With the cost of federally subsidized flood insurance rising, officials want some northern New Jersey towns to restrict development in flood-prone areas. To reach this goal, the Federal Emergency Management Agency has developed model ordinances for the towns to adopt, …
Despite promising changes, Congress has shown little enthusiasm for taking the unpopular steps that experts say are necessary to fix the nation’s main flood insurance program. Recent flooding in the Midwest has brought the issue back to the forefront. Hurricanes …
Fitch Ratings indicated that that it expects insured losses from Hurricane Dean, “despite having been a Category 5 storm,” to be manageable for the insurance industry. The preliminary estimates range from a low of $750 million to a high of …
Hurricanes Katrina and Rita were a $100 billion blow to Louisiana buildings and infrastructure, and federal aid and insurance payments fall about $34 billion short of making up for the losses, a state agency says. The $100 billion estimate, in …
A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of CRC (Bermuda) Reinsurance Limited (CRC), a direct wholly-owned subsidiary of Canada’s Fairfax Financial Holdings …
Former New Mexico state insurance regulator Joe Ruiz has been indicted on federal corruption charges for allegedly misusing his office by soliciting payments from insurance companies in exchange for reducing regulatory fines. A federal grand jury on Friday indicted Joe …
A storm that brought hail the size of half dollars caused at least $19.4 million in damages in the Pueblo, Colo., area, based on claims made to one insurance company. May Hendershot of State Farm Insurance said almost 5,000 claims …
Exclusive Video Living, Breathing and Insuring Golf, Take 1: Golf in the Family Indiana insurance agent Ron Smith has been playing golf since he could “breathe.” His father loved the game. His brothers love the game. His entire family loves …
The Iowa Supreme Court on Friday threw out the arson conviction of a man alleged to have set fire to a car containing the body of a murdered Chicago man. Kevin Kawanzel Harris, 27, will get a new trial because …
The board that invests state money is delaying a bond issue meant to shore up Florida’s backup Hurricane Catastrophe Fund, waiting until financial markets stabilize before completing the bond sale. The state Board of Administration said last week it will …