Standard & Poor’s has published a report that examines multiline insurers’ willingness to pay financial guaranty claims in a timely fashion. “Events over the past year starkly reinforce the need for investors to be certain that insurers providing financial guaranties …
Two Florida lawmakers, reportedly keenly aware of how insurance fraud is hurting consumers, have filed legislation designed to crack down on fraud perpetrators in the state. Sen. Bill Posey (R, Dist. 24) and chairman of the Senate Banking and Insurance …
The California Workers’ Compensation Insurance Rating Bureau (WCIRB) engaged EQECAT in Jan. 2003, a nationally recognized catastrophe modeling firm, to prepare an analysis of potential terrorism losses in California. Preliminary results of the EQECAT terrorism model for California indicate California …
Texas Lt. Gov. David Dewhurst commented that homeowners insurance rates in Texas are running some 12 to 18 percent higher than they should be. According to the Houston Chronicle, Dewhurst made the remarks after Gov. Rick Perry signed a bill …
Soaring homeowners insurance premiums and the lack of availability of insurance coverage have become significant new barriers to homeownership, especially for new homebuyers who may have no credit history and existing homeowners who may have filed as few as one …
New Jersey Acting Attorney General Peter Harvey announced that a Monmouth County public insurance adjuster, a homeowner, and another person were named in a State Grand Jury indictment charging them with attempted theft by deception. The charges are related to …
The issue of credit-based insurance scoring is being revisited in many Midwestern states that considered legislation or regulations on the subject in previous years. “This is one of the hottest legislative issue in 2003 for not only the Midwest, but …
Montpelier Re Holdings Ltd., the Bermuda-based reinsurer formed by the White Mountains insurance group, reported net income of $73.7 million, or $1.11 diluted earnings per share, for the three months to Dec. 31, 2002 and net income of $152.0 million, …
Swiss-based Zurich Financial Services (ZFS) confirmed previous indications that 2002 was a very bad year by posting a $3.4 billion net loss. The losses were mainly due to special writeoffs and the decline in equity values, which amounted to around …
David Austern, an expert on asbestos claims litigation and management and president of Claims Resolution Management Corporation (CRMC), a pioneer in asbestos claims resolution and creator of e-Claims(TM) (patent pending), will speak to professionals and senior executives in the insurance, …