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Rigsbys Allowed To Testify Against State Farm

A federal judge ruled Monday that whistleblowers Cori and Kerri Rigsby can testify in the lawsuit the sisters brought against State Farm alleging the insurer defrauded the government through claims filed after Hurricane Katrina. U.S. Distric...

Insurer AIG Shares Extend Gains After 2Q Profit

CHARLOTTE, N.C._Shares of American International Group Inc. extended their gains Monday, after the insurer said it was profitable in the second quarter. Shares rose $2.14, or 7.9 percent, to $29.28 in afternoon trading. AIG said Friday it e...

New Jersey PIP Schedule Can Be Implemented After Appellate Ruling

After more than two years in waiting, a personal injury protection medical fee schedule is cleared for use with a recent ruling by the New Jersey Superior Court, Appellate Division. This long-awaited ruling will enable New Jersey to move fo...

North Carolina Beach Plan Bill Moves Closer to Governor's Desk

Reforms to the state-run North Carolina Beach Plan -- which includes a $1 billion cap on assessments to the state's insurers -- was passed by the Senate Commerce Committee as well as the full Senate and now heads to the House for final pass...

AIG Dropping Conference Call After Releasing Second-Quarter Earnings

American International Group Inc. will not hold a conference call with analysts to discuss the second-quarter earnings it is scheduled to release before the markets open on Aug. 7. AIG spokeswoman Christina Pretto said the company would not...

Insurance Law Podcast Discusses Negligent Security Issues Related to Terrorist Attacks in Shopping Centers

OLDWICK, N.J.--(Business Wire)-- A.M. Best Co. has released the latest installment of the Insurance Law Podcast, a series that examines timely insurance issues from an attorney`s point of view. The latest episode features attorneys Jack Luks...

Analysts: Benmosche Has the Right Experience for AIG Job

Robert H. Benmosche has the right experience and skills to take on the difficult role of leading American International Group Inc. as it seeks to restructure its businesses and restore financial stability, analysts said. I believe it's a pl...

Marsh & McLennan Posts Loss On Impairment Charge

NEW YORK_Marsh McLennan Cos. said Wednesday it recorded a loss in the second quarter because of an impairment charge tied to the value of one of its divisions. Excluding the special charge, Marsh McLennan was able to turn a profit that narro...

Swiss Re Posts Quarterly Loss Of $359 Million

Swiss Reinsurance Co. reported Wednesday a surprising second-quarter net loss of 381 million francs ($359 million) as investment losses and impairments offset an improved business environment. The loss compared with a profit of 564 million...

A.M. Best Special Report: Captives Buck Investment Losses With Strong Underwriting Results

OLDWICK, N.J.--(BUSINESS WIRE)-- U.S. captive insurers' net income declined approximately 66% in 2008 for a composite of 186 captive companies represented in this A.M. Best Co. special report. This reflects realized losses of $1.2 billion fo...

GEICO Says: Parents Are the Key to Safe Teen Drivers

WASHINGTON--(BUSINESS WIRE)-- These days, teenagers have a lot to contend with: school, grades, their peers, and also all the inherent risks of being a new driver. According to a new study by the Insurance Institute for Highway Safety (IIHS)...

Mack-Cali Realty Corporation Announces Second Quarter Results

EDISON, N.J.--(BUSINESS WIRE)-- Mack-Cali Realty Corporation (NYSE: CLI) today reported its results for the second quarter 2009. Recent highlights include: Reported funds from operations of $0.87 per diluted share; Reported net income of $0....

Mack-Cali Realty Corporation Announces Second Quarter Results

Nationwide Insurance Supports National Ban on Texting While Driving (TWD)

COLUMBUS, Ohio--(BUSINESS WIRE)-- Nationwide Mutual Insurance Company today stated its support for the enactment of a national ban on texting while driving. In Washington D.C., United States Senators Chuck Schumer, D-New York; Robert Menende...

Insurance Company Fights Murder Liability

The owner of the property where Jack Reid was murdered faces a $5 million wrongful death lawsuit from Reid's family -- and now his insurance company is going to court to make sure it doesn't foot the bill. Michael Connors owned the Deerfield...

MO Insurers Say 20,000 Vehicles Stolen In 2008

JEFFERSON CITY, Mo._An insurance industry group says American cars remain the top picks among Missouri thieves. The Missouri Insurance Information Service says more than 20,000 vehicle thefts were reported in the state last year, nearly half...

Homeowners' Premiums May Rise If State Farm Cuts Discounts

Some State Farm Florida Insurance policyholders could be paying as much as 45 percent more for their homeowners or condo insurance if the company is allowed to reduce or eliminate a variety of discounts it now offers. One of the biggest cred...

Marsh's Smaller-Market Initiative Opts for Aggressive Acquisition Strategy

Marsh McLennan Agency has refocused its opening strategy to concentrate on a start-with-acquisitions plan to make giant broker Marsh McLennan Cos. a major player in the small commercial market. What has changed is the launch point, said Dav...

In Selecting A Broker, Size Doesn’t Matter

Does size truly matter when it comes to choosing an insurance brokerage? This question has been debated for years, and the answer would seem to be, ``No.'' That is evident in the fact that sometimes very large, complex organizations use smal...

Acxiom Study Reveals Who’s Cutting Corners and Who’s Not When Shopping for Auto Insurance

LITTLE ROCK, Ark.--(BUSINESS WIRE)-- Auto insurers confounded by shifting purchase patterns can better understand the mindset of consumers - and adjust marketing plans accordingly - with today's release of the first Insurance Consumer Dynami...

Navigators Expands Professional Liability Division by Partnering with Aon Affinity

NEW YORK--(BUSINESS WIRE)-- The Navigators Group, Inc. (NASDAQ:NAVG) today announced that its principal underwriting agency subsidiary, Navigators Management Company, Inc., is continuing to expand its Nav Pro Professional Liability Division...

AIG Closes on Sale of Mexican Consumer Finance Business

American International Group Inc. has completed its sale of its consumer finance operations in Mexico, the company said. Terms of the transaction were not disclosed. AIG Universal, S.A. de C.V., SOFOM E.N.R., and Markcenter Services, S. de...

State Farm To Raise Home Insurance Rates

The largest insurer of homes in the state of Texas has announced it will increase coverage rates starting as soon as Sept. 1. According to a press release, State Farm Lloyds submitted a rate filing to the Texas Department of Insurance on Wed...

As the Number of Uninsured Drivers Increases, Companies Recommend Looking for Cheap Car Insurance Rates Rather than Dropping Coverage

As the unemployment rate goes up, so does the number of uninsured motorists. CheapCarInsurance.org recommends that drivers look for cheaper car insurance premiums rather than dropping coverage all together. Cheap car insurance rates are acc...

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SAN DIEGO--(BUSINESS WIRE)--Golden Eagle Insurance, a Liberty Mutual Agency Markets regional company, is offering California commercial fleets Onboard Advisor, a first-of-its-kind fleet management

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