Risk Management Solutions estimates that the damage wreaked by Hurricane Ike in the popular Turks & Caicos Islands and Bahamas at between $50 million and $200 million. RMS said the majority of the losses were due to “wind and storm …
A report from Standard & Poor’s Ratings Services notes that the “natural catastrophe (nat-cat) bond market has come a long way since S&P rated its first true nat-cat bond a decade ago.” “As the market has become more sophisticated and …
The Supreme Court of Alaska has ruled that a law office is not liable for ordinary negligence and strict products liability when an overweight person is injured by an office chair that collapsed. According to Charles Burnett v. Kenneth Covell, …
The Nevada Department of Business & Industry named Betty C. Baker acting commissioner of the Division of Insurance. Baker will oversee the Division while a replacement is sought for Alice Molasky-Arman, who recently retired as Insurance Commissioner after 27 years …
A West Liberty, Kentucky man pleaded guilty in Morgan Circuit Court to one felony count of insurance fraud after giving false information to his workers’ compensation insurance carrier. Sidney L. Allen, 45, paid $109,985 in court-ordered restitution to Kentucky Employers’ …
Workers’ compensation insurance rates will be dropping in North Carolina next year, for the first time in five years. The News & Observer of Raleigh reported Sept. 10 the North Carolina Rate Bureau has requested an average drop of 4.4 …
West Virginia will begin studying ways to recover economically from natural disasters, particularly in parts of the state perpetually hit hard by flooding. The federal Economic Development Administration announced Sept. 8 in Bridgeport that the state is getting $250,000 to …
The Maryland Court of Appeals has ruled that drug manufacturer Eli Lilly was not liable for a fatal accident caused by a user of one of its diabetes drugs who blacked out while driving and crashed into another vehicle. Ellen …
On Sept. 10, it looked like Hurricane Ike was going to make landfall along the middle Texas coast, with Corpus Christi being the largest city with the most to lose from the storm, which is expected to make landfall sometime …
Insurance executives expect sub-prime and other credit issues to continue to have a significantly negative impact on the industry’s financial performance in 2009, and they see credit and pricing risks as posing the most significant challenges over the next three …