Calif. Insurance Commissioner John Garamendi announced he is not appealing the Board of Equalization’s unanimous decision that overturned former Commissioner Low’s determination that the gross premium tax applies to workers’ compensation deductible reimbursements. “In the unlikely event we were able …
A flex-rating bill introduced in Nevada would foster competition and modernize rate regulation in the state, according to the National Association of Independent Insurers (NAII). Senate Bill 12 would create a flex-rating system, allowing an insurer to make average rate …
Calif. Insurance Commissioner John Garamendi has correctly identified many of the serious problems plaguing the state’s workers’ compensation system and the critical solutions that are vital to improving the marketplace, the American Insurance Association (AIA) said. AIA also applauded the …
Springfield, Ill.-based Horace Mann Educators Corp. Directors announced a quarterly dividend of 10.5 cents per share payable on March 17 to shareholders of record as of March 10. Horace Mann provides retirement annuities, life insurance, property/casualty insurance, and other financial …
Standard & Poor’s has published a report that examines multiline insurers’ willingness to pay financial guaranty claims in a timely fashion. “Events over the past year starkly reinforce the need for investors to be certain that insurers providing financial guaranties …
Two Florida lawmakers, reportedly keenly aware of how insurance fraud is hurting consumers, have filed legislation designed to crack down on fraud perpetrators in the state. Sen. Bill Posey (R, Dist. 24) and chairman of the Senate Banking and Insurance …
The California Workers’ Compensation Insurance Rating Bureau (WCIRB) engaged EQECAT in Jan. 2003, a nationally recognized catastrophe modeling firm, to prepare an analysis of potential terrorism losses in California. Preliminary results of the EQECAT terrorism model for California indicate California …
First American CREDCO is offering an Office of Foreign Assets Control (OFAC) alert feature that allows those accessing credit reports to automatically screen customers against a list of Specially Designated Nationals (SDN) and Blocked Persons when requesting a credit report. …
The Kemper Insurance Companies announced it has reached an agreement in principle to sell the renewal rights to its surety business to Arch Insurance Group, a division of Arch Capital Group Ltd. Kemper’s agreement with Arch includes contract and specialty …
American International Group’s Chairman Maurice “Hank” Greenberg appeared to confirm earlier reports that the company will not be renewing insurance coverage on the properties of New York’s high-profile developer Donald Trump. Trump, who controls office buildings, hotels, casinos and other …
