Rhode Island officials have decreased the premium assessment that insurers must charge to cover the costs of administering the state’s workers compensation system. Effective July 15, 2004, the Workers’ Compensation Administrative Fund reduced its annual assessment on the premiums insurers …
The Independent Insurance Agents of San Antonio announced that the Myron F. Steves Insurance Professional Scholarship Program is now available to the association’s members. In its pledge to “Excellence through Education” the annual Steves Scholarship provides tuition for the full …
The U.S. Bankruptcy Court for the Southern District of New York has issued an order granting approval of a $500 million settlement of almost all Johns Manville Corp. asbestos-related suits pending against the Travelers property casualty subsidiaries of St Paul …
The Texas Workers’ Compensation Commission announced that its web site at www.twcc.state.tx.us has a new look. It has been redesigned in an effort to make it easier for participants in the Texas workers’ compensation system to find information that applies …
Norwich Union, the U.K.’s largest P/C insurer, announced plans to begin testing a pilot scheme called “Pay As You Drive”(TM) insurance, which it says could revolutionize the way auto coverage is provided. “Hundreds of motorists are now road-testing revolutionary technology …
ACE Europe, a division of Bermuda’s ACE Limited, announced the launch of a system, described as “the insurance industry’s first web based tool to enable oil and gas companies to gather more accurate and timely risk data for offshore employees.” …
West Virginia Gov. Bob Wise has extended the State of Emergency for 10 counties and added Fayette and Lincoln counties to the proclamation. “Several areas of our state suffered substantial damage to private and public property because of severe rains …
Chicago-based property/casualty insurer Unitrin Inc. has reported second-quarter net income of $62.4 million (91 cents per common share), 57 percent higher than the $22.7 million (34 cents per common share) in profit the carrier saw in the second quarter of …
Fitch Ratings commented that it does not expect the long-term and senior debt ratings of Florida-based Citizens Property Insurance Corporation (Citizens) to be affected by the losses from Hurricane Charley, as preliminary loss estimates are within expectations for the ratings. …
With an expected insured loss of $6-10 billion, Hurricane Charley’s assault on Florida will likely rank as the second costliest in U.S. hurricane history. While devastating both in terms of damage and lives lost, things could actually have been much …