New Jersey’s Department of Banking and Insurance filed papers in Superior Court last Thursday to protect policyholders and consumers by seeking a liquidation order that would shut down a reportedly financially troubled auto insurance company. The liquidation will allow the …
Insurance Journal has discovered that there is an ongoing investigation into Torrance, Calif.-based Manning Riddell Insurance Services Inc. (License #0827722) in connection with the issuance of more than 1,000 phony Errors & Omissions policies for life insurance agents in some …
Iowa-based EMC Insurance Group Inc. announced that Farm and City Insurance Company, a wholly-owned subsidiary, will discontinue writing nonstandard risk automobile insurance business and institute non-renewal procedures on all existing business. The effective dates for these actions will be determined …
AXA Art Insurance Ltd, a division of France’s AXA Group based in London, has offered a reward of up to C$150,000 (U.S.$116,000) for information leading to the recovery of the five signed ivory sculptures stolen from the Art Gallery of …
The Texas Fair Access to Insurance Requirements (FAIR) Plan Association requested that the Texas Department of Insurance allow the Plan to increase homeowners insurance rates by an average of 12 percent statewide in order to cover future losses. The association …
The Louisiana Insurance Rating Commission approved a reduction in auto rates for two members of the United Services Auto Association group of companies. According to Associated Press reports, the two companies, United Services Auto Association and USAA Casualty Insurance Company—which …
Workers’ compensation costs per claim in Texas increased at double-digit rates for the third consecutive year, according to a new study by the Workers Compensation Research Institute. Workers’ compensation costs per claim remain among the highest of the states in …
United National Group, Ltd. announced that its subsidiary, Diamond State Insurance Company, has entered into a settlement with Bank of America, N.A. and Platinum Indemnity Limited relative to litigation pending in the United States District Court for the Southern District …
Standard & Poor’s Ratings Services placed its ‘BBB’ counterparty credit and financial strength ratings on Professionals Direct Insurance Co. (PDIC) on CreditWatch with negative implications. The ratings were placed on CreditWatch because of Standard & Poor’s concerns about the rapid …
The New Jersey Supreme Court issued a unanimous decision Thursday supporting the insurance industry’s views that wrongful death and survival actions do not trigger separate “per person” coverage claims under an automobile liability insurance policy. State Supreme Court justices reversed …