Nuts & Bolts: Marine Managers announced the launch of two new programs, the Stock Throughput Program and the Marine Contractors Package Program. Stock Throughput is a combination of ocean and inland cargo (road, truck, rail, air) plus location coverage in …
An article in the Feb. 9 issue incorrectly stated that New Jersey carriers have appointed 500,000 new agents since auto insurance reform legislation was enacted last year. Only 500 new agents have been appointed, according to the office of Gov. …
East Lansing, Mich.-based medical liability insurer American Physicians Capital Inc. announced net income of $102,000, or 1 cent per share for the fourth quarter of 2003. For the year, the company reported a net loss of $76.8 million, or $9.02 …
Farmers in 13 states now have the opportunity to reduce the cost of their crop insurance by up to 10 percent, in an innovative program approved recently by the U.S. Department of Agriculture (USDA). Crop1 Insurance Inc. announced that it …
Michigan Office of Financial and Insurance Services (OFIS) Commissioner Linda A. Watters has launched the second phase of her investigation into rising home and auto rates in Michigan. Commissioner Watters issued a letter of inquiry to insurance companies writing auto …
Medical malpractice, electronic notification and surplus lines will be some of the hot property/casualty issues in the Illinois General Assembly spring session, according to a newsletter sent recently by the Professional Independent Insurance Agents of Illinois (PIIAI). According to PIIAI, …
Insurers are applying the brakes to workers’ compensation rate increases in Missouri, according to the state’s insurance department. After almost one-third of such insurers filed rate changes in January, overall rates increased an average of only 0.7 percent—compared to 14.7 …
Insurer Ohio Casualty Corp. announced that its 2004 fourth-quarter profit was $27.7 million, down 5 percent from last year’s $29.1 million. Meanwhile, the Fairfield, Ohio-based company boasted that a company-wide efficiency initiative resulted in a layoff of 260 employees around …
The Ohio Bureau of Workers’ Compensation (BWC) has announced a return on investment of 15.7 percent for 2003. BWC had an investment return assumption of 5.65 percent. The bureau’s rate of return for 2003 boosts the five-year average rate of …
AP Wire Service Ohio would create an insurance company to protect doctors and hospitals should private medical malpractice insurers leave the market under a bill approved by the Senate recently. The bill, which passed unanimously in the House and Senate, …
