The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net income, policyholders’ surplus — insurers’ net worth measured according to Statutory …
A federal judge has ruled that American Family Insurance has no obligation to cover John Jason McLaughlin in the wrongful death lawsuit filed against him by the parents of the two Rocori students he killed in 2003. Attorneys for the …
Fairfield, N.J.-based Cover-All Technologies Inc. said it’s extended the tenure of its top executive. The company, which makes software for the property casualty insurance industry, said it’s reached an agreement with CEO, President and Chairman John Roblin under which he …
A Worcester, Mass. teen whose hand was mangled by an escalator when he was a boy has been awarded $2.85 million dollars in damages. Thirteen-year-old Kevin Lou has had five surgeries on his right hand since the accident occurred while …
The family of a woman who was killed in the Big Dig tunnel collapse in Boston has agreed to a $6 million out-of-court settlement with the company that supplied the epoxy blamed for causing 26 tons of concrete ceiling panels …
Uninsured drivers would face $500 fines under a bill that Vermont lawmakers plan to consider in their upcoming session. State Sen. Richard Sears, D-Bennington, said he has heard many complaints from people who have been stuck with bills from accidents …
A.M. Best Co. has published a special report which examines the increasing use of “unauthorized reinsurance” in the U.S. P/C insurance industry. The report also indicates, however, that an “expensive infrastructure of collateral tracking, accounting and reporting surrounds the practice.” …
Brazil has become the latest jurisdiction to relax collateral requirements as countries begin to see the benefit of well-capitalized investment from foreign reinsurers, notes a bulletin on the Lloyd’s web site (www.lloyds.com) “The Conselho Nacional de Seguros Privados (CNSP) – …
Boston-based AIR Worldwide has issued a bulletin indicating that insured losses from a recent strong earthquake in New Zealand “are unlikely to exceed NZD 250 million” [$191.6 million]. The quake struck about 25 miles southwest of the coastal city of …
“Climate change is one of the foremost concerns of our time,” states a bulletin from Willis. “In a relatively short time, the focus has shifted from debate over the reality of global warming to a general consensus that it not …