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Connecticut Regulators OK Rate Hikes Lower Than Anthem Sought

Caught between an angry public and insurer citing soaring medical expenses, Insurance Department of the state has not made both sides happy Thursday when he rejected a request for rate hike Anthem Blue Cross and Blue Shield health policy. I...

AIG reports 2Q Profit, First Since 2007

NEW YORK_American International Group Inc. reported its first quarterly profit since 2007 on Friday that the government controlled by the insurer saw the value of certain of its assets recover degraded. AIG said in its basis of the results...

Study: Midsize Cars In Low-speed Crashes Costly To Fix

Drivers of new midsize cars will take a big financial hit if they get into traffic accidents even at speeds as low as 3 mph, according to a new study. A crash-test study of midsize cars showed that even at low speeds of up to 6 mph, the chea...

Travel Survey Finds Americans Suffering from ‘Vacation Deficit’

RICHMOND, Va.--(BUSINESS WIRE)-- When someone thinks of a deficit, they think of budget woes. But a new survey finds that the United States is in the throes of a serious vacation deficit. According to a just-released survey of travelers...

AIR Worldwide Updates its U.S. Earthquake Model to Reflect Significant Advances in Science and Engineering

BOSTON--(BUSINESS WIRE)-- Catastrophe risk modeling firm AIR Worldwide Corporation (AIR) announced the availability of an update to its probabilistic earthquake risk model for the United States. The model is used by insurers, reinsurers, cor...

Last-resort Insurer Wants Rates Raised

Aug. 5--Thousands of homeowners who have policies with the state's insurer of last resort could see another double-digit rate increase later this year. The board of the Texas Fair Access to Insurance Requirements Plan voted Tuesday to ask st...

NAIC's Insurance Compact Amends Filing Rule

The Interstate Insurance Product Regulation Commission is giving insurers extra time to transition some of their systems to the standards used for the National Association of Insurance Commissioners' compact. The IIPRC, better known as the...

Insurance Coverage On The Final Frontier; Space Tourism A Giant Leap For Insurers

As last weeks 40th anniversary of the moon landing focused attention on the future of manned space flight, observers said early providers of space tourism would face expensive pricing for property and liability cover and possibly scarce capa...

South Carolina Report Finds Captive Concerns

South Carolinas top insurance regulator says the states insurance department has addressed or is working to correct concerns about the states captive insurance regulation raised in a report from South Carolinas Legislative Audit Council. The...

Philadelphia Insurance Companies Named to 2009 Ward's Top 50

Philadelphia Insurance Companies was selected to the 2009 Ward's 50 group of the top performing property-casualty insurance companies in the industry for the 9th year in a row. Ward Group, based out of Cincinnati, completed the in-depth revi...

Fitch Releases Special Report on Analyzing Prior Period Loss Reserves

In a new report, Fitch Ratings discusses property/casualty insurer loss reserves for older underwriting periods, and challenges in assessing reserve strength for insurers with longer tail claims liabilities. Reserves from accident years befo...

House Passes National Flood Insurance Program Extension

Big I commends passage and calls for updates to NFIP that protect homeowners and small businesses WASHINGTON, D.C., July 29, 2009 The Independent Insurance Agents Brokers of America (the Big I) today commended the passage of the National Fl...

Billionaire Insurance Exec Attacks Middle Class With Ballot Initiative to Increase Auto Insurance Premiums

SANTA MONICA, California, July 30 / PRNewswire-USNewswire / - The billionaire chairman of Los Angeles-based Mercury Insurance Company organized a ballot measure that would legalize surcharges of hundreds of dollars for car insurance, to pen...

Steven R. Simon, P.A. Announces Filing of Class Action Suit against the Hartford for Underpayment of Hurricane Wilma Claims

MIAMI--(BUSINESS WIRE)-- Steven R. Simon, P.A. announces that it has filed a class action lawsuit against Hartford Insurance Company of the Midwest in Broward County Circuit Court yesterday. The lawsuit alleges that The Hartford refused to p...

Rain, Rain Go Away, Or Insurance Will Have To Pay

For those irritated, distraught and downright angry that rain has dampened their vacation, there is insurance available for the interruption of sunshine. Aon France has partnered with French-based travel-planning groups Pierre et Vacances an...

Sour Economy Squeezes Buyers, Brokers Alike

INSURANCE BROKERS of all sizes agree that times are tough for them and their clients. The economic recession that began in late 2007 has created big challenges in the brokerage industry, as we report beginning on page 11. Most firms have had...

Economy Cools M&A Enthusiasm

Economy cools MA enthusiasm; Buyers and sellers exercise more caution in potential deals SALLY ROBERTS Uncertainty about the economy, insurance pricing and the political environment, coupled with tight credit markets, have slowed the number...

National Insurance Corporation Announces Strategic Alliance with Brokers International Ltd.

NEW YORK--(BUSINESS WIRE)-- National Insurance Corporation, a subsidiary of National Holdings Corporation (OTCBB: NHLD) - a full service investment banking holding company, announced today they have entered into a strategic alliance with Bro...

Direct-only deals dominate the market

Homeowners using mortgage brokers to find a new deal have been warned that two-thirds of deals are now only available directly from lenders. Research by Moneyfacts.co.uk, the financial website, has found that intermediaries can advise on on...

Nationwide Insurance, Allied Insurance Responding to Hail Storm in Denver Area

COLUMBUS, Ohio--(BUSINESS WIRE)-- Nationwide Insurance and Allied Insurance claim representatives and agents are prepared to assist customers affected by the recent hail storm in the Denver area. Procedures are in place to provide quick resp...

State Farm, Customers At Odds Over Award

State Farm Fire Casualty Co. argued in federal court Wednesday that the company should not have to pay policyholders $174,811.80 for Katrina damage attributed to wind because an umpire and two appraisers who set the amount strayed into deter...

Mortgage lenders are failing consumers in their hour of need

Mortgage lenders are failing to help long-standing customers who have lost their jobs. Several readers have written to Sunday Times Money to say their lenders are refusing to offer them assistance, or even to give them a fair hearing, when...

Think before rushing into a fixed rate mortgage deal

Lenders were last week branded unfair for raising the cost of mortgages even though the rates at which they lend to each other in the money markets have dropped to record lows. Brokers said fixed rates have gone up so much that borrowers co...

U.S. Withheld Data on Risks of Distracted Driving

In 2003, researchers at a federal agency proposed a long-term study of 10,000 drivers to assess the safety risk posed by cellphone use behind the wheel. They sought the study based on evidence that such multitasking was a serious and growin...

Insuring Against Hurricanes

To hedge against the Big One, buy an exchange-traded hurricane contract. Despite a quiet hurricane season so far, the capital-starved insurance industry remains nervous. Hurricane Ike caused $11.5 billion in damage last year. State Farm, Flo...

Liberty Mutual Survey Shows Baby Boomers Reluctant to Speak to Aging Parents About Their Driving but That Seniors Are Willing to Talk

Baby Boomers have a difficult time speaking to their parents about when to limit or stop driving, yet most seniors are open to talking about the increased safety risks they face on the road as they age, according to a national survey by Libe...

Insuring Against Hurricanes

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