Flood season is approaching but the Snoqualmie (Washington) community is reportedly resting a little easier now that work is essentially complete on a multi-million dollar river-widening project to reduce the threat of devastating floodwaters. “Rain and snow will continue to …
California Insurance Commissioner John Garamendi released the following statement following Gov. Arnold Schwarzenegger’s signing of legislation to protect consumers, especially seniors, from financial abuse in the sale of life insurance and annuities: “I have fought to protect consumers from all …
Louisiana Commissioner of Insurance Robert Wooley announced that a Baton Rouge, La., insurance producer was issued a cease and desist order, along with a summary suspension of his insurance license, due to allegations of fraudulent activity. Louisiana Department of Insurance …
Texas Workers’ Compensation Commission announced it is teaming up with employers to promote the eighth annual Drive Safely Work Week campaign, Oct. 4 – 8, 2004. According to TWCC by the end of the week, nearly 1,000 people will lose …
Michigan Attorney General Mike Cox announced that an additional 32 cases have been filed alleging that women from the Middle East flew into the United States, falsified information and deliberately lied on Michigan Medicaid forms to obtain Medicaid to cover …
Following up on his previous assertion that auto insurance in the state is actually too profitable, Massachusetts Attorney General Thomas F. Reilly has now called for a 6.2 percent cut in private passenger auto insurance rates for next year. Reilly’s …
Bermuda-based RenaissanceRe Holdings Ltd. estimates that Hurricanes Charley, Frances, Ivan and Jeanne will have a combined negative impact on the Company’s third quarter earnings of approximately $425 million. RenRe said “this initial estimate is based on results from catastrophe simulation …
Toronto-based Fairfax Financial Holdings Limited announced that its initial estimate of aggregate potential net losses relating to Hurricanes Frances, Ivan and Jeanne is in the range of US$85 million to US$95 million after tax and minority interests. All of the …
Bermuda’s ACE Limited announced that it will publish the company’s Global Loss Triangles shortly after 5:00 p.m. Eastern Daylight Time on Thursday, September 30, 2004. “A copy of these documents will be available on the Company’s website located at://www.acelimited.com in …
Fitch Ratings announced publication of a special report titled: “Reinsurance Credit Trends: An Update,” that examines industry-wide reinsurance-related data of property/casualty (re)insurers based in the U.S. In the report Fitch concludes that: — The industry continued to experience an increase …