Gregory M. Shepard, an activist investor who’s been a major stockholder of Pennsylvania-based Donegal Group and a frequent critic of the company, has sold off his shares Tuesday, according to securities filings. Shepard’s stake consisted of 3.675 million shares of …
Regis Insurance Company, a Pennsylvania-domiciled insurance company, was recently issued an order of liquidation by the Commonwealth Court of Pennsylvania. Regis, a writer of small commercial business based in Paoli, Pennsylvania, was licensed in and domesticated in Pennsylvania in 1979. …
The Pennsylvania Compensation Rating Bureau (PCRB) has submitted a filing of Pennsylvania loss costs and related rating values with a proposed effective date of April 1, 2016. The filing proposes an overall average loss cost decrease of 0.90 percent. PCRB’s …
The Massachusetts Division of Insurance recently denied a request by Mapfre USA Corp. to add an ice-dam deductible to some homeowners policyholders who previously had multiple ice-dam claims. Mapfre USA Corp., the largest commercial home insurer in Massachusetts, had asked …
The Delaware Department of Insurance is reminding auto insurers that broad release language in settlement agreements which technically preclude a personal injury protection (PIP) carrier from pursuing its subrogation claim is unenforceable pursuant to the 21 Del. C. § 2118(g) …
Associates of Glens Falls Insurance, an independent agency in Glens Falls, New York, announced that it has acquired Loomis & LaPann Inc., an insurance brokerage unit of regional commercial bank Glens Falls National Bank and Trust Company. Terms of the …
Connecticut has joined the growing number of states that have banned or restricted the practice of “price optimization” in insurance pricing. Connecticut Insurance Commissioner Katharine L. Wade announced that the state’s Insurance Department has officially warned property/casualty insurers against using …
The Virginia State Corporation Commission (SCC) announced Tuesday the approval of revisions to the premium levels charged for workers’ compensation insurance in Virginia. The revisions will result in an overall average increase of 3.4 percent for voluntary market loss costs …
The largest force-placed insurance company in Massachusetts has agreed to provide refunds to homeowners to settle allegations that it improperly charged for force-placed insurance policies, Massachusetts Attorney General Maura Healey announced. Under the terms of the assurance of discontinuance, filed …
Property/casualty insurers writing commercial policies in Maryland are no longer required to file for approval the cancellation or nonrewal notices they send out to insureds, the Maryland Insurance Administration announced in a bulletin. “With certain exceptions, Maryland law requires property …
