Insurers were pleased as the National Association of Insurance Commissioners (NAIC) adopted its Commercial Lines Rate and Form Model Act at its Executive Committee meeting during the Spring Meeting in Reno this week. The National Association of Independent Insurers (NAII) …
A federal judge has refused financier Martin Frankel’s request to dismiss alleged racketeering charges against former aide Mona Kim as well as a request that she be tried separately, according to the Associated Press. U.S. District Judge Ellen Bree Burns …
The Wisconsin State Assembly passed the Budget Reform Act early March 15, minus a proposed prohibition on insurers’ use of credit-based insurance scores. The passage of the budget bill, combined with the demise of a stand-alone measure earlier this month, …
Legislation that would prohibit insurers from canceling or non-renewing policyholders based solely on their credit-based insurance score passed the Minnesota Senate last week. “While Senate File 2363 is an improvement over the original proposal that banned the use of insurance …
The Hong Kong and Shanghai Bank Corp. (HSBC), which despite its name is actually based in London, announced plans to to tap the growing insurance market in mainland China by opening branches of HSBC Insurance in Beijing, Shanghai and Guangzhou. …
As plans for the sale of a majority interest in Germany’s Gerling Group become clearer, Standard & Poor’s, while reaffirming the single-‘A’-plus long-term counterparty credit and insurer financial strength ratings on the Group’s core insurance subsidiaries, revised its outlook to …
Despite the difference in spelling, London’s new Run Off Centre might be equally useful to U.S. companies involved in the run-off process as its backers hope it will be for their U.K. and European counterparts. The Centre was developed by …
The National Association of Professional Insurance Agents (PIA) has condemned an opinion by the Office of the Comptroller of the Currency (OCC) that some provisions of a Massachusetts insurance law would be preempted under the Gramm-Leach-Bliley Act (GLBA) and therefore …
A study by John D. Worrall, professor and chair of economics at Rutgers University – Camden, concludes that “New Jersey’s auto insurance laws are fundamentally flawed, guaranteeing an inefficient and unstable market that neither serves the state’s motorists nor individual …
California-based PAULA Financial announced March 18 a net loss of ($5.53) per share for the year ended Dec. 31, 2001 compared to a net decline of ($3.51) per share for the same period a year ago. Negative underwriting results from …
