Despite calls to cancel, Gov. Kathleen Blanco issued her formal plan Dec. 2 to bring lawmakers back to the Capitol for a special legislative session to spend as much as $2 billion in new state dollars on pay raises, tax …
Anger over new fees meant to help recovery from last year’s hurricane claims is no reason to tinker with 2003 state laws creating Louisiana’s state-run insurance company, the company’s chairman said Oct. 30. The Louisiana Citizens Property Insurance Company, a …
Louisiana Gov. Kathleen Blanco said Sept. 12 that she’ll consider a partial state bailout for Louisiana’s insurer of last resort, which borrowed $1 billion to pay off claims after hurricanes Katrina and Rita. Several lawmakers and state officials have been …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s Hannover Rueckversicherung AG (Hannover Re) and its rated subsidiaries [See also related articles]. Best also affirmed the …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of Swiss-based Glacier Reinsurance AG. Best also removed the ratings from under review with negative implications, but assigned them a …
More than 95 percent of the 2.7 million hurricane claims filed as a result of the last two years’ storms have been settled, according to Florida’s Chief Financial Officer Tom Gallagher, in an update on the progress of the Department …
Windstorm insurance companies would have to cover water damage caused by hurricanes under a proposal Democratic gubernatorial candidate Jim Davis released June 9, part of a multi-pronged proposal to solve the problems facing hurricane insurance customers in Florida. Among the …
Independent insurance agents who are upset that conditions are being placed on their compensation have an important ally in Bob Rusbuldt, chief executive officer of Independent Insurance Agents and Broker of America, and the “go-to guy” on American Agency System …
A Leon County, Fla. circuit judge has approved putting three financially-troubled insurance companies under the state’s control, a move Florida’s Chief Financial Officer Tom Gallagher said will protect more than 320,000 Floridians this hurricane season. The insurance companies, Atlantic Preferred, …
Residents of the Northeast coast “ignore the hurricane threat at their peril,” a leading insurer is warning. At the same time, Wendy Baker, president of Lloyd’s America, says she is confident that the global insurance market is equipped to respond …