Articles by Young Ha

Mass. Regulator on Boston Bombing Claims, TRIA Reauthorization Effort

Massachusetts Division of Insurance’s last data call showed that the vast majority of insurance claims stemming from the Boston marathon bombing tragedy have been resolved. The data also revealed that among the 160 commercial property and business interruption claims made …

Vermont Regulators: Updated Law Offers ‘Welcome Option’ for Inactive Captives

Vermont’s updated captive insurance law now offers inactive captives in the state a chance to apply for a “dormant” status. Vermont regulators said this latest modification reflects the state’s ongoing effort to introduce new prudent legislation for the captive industry. …

Poll: N.J. Residents Back Gov’t Storm Mitigation Efforts but Few Willing to Pay

A newly published study from Rutgers University in New Jersey shows that most state residents strongly support government programs aimed at lowering the likelihood of severe damage from future hurricanes. The study also found, however, that only a small fraction …

Group Urges N.Y. to Review Auto Insurance Rate Factors

A consumer advocacy group is urging New York regulators and legislators to undertake a thorough review of rate-making practices by auto insurers in New York. The New York Public Interest Research Group (NYPIRG) said that according to its analysis, some …

Group Urges New York DFS to Review Auto Insurers’ Rate-Setting Practices

A consumer advocacy group said its analysis shows some of New York State’s largest auto insurers are charging higher premiums to motorists who have less education and non-professional, non-managerial jobs. The New York Public Interest Research Group (NYPIRG) said it …

Agents Can Help Small Businesses Stay on Top of New Risks

Small businesses face a myriad of challenges throughout the business life cycle as they embark on new ventures and grow their operations. And insurance agents can serve as their guide and help them understand risks and insurance coverage options, according …

NYS Comp Board, Comic Tina Fey’s Reps Clear Up Workers’ Comp Issue

The New York State Workers’ Compensation Board had filed a $79,000 judgment against comic Tina Fey on March 20 for an alleged “failure to carry workers’ comp ins.,” for a period from Nov. 20, 2012, to Feb. 02, 2014, according …

Penn. High Court Reaffirms Statutory Employer Defense

Pennsylvania’s Supreme Court on March 26 reaffirmed statutory employer defense in a general contractor liability case, in which a subcontractor was injured during construction work. The high court’s decision overturns a $1.5 million jury verdict for the injured worker and …

Berkshire Hathaway Specialty Exec on Acquisitions, Expansion Plans

Berkshire Hathaway Specialty Insurance (BHSI), part of Omaha, Nebraska-based conglomerate holding company Berkshire Hathaway, has its eyes on overseas expansion, according to BHSI’s top executive. BHSI’s President Peter Eastwood said BHSI is “working hard at some expansion plans in Asia …

Delaware’s New Legislation Adds Teeth to Certificate of Insurance Regulations

Delaware legislature on Tuesday passed HB 104 (“An Act to Amend Title 18 of the Delaware Code Relating to Certificates of Insurance”) that aims to curtail the improper use of certificates of insurance. Delaware Association of Insurance Agents & Brokers …