Illinois consumers filed fewer complaints about their insurance companies and HMOs according to the 2002 consumer complaint statistics released by Director of Insurance J. Anthony Clark. A major exception to this trend, however, was an increase in complaints against homeowner …
Unlike its German rival (see following story) Swiss Re posted a significant first half-earnings increase to CHF 691 million ($490 million), compared to CHF 118 million ($83.6 million) in the same period of 2002. Total premiums earned increased to CHF …
Pennsylvania Insurance Commissioner Diane Koken, in her capacity as the state regulator for the insurance industry, has released enforcement actions and market conduct examinations taken in July against insurance producers and companies licensed to conduct business in the Commonwealth. “Enforcement …
The New York State Insurance Department has approved a 1.7% average workers’ compensation rate increase. The move follows its initial decision to deny the New York Compensation Insurance Rating Board’s (NYCIRB) rate increase request of 11.3% because “it was not …
In contrast to its Swiss rival (see previous article) Germany’s Munich Re can’t seem to buy a break. Despite good gains in operating profit, 777 million euros ($845 million) in the first six months of 2003, the world’s biggest reinsurer …
LexisNexis RiskWise has developed a new service to more effectively fight the growing problem of insurance fraud. Using the LexisNexis(TM) Rate Evasion Evaluation service, insurance companies can now reportedly detect falsified data on applications to fight unknown exposure and subsequent …
Nevada Insurance Commissioner Alice A. Molasky-Arman has approved the request of American Family Mutual Insurance Company (American Family) for an overall statewide increase of 4.4 percent for private passenger automobile insurance. American Family made adjustments to its auto and home …
A Madison County, Ill., judge has certified a class-action lawsuit on behalf of 30,000 Geico Corp. policyholders on the direct insurer’s use of aftermarket parts to fix damaged vehicles. The Alliance of American Insurers’ claims director Kirk Hansen said the …
Aviation Charter Inc. has agreed to a $25 million insurance settlement with the family members of Minnesota Sen. Paul Wellstone and five other passengers as compensation for the October plane crash which killed them, according to the Associated Press. The …
Palmer & Cay, Inc., a privately-held insurance brokerage and benefits consulting firm based in Savannah, Ga., announced its entry into the reinsurance market with the formation of two new entities, Palmer & Cay Reinsurance Brokers and Savannah Reinsurance Underwriting Management …