Already reeling from one insurance rate increase still under appeal, independent sedan transportation operators in Maryland have been told rates will be going up again. The Maryland Automobile Insurance Fund, a quasi-government pool that supplies insurance to motorists turned down …
The Republican Party of Virginia is suing its liability insurance carrier, seeking nearly $1 million in reimbursement for the GOP’s payout to settle a lawsuit over the eavesdropping scandal and attorneys’ fees the insurer refused to cover. The state GOP …
OneBeacon Insurance Group in Boston has agreed to sell its National Farmers Union Property and Casualty Company (NFU) subsidiary to QBE Insurance Group for approximately $142 million, subject to adjustment based on closing book value. The transaction includes NFU’s wholly …
A former California insurance broker/agent faces up to 20 years in prison after pleading guilty in New York to conspiracy charges related to insurance fraud. The case stems from the findings of a joint investigation by the California Department of …
The Arkansas Insurance Department issued a bulletin reminding insurance producers that the state’s Producer Licensing Model Act (PLMA) was amended by Section 9 of Act 1697 of 2005, to create more transparency for insurance consumers through better disclosure of insurance …
Liberty International Underwriters (LIU) has announced plans to start a dedicated U.S. fidelity bond department. Gerry Mogan, vice president of fidelity and Melissa Schwartz, fidelity underwriting manager have been brought on to lead the effort. The typical U.S. business loses …
The Chubb Corporation reported that net income in the second quarter of 2005 was $496 million, a 39 percent increase over net income of $356 million in the second quarter of 2004. Net income per share increased 32 percent to …
Mark Bowsher has joined Montgomery Insurance as the vice president of Personal Lines Operations for the Sandy Spring, Charlotte and Atlanta regional offices. Bowsher will work in Montgomery Insurance’s Charlotte, N.C. region where its Personal Lines Operations are based. Bowsher …
The Florida Department of Financial Services has received reports of an unlicensed entity selling bogus homeowners insurance in Florida. Global Insurance Group, headquartered in Aventura, Fla., has been aggressively advertising that it offers the lowest windstorm insurance rates in Florida. …
Key Elements in a Market-Based Approach to Terrorism Insurance Property Casualty Insurers Association of America Presented to the House Financial Servcies Committee July 26, 2005 Fundamental Objectives Fundamental objectives to be achieved by a market-based approach to the problem of …
