Authorities say insurers have paid at least $2.2 billion claims arising from the April tornado outbreak in Alabama. The Birmingham News reports that more than 2,500 claims are still pending eight months after the storms. The figures, from the Alabama …
Despite more than $100 billion in disaster losses around the world this year, insurers are not yet experiencing a broad and sustained increase in pricing power, defying predictions from a year ago that even half those losses would be enough …
E-Trade Financial and its insurers have agreed in principle to pay $79 million to settle class action lawsuits brought against the online brokerage as a result of losses in its mortgage and home equity loans portfolio in 2007. E-Trade was …
A JPMorgan unit cannot force insurers to pay a $250 million settlement between failed investment bank Bear Stearns and government regulators, a state appeals court ruled on Tuesday. Reversing a trial court, the appeals court threw out a lawsuit against …
It costs an insurer up to $10 for each payment issued as a check. Besides the price of a stamp, this figure also takes into account behind the scenes costs, including customer care calls and stop payment fees, according to …
A consumer insurance advocate says Florida’s motor vehicle no-fault personal injury protection insurance is riddled with fraud and becoming too costly for consumers and some insurers as well. Robin Westcott told Gov. Rick Scott and the Cabinet on Tuesday that …
U.S. insurers’ prospective after-tax return on equity for homeowners insurance is 4.8 percent on average, a decrease from the 6.9 percent of 2010, mainly due to subdued investment returns and higher estimates of non-coastal losses. That calculation comes from Aon …
Florida’s hurricane fund is confronting a potential $3.2 billion shortfall, financial experts said Tuesday in a new estimate of the money available to the pool intended to help insurers make disaster payments. The fund was created after Hurricane Andrew devastated …
Hospitals and hospital groups should seek clarity from their malpractice insurers on the loading applied to premiums to account for claims inflation, according to Lloyd’s insurer Beazley. Specialist insurer Beazley is advising that applying an across-the-board annual percentage loading to …
With an 11th fatality declared as a result of the crash at the National Championship Air Races in Reno, Nev. on Friday, one of the world’s largest airshow insurers is anxious to draw a distinction between airshows and air races. …