Louisiana plans to fight attempts by Allstate Corp. to have a federal court determine if new laws giving homeowners two years to file lawsuits against their insurers is legal. Allstate filed a suit July 20 asking U.S. District Judge James …
Michael Baldwin, managing director of Allied World Assurance Company’s London branch, is retiring from the company effective Monday, July 31, 2006. Baldwin was one of four founding members of Allied World during its formation in 2001 and was primarily responsible …
Woman sues Bacardi after allegedly burned by flaming rum A woman who was allegedly severely burned by flaming rum during a Bacardi promotion is suing the spirits producer, claiming the product was defective and dangerous. Danielle Alleyne, of Miami, was …
As electricity began to flow for the last victims of a 10-day blackout, some New York residents and business owners lashed out at city and utility officials for damage inflicted by the outage. “This store went through the Depression, through …
Kentucky’s largest center for mentally retarded adults has been fined $1.4 million for not correcting health and safety violations, state officials announced. The state inspector general’s office under the Cabinet for Health and Family Services issued the fines against the …
Testifying before a Senate Homeland Security and Government Affairs Subcommittee, Karl Brondell of State Farm Insurance Companies warned that the U.S. is not adequately prepared for a cyber catastrophe. The insurance executive outlined what a recent Business Roundtable report identified …
At a rate of about three a day, state Commerce Department regulators have been posting enforcement actions against insurance agencies and companies, real estate agents, mortgage originators, security brokers and others. But that information doesn’t always get into the hands …
Reinsurance collateral, natural disaster plans, brokerage compensation disclosure, credit scoring, competition for insurance jobs—state insurance regulators across the country deal with these and many other issues. Insurance Journal reveals how they are handling the issues in a series of exclusive …
New York Gov. George Pataki has signed into law a bill that would cut in half agents’ wait time for commercial policy loss runs. The new law reduces the maximum time companies are given to supply loss runs upon request …
The House Financial Services Committee has approved legislation that would apply single-state regulation and uniform standards to the nonadmitted insurance and reinsurance marketplace. Chairman Michael G. Oxley (Ohio) convened a full committee markup yesterday at which H.R. 5637, the Nonadmitted …