The New Jersey Supreme Court ruled that an auto insurance agent cannot bring an action under the provisions of the State’s Fair Automobile Insurance Reform Act of 1990 to recover damages from the insurance company who terminated the agency agreement, …
In the Friday edition of Schiff’s Insurance Observer editor David Schiff announced the formation of the Liberty Mutual Defense Fund (LMDF) whose goal is “to acquire Liberty on better terms than those offered to Liberty’s policyholders” under the present demutualization …
According to the American Insurance Association (AIA), following a second lengthy hearing, the Assembly Banking Committee recently voted to kill a bill that would have interrupted the California information economy. The AIA aggressively lobbied against this measure and led the …
According to the Insurance Information Network of California, when California unveiled an experimental, fixed-rate auto insurance policy for the poor last year, there was hope that it might encourage motorists who drive without insurance to comply with financial responsibility laws. …
Kemper Insurance Companies, Aquila Inc. and its wholly owned affiliate Aquila Re Ltd. announced they have joined together to market and underwrite products that protect buyers or sellers of electric power from unexpected spikes in the price of replacement power …
Administaff, Inc., the nation’s leading Professional Employer Organization (PEO), today announced that it has selected The Hartford Financial Services Group Inc. to underwrite the guaranteed-cost workers’ compensation insurance program for its corporate and worksite employees throughout the U.S. Under the …
According to the National Association of Independent Insurers (NAII), a state’s rating law plays a significant role in what people pay for auto insurance, Consumers in states with more regulation pay higher premiums generally than those in states where competition …
Commerce Commissioner Jim Bernstein announces the following appointments to the board of the Minnesota Property Insurance Placement Facility. Each appointee will begin their term on July 1, 2001 and serve until January 1, 2003. The board administers the Minnesota FAIR …
Standard & Poor’s international insurance rating service has reaffirmed the ‘BBB’ long-term counterparty credit and insurer financial strength ratings of African Reinsurance Corp. with a “stable outlook.” S&P noted a good operating performance and its leading role in the difficult …
The Enstar Group, Inc., based in Montgomery Ala., announced plans, together with Bermuda’s Castlewood Ltd., to acquire two reinsurance companies currently in run-off. They will take over London-based River Thames Reinsurance Corp. Ltd. and Bermuda-based Overseas Reinsurance Corp. Ltd. from …
