Illinois-based INSTEC unveiled the industry’s first complete, native Windows commercial package policy processing solution earlier this week at the 2002 ACORD Conference “Real World Solutions,” in Orlando, Fla. The QuickSolver Commercial Package Policy (CPP) software is a countrywide rating and …
According to the Insurance Services Office (ISO), U.S. insurers will pay out $700 million for damage from storms that wrecked havoc through 17 states at the end of April. The losses are the largest to hit the country since Tropical …
The Alliance of American Insurers has written to U.S. Senate Majority Leader Thomas Daschle (D-SD) and Minority Leader Trent Lott (R-MS) urging prompt consideration of the terrorism insurance bill, given the recent high-level predictions of future attacks. Alliance Senior Vice …
Ohio-based State Auto Financial Corporation estimates that storms would contribute between $20 to $22 million to losses in the second quarter, adding 9 to 10 direct loss ratio points to second quarter results. The company stated that high winds, tornados …
Michigan Office of Financial and Insurance Services (OFIS) Commissioner Frank M. Fitzgerald announced his office will hold public hearings during June and July to gather information on the use of consumer credit history to set insurance rates and the effect …
A new agreement between GE Global Asset Protection Services, a unit of GE’s Employers Re group, and XL Winterthur International (XLWI), a member of the XL Capital Ltd. group, aims to give risk managers access to insurance protection and loss …
The Netherlands ING Group reported a 0.4 percent increase in net profit for the first quarter of 2002 compared to the same period in 2001, to €1.136 billion ($1.05 billion), the figure also represents a 19.8 percent increase over the …
Recent moves have confirmed the reality of the expanding Chinese insurance market. They include an agreement between U.S. and Chinese regulators to share information; an announcement that AIG has been granted a first ever insurance license for China’s capital, Beijing, …
The National Association of Mutual Insurance Companies (NAMIC) added its weight to the growing demand for reform of New York’s Personal Injury Protection or “no-fault” auto insurance laws. Roger Schmelzer, NAMIC’s vice president-regulatory affairs, specifically urged two state legislative leaders, …
Twelve persons have been arrested in a sting operation in Queens, charged with falsely reporting that their vehicles had been stolen and collecting the insurance proceeds, totaling around half a million dollars. The undercover investigation known as Operation Fraud Fools …
