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Citizens: Water Losses the Reason for Rate Increases in South Florida

In a nearly three-hour rate hearing on August 25, representatives from Florida’s Citizens Property Insurance Corp. delved into and defended their recent rate filing, which included significant increases in many Florida regions, before the Florida Office of Insurance Regulation (FLOIR). …

Aon Risk Solutions Hires Surette as Resident Managing Director in Boston

Aon Risk Solutions, the global risk management business of Aon plc, hired Joe Surette as resident managing director of Boston operations. Surette succeeds Peter Caine, who left Aon in May to become chief operating officer of Lockton’s St. Louis operations. …

Maine Issues Bulletin Prohibiting Use of Price Optimization

Maine Insurance Superintendent Eric A. Cioppa stated in a bulletin published Monday that in Maine, personal lines property/casualty insurers that use price optimization should submit revised rate filings removing such factors within 60 days after the date of the bulletin. …

Ohio Licenses First Captive Insurance Company

Lieutenant Governor Mary Taylor announced that Imprise Financial PCC Inc. is now licensed as Ohio’s first ‘protected cell’ captive insurance company. Through its protected cells, Imprise Financial will allow businesses to insure some of their own commercial risks, realize greater …

BNSF Seeks Delay in Lawsuit over North Dakota Derailment

A lawyer for BNSF says a civil lawsuit against the railway over a derailment near Casselton, N.D., nearly two years ago should be put on hold until it can be determined whether a broken axel was the cause of the …

IBHS: After Katrina, Roofing Regulations Stronger on Gulf Coast

According to new research by the Insurance Institute for Business & Home Safety, stronger building codes and standards, along with more stringent requirements for inspections, building permits, and contractor licensing, all have contributed to safer, stronger roofs in coastal Alabama, …

Aspen Appoints Tassone as Executive VP for U.S. Program Business

Aspen Insurance announced today that Dominick Tassone has been appointed executive vice president, Programs, for its U.S. business. Tassone’s appointment will be effective from Oct. 1, 2015 when Tom Muller, the current head of Programs for Aspen U.S. Insurance, retires …

Kansas Man Sentenced for Iowa for Insurance Scam

A 38-year-old Kansas man has been sentenced to a year and a day in prison for mail fraud connected to an insurance commissions scam in Iowa. Brian Henton, of Olathe, Kansas, was sentenced last week in U.S. District Court in …

Palmer & Cay Re-Enters Texas, Taps McClure as President

Independent insurance broker Palmer & Cay has re-formed operations in Dallas, Texas, and named Howard H. McClure III as president of Palmer & Cay of Texas LLC. Georgia-based Palmer & Cay first entered the Texas market in 1999 but the …

Hurricane Katrina: The Numbers Tell Their Own Story

In a 25-year span leading up to 2005, homeowners insurers in Louisiana wrote a total of $13 billion in homeowners insurance premium, from which they earned $1 billion in profit, according to the chief actuary at the state insurance department. But …

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