The number of medical malpractice claims filed and paid is declining in Missouri, yet physicians’ premiums are rising, according to a report from the state Insurance Department. New medical malpractice claims dropped 14 percent in 2003 to what the department …
Marsh & McLennan Companies Inc. (MMC) today revealed it would lay off about 3,000 employees to reduce annual expenses by $400 million. About three-quarters of the layoffs will occur in the insurance and risk management sectors, the company said in …
Backed by proponents of class action and tort reform, Republican Lloyd Karmeier handily defeated Democrat Gordon Maag with a 54 to 46 percent margin in a race for the Illinois Supreme Court, 5th District in the recent election. The Property …
Cincinnati-based American Financial Group Inc. announced the settlement of litigation over the allocation of environmental cleanup costs at a site that was part of the historical operations of a subsidiary’s railroad predecessor. The settlement resolves the largest of the subsidiary’s …
Citing dozens of fatal crashes linked to older tires with little wear and tear, a consumer safety group is asking the federal government to require “born-on” dates for car and truck tires. SRS Inc., a Massachusetts auto-safety research firm, sent …
Victims of the Sept. 11, 2001 terrorist attacks — both individuals killed or seriously injured and individuals and businesses impacted by the strikes — have received at least $38.1 billion in compensation, with insurance companies and the federal government providing …
A Wauchula, Fla. property insurance agent who served customers in Hardee, Polk and DeSoto counties is facing several felony charges stemming from allegations that he stole insurance premiums from homeowners and never secured property insurance coverage. Victims realized something was …
Platinum Underwriters Holdings, Ltd. became another casualty of the Florida hurricanes. The Bermuda-based insurer posted a net loss for the period of $69.8 million, or $1.62 per common share, as its GAAP combined ratio ballooned to 124.8 percent. The company …
Despite an estimated 550 million euros ($711 million) in hurricane related claims, Munich Re, the world’s largest reinsurer, seems to have weathered the storm(s). The company announced third quarter profits of 365 million euros ($472 million) and $1.5 billion euros …
Massachusetts Gov. Mitt Romney has taken another step forward in the effort to reform the state’s auto insurance market by signing into law a measure that stiffens penalties for those who engage in injury claims fraud and puts in place …