The ratings outlook for the global reinsurance market remains negative, despite an expectation that the market’s 2003 reported financial year-end results will return it to overall underwriting profitability for the first time in eight years, according to a new report …
The American Insurance Association (AIA) has commended the Iowa General Assembly for enacting a cap on non-economic damage awards in medical malpractice cases as the state grapples with ways to stabilize its medical liability insurance market and address the growing …
An electrical fire that began in a storage room caused moderate damage to an administrative building at Kilby Prison outside of Montgomery, Alabama this week. No one was injured. The Alabama State Fire Marshals Office investigated the incident and determined …
Florida’s Chief Financial Officer and Miami-Dade’s top prosecutor are teaming up to combat auto insurance fraud, which reportedly costs Florida families as much as $250 annually. CFO Tom Gallagher, who oversees the Department of Financial Services, and Miami-Dade State Attorney …
Thomas DiBiagio, United States Attorney for the District of Maryland, announced that a federal grand jury has returned an indictment charging Ozzie Clay, 61, of Silver Spring, Md., with mail fraud, wire fraud, bankruptcy fraud, money laundering and arson offenses …
A New Jersey Appeals Court has ruled that a waiver signed by participants in high risk sports activities does not prevent relatives from pursuing a wrongful death suit when the sports enthusiast is killed. It is common for instructional facilities …
The Colorado General Assembly this week sent Governor Bill Owens (R) legislation making commercial agreements more predictable by clarifying what damages can be awarded in breach of contract disputes, according to the American Insurance Association (AIA). “By passing this legislation, …
Accidents in highway construction zones kill more than 1,000 people each year, and most of them are drivers, according to Federal Highway Administrator Mary Peters. “We’re asking drivers to remember that for thousands of men and women, their workplace is …
The Oklahoma State Senate approved House Bill 2661 and sent the measure to a House-Senate Conference Committee. According to the Senate Communications Divisions, 23 members of a special House-Senate committee on tort reform will begin hearing testimony on the bill …
An Illinois appeals court has rejected a plaintiff’s claim that its auto insurer breached its contract by refusing to pay for diminished value in an auto repair case. “Although the appeals court decision doesn’t throw out the concept of diminished …