The Oregon Department of Consumer & Business Services (DCBS) held a fact-finding hearing Friday, April 16 in Salem to gather information on whether to create a market assistance plan (MAP) for construction contractors who are having trouble getting liability insurance. …
A New Mexico Supreme Court ruling recently to allow third party bad faith suits against insurers in auto liability cases will likely result in higher costs for policyholders, the American Insurance Association (AIA) said. “This case takes New Mexico way …
California Governor Arnold Schwarzenegger on Friday released the following statement upon passage of workers’ compensation reform legislation (SB899, Poochigian): “Today we have another victory for California. I promised in my campaign that we would reform our state’s broken workers’ compensation …
ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has introduced Kidnap & Ransom coverage for companies that have international operations, as well as those that have employees who travel overseas. The new coverage provides companies …
Oklahoma Insurance Commissioner Carroll Fisher issued the following notice to producers, which he categorized as “urgent,” regarding storage of documents: “Recently, we learned that some agencies have begun saving documents in electronic format only, or forwarding them to their companies …
Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on Atlantic Mutual Insurance Co., Centennial Insurance Co., and Atlantic Lloyds Insurance Co. of Texas (collectively referred to as Atlantic Mutual) to ‘BB+’ from ‘BBB’. Standard …
Pennsylvania-based Donegal Group Inc. reported net income for the quarter ended March 31, 2004 of $11,732,306, or $.87 per share on a diluted basis, which includes an extraordinary gain of $5,445,670, or $.40 per share on a diluted basis, related …
A report from the Straits Times in Singapore notes that Malaysia’s INCOME has launched a new insurance coverage plan for Sars, birdflu, and a type of soil disease called melioidosis. The report indicated that INCOME claims to be the first …
New York Superintendent of Insurance Gregory V. Serio, New York City Police Commissioner Raymond W. Kelly, Queens District Attorney Richard A. Brown, State Taxation and Finance Department Commissioner Andrew S. Eristoff and State Banking Department Superintendent Diana Taylor announced the …
A federal jury is expected to begin deliberations today in the case involving Swiss Re and 12 other insurers over the amount of recovery due to Silverstein Properties as compensation for the destruction of the World Trade Center. The central …