Toyota Motor Corp. said Monday it had found no evidence to support the driver’s account of a widely publicized “runaway” Prius incident in California that overshadowed the company’s attempts to restart sales after a punishing series of recalls. U.S. safety …
A federal appeals court said Monday insurer Lloyd’s of London must pay claims related to alleged swindler Allen Stanford’s defense. Stanford, his former chief investment officer Laura Holt, and former accounting executives Gilbert Lopez and Mark Kuhrt sued Lloyd’s after …
Hiscox Ltd. announced from its Bermuda headquarters that, from initial estimates, based on an insured market loss of US$8 billion for the Chilean earthquake, and US$3 billion for windstorm Xynthia, it estimates a combined net loss of approximately £100 million …
Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America, where they cost insurers over $12.7 billion. “The death …
The Georgia Supreme Court has upheld the state’s 2005 tort reform legislation that limits the liability of emergency room medical care providers. The 4-3 ruling turned aside complaints that the law is unconstitutional because it gives special liability exemption to …
Injuries in the trucking industry led to more than $480 million in workers’ compensation medical and indemnity payments, according to the California Workers’ Compensation Institute. The group, which released a new “Industry Scorecard” showing detailed data on accident year (AY) …
West Virginia lawmakers want to give police and the courts an easy way to verify whether a driver has required liability insurance. The House has approved a measure previously backed by the Senate to instruct the Division of Motor Vehicles …
Online crime complaints increased substantially once again last year, with the number of fraud complaints jumping 22.3 percent and total losses linked to online fraud reaching almost $560 million. That’s according to the Internet Crime Complaint Center, a partnership between …
The New Mexico Public Regulation Commission’s (Commission) Insurance Division has issued a warning to New Mexicans about companies that are offering health insurance products without proper authorization. The alert names nine companies – Real Benefits Association; Real Benefits Association Employee …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of General Insurance Corporation of India (GIC), both with stable outlooks. The ratings reflect GIC’s “strong capitalization, stable expense ratio and established …