A judge slashed $3 million from the damages a suburban Chicago newspaper must pay the chief justice of the Illinois Supreme Court in a defamation case. In November, a jury ordered the Kane County Chronicle and a former columnist to …
Insurers have expressed support for a limited expansion of South Carolina’s wind insurance pool, as long as the state entity remains a market of last resort and does not offer rates that are competitive with private insurers. The S.C. Senate …
A New Jersey appeals court recently ruled that while an insurer is freed from providing liability coverage when an insured commits sexual assault on a young child, the insurer could have an obligation when the insured attacker is a minor. …
Pet owners are not likely to get much compensation if they individually sue pet food-maker Menu Foods over the death of a dog or cat, although they might fare better if they joined forces in a class action suit, legal …
A Delaware jury has awarded $41 million to a Navy officer who said a Roman Catholic priest sexually abused him hundreds of times as a teen. Jurors awarded Cmdr. Kenneth Whitwell $6 million in compensatory damages and $35 million in …
The three major rating agencies, Standard & Poor’s, A.M. Best and Fitch Ratings, have all assigned “A” ratings (Fitch was actually ‘A+’) to Lloyd’s Reinsurance Co. (China) Ltd. (LRCCL), the Lloyd’s-backed underwriting subsidiary which was recently approved by Chinese regulatory …
Standard & Poor’s Ratings Services has revised to positive its outlook on Morocco-based reinsurer Société Centrale de Réassurance (SCR), following the revision to positive of the outlook on the local currency ratings on the Kingdom of Morocco (BBB/Positive/A-3). At the …
Willis Group Holdings has released its reinsurance review of the marketplace for the April 1, 2007 renewal entitled “Few Surprises.” The report reaches the same conclusions as those contained in Aon Global Re’s study (See IJ web site April 2). …
Florida insurers are hammering a Florida Office of Insurance Regulation report on the use of occupation and education for rating of auto insurance policies, calling the report’s claims that the use of these factors unfairly affects lower income and minority …
Results of a report on the factoring of occupation and education for underwriting and rating of auto insurance policies show that while the practices “unintentionally harm minorities and low-income individuals” in determining premiums and eligibility, they are nonetheless legal. “Let …