Texas Governor Rick Perry announced recently that he favors placing the Texas homeowners insurance industry under total rate oversight by the state. His remarks were partly in response to a report by Texas attorney general John Cornyn, which showed some …
Capital fuels the insurance industry. It constitutes the reserves, pays the claims and provides the investment funds necessary to make a profit (excepting an aberration like 2001). However, the total amount of capital invested at anytime constantly changes—sometimes there’s too …
Steven W. Schermerhorn of Sandy, Utah, is spending 30 days in jail for insurance fraud. In October 1999, Schermerhorn suffered water damage in his basement as a result of a hose left running in a neighbor’s yard. Schermerhorn alleged the …
The Department of Labor and Industries (L&I) is returning more than $78 million in workers’ compensation premiums to Washington employers and associations enrolled in retrospective rating plans. 29 professional organizations and trade associations will be receiving checks from L&I and …
Hawaii’s 2002 legislative session ended this month with few significant property/casualty bills passed. One pressing issue facing Gov. Benjamin Cayetano’s review, however, is House Bill 2827, which would transfer $4 million from the insurance regulation fund to the general fund. …
Zenith National Insurance Corp. declared a regular quarterly cash dividend of $.25 per share on its outstanding shares. The dividend is payable August 14, 2002 to stockholders of record at the close of business on July 31, 2002.
eAutoclaims has launched a car rental procurement offering through its eJusterSuiteT application service provider (ASP) for auto repair claims. eJusterSuite™, which integrates claims processing into one Web-based system that brings together multiple service partners, will now enable insurance adjusters and …
The insurance industry is preparing to adopt new policies and guidelines in efforts to safeguard their assets from money laundering-a decision that was brought upon due to the impending Patriot Act, legislation that cuts off funding to terrorist cells, according …
Property and casualty insurance specialist, Westfield Group, of Westfield, Ohio, has become the newest multi-tiered contributor to InVEST, an insurance education program that trains high school and community college students in insurance agency and company operations. According to InVest, Westfield …
Following the annual meeting of its shareholders, the board of directors of Columbus, Ohio-based State Auto Financial Corporation declared a regular cash dividend of $0.0325 per share, payable on June 28, 2002, to shareholders of record on June 12. This …
