, according to Standard & …
The cost of household water damage in South Carolina continues to grow at an alarming rate, according to the South Carolina Insurance News Service (SCINS). The group said that in 2002 water claims cost the insurance industry over $36 million …