coverage News

Bill Allowing Insurers to Drop Drivers Axed by Arizona’s Brewer

Arizona Gov. Jan Brewer has vetoed a bill that would have allowed insurance companies to drop drivers from their coverage if their car was driven mostly out of the state. The bill would have affected college students and snow birds …

Rescission Decision Averts $43M in Damages in California Case

Attorneys representing Liberty Mutual Insurance Co. averting what could have been a $43 million payout in damages this week characterized the California court case a cautionary tale for insurers. The case is Heide Kurtz v. Liberty Mutual Ins. Co., et al., and …

Insurance Not Likely To Cover Damage in Montana Fire

Insurance policies belonging to the man who started the 2012 Corral fire in Montana likely won’t be enough to cover the damage to surrounding properties. Attorneys told the Independent Record that Robert Fitte has about $1.3 million in coverage to …

Texas Business Indicted on Workers’ Comp Fraud Charges

A Travis County, Texas grand jury has indicted Mark Edward Helm and McClanahan Drywall Inc., of Emory, Texas, on workers’ compensation fraud-related charges. Helm was an officer of McClanahan Drywall Inc. and obtained workers’ comp coverage through Texas Mutual Insurance …

Iran Oil Liability Fears Grow as Insurance Ban Bites

A ban on European Union insurers covering Iranian oil exports has forced ship owners to fall back on new, untested insurance providers, raising fears that governments may have to pay in the event of an oil spill. The July ban, …

Berkley Technology to Cover U.S. Tech Business through Lloyd’s

Berkley Technology Underwriters, LLC, a Minneapolis-based global technology underwriter and part of the W.R. Berkley Group, announced that it has “been accredited as a Coverholder on behalf of Lloyd’s of London. As a Coverholder, Berkley Technology Underwriters is able to …

Catlin Sponsors Demonstration of ‘Touch Table’ Technology

London-based Catlin Underwriting Agencies Limited, a unit of Catlin Group Limited, announced that it is studying how technological innovations could improve service to brokers and clients in the Lloyd’s market. As part of the project Catlin recently hosted an interactive …

IPISC Launches Abatement Insurance Program for Intellectual Property Risks

Louisville, Ky. headquartered Intellectual Property Insurance Services Corporation (IPISC), which focuses on intellectual property (IP) insurance risks, has launched the InventPro Abatement Insurance program. The InventPro program is designed to help enforce the policyholder’s IP rights against infringers who are …

Willis Germany to Present Photovoltaic Cover at Solar Energy Conference

Willis Germany, part of Willis Group Holdings, announced that it will be demonstrating the special features of “Willis Electronic Plus,” at the 27th European Photovoltaic Solar Energy Conference and Exhibition in Frankfurt on September 25-28. Willis described it as “an …

Swiss Re Report Analyzes Rise in Flood Losses – $15 Billion and Counting

A new report from Swiss Re underscores the fact the “insured flood losses have increased from $1–2 billion in 1970 to $15 billion in 2011, which it describes as an “alarming rate” while posing “unique challenges for the industry” as …