Sophisticated catastrophe models are greatly aiding commercial insurance actuaries in establishing underwriting and pricing guidelines for terrorist attacks, according to industry experts at this week’s Casualty Actuarial Society’s (CAS) annual Seminar on Ratemaking in Atlanta. A panel session on “Actuarial …
California leads the nation in criminal insurance fraud convictions, according to a study by the Coalition Against Insurance Fraud. According to the study, the Golden State had more than one third of of all convictions generated by state insurance agenices …
A bill to require children under the age of 18 to wear crash helmets while operating or riding on an all-terrain vehicle on public land was approved by a Senate committee on April 3. The House-passed measure now goes to …
Ohio Attorney General Marc Dann has filed suit against paint manufacturers and chemical companies, including one in Illinois, that he alleges continued to make and sell lead paint knowing it presented health hazards. Dann sued 10 companies including Sherwin-Williams, DuPont …
An insurer that refused to pay for a teenage boy’s breast reduction on the grounds that it was cosmetic surgery must reimburse his father for the operation, an appeals court in New York has ruled. The Supreme Court’s Appellate Division …
The source of some outbreaks of illness could be found much more quickly if an Arkansas company’s new, fast method to test food for pathogens gains widespread use. The process developed by Little Rock-based Litmus LLC can find out within …
Louisiana’s insurer of last resort needs new management – and now, the consultant hired to clean up its accounting mess and at least one of its board members agree. “I’m going to move to make immediate management changes and to …
New York-based Integro Ltd. announced the formation of an international insurance and reinsurance business unit to be based in London. The group will offer global insurance and reinsurance business capabilities for independent brokers and partners, and will be able to …
A Pennsylvania lawmaker said a new survey backs up her push for legislation to cut down on distractions for younger drivers by limiting the number of passengers they may carry. State Rep. Kathy Watson, R-Bucks, told a news conference that …
Legislation that would allow homeowners to set up tax-free savings accounts for natural disasters would go a long way toward encouraging them to prepare for catastrophes, according to a national insurer group. A proposal introduced last week by Reps. Tom …