The Property Casualty Insurers Association of America (PCI) is expressing mixed emotions over the medical liability proposal likely to pass in the Illinois Legislature. SB 475, which focuses on several key aspects of the issue including caps on non-economic damages …
While Floridians mark the unofficial start of the summer season with Memorial Day weekend, funding continues to flow into the state for recovery from the four 2004 hurricanes. To date, Florida has received more than $5.2 billion in federal disaster …
The National Legal and Policy Center (NLPC) applauded this week’s passage of the asbestos trust fund legislation. Ken Boehm, chairman of the NLPC, released the following statement: “In approving the asbestos trust fund legislation, the Senate Judiciary Committee has taken …
The Louisiana House of Representatives killed a bill that would have allowed nursing home patients to sue for damages for certain violations of their rights, such as being a victim of mental and physical abuse. The measure by Rep. Clara …
The Texas Department of Insurance announced enforcement actions taken by Commissioner Jose Montemayor that became final during the month of April. The actions include eleven license revocations, a license denials and fines and restitution totaling $1,144,250. Copies of Montemayor’s orders …
Time has run out for workers’ compensation reform in the state’s legislature, according to Oklahoma Lt. Gov. Mary Fallin, who says a special session will be need to work on the issue. Fallin and Senate Republican leaders announced they were …
The Kentucky Office of Insurance is sponsoring town forums throughout the state in July. The sessions will include a three-hour continuing education class on ethics for insurance agents. In addition, consumers are invited to stop by the various locations to …
A state worker who was assigned to process Federal Emergency Management Agency claims, and who was indicted in Miami in 1998 for planning to steal nearly $48,000 in bogus hurricane claims, has been returned from Panama to the United States …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Hong Kong-based HSBC Insurance (Asia) Limited with a stable outlook. “The rating reflects HSBC Insurance’s prudent capitalization, strong distribution capabilities, superior operating performance and …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of the Nigerian-based African Reinsurance Corporation. The outlook on both ratings has been revised to negative from stable. …