Chicago-based claims software-maker CCC Information Services Inc. announced that it and 15 of its customers signed a settlement agreement with the plaintiffs in various class action suits pending in Madison County, Ill. These consolidated suits, Case Nos. 01 L 157, …
The Wisconsin Supreme Court has struck down a law capping noneconomic damages in medical malpractice cases at $350,000. The court voted 4-3, saying the cap was “unreasonable and arbitrary” and no “rational” relationship between the cap and lower medical liability …
Allstate Floridian Insurance Corp. has filed with the Florida Office of Insurance Regulation with a request for two increases in renter’s and condominium owners insurance rates. One increase will be effective Aug. 15, and a second needs to be reviewed …
DCAP Group Inc., an operator of insurance agency franchises, has executed a non-binding letter of intent to acquire a group of storefront agencies in western New York State. DCAP Group Inc. owns and operates a chain of independent storefront insurance …
Carnival and circus owners and others involved in the amusement industry are being warned to verify the status of insurance coverage, according to the Kentucky Department of Agriculture and the Kentucky Office of Insurance. During a routine inspection, a KDA …
Agoura Hills, Calif.-based FSC Insurance Solutions has appointed Paul Areida as president and Byron Storms as senior vice president of sales and marketing. As FSC’s president, Areida will oversee rating and technology operations. Areida previously served as president of American …
Ending a 26-year drought, insurers posted a $5 billion net profit on underwriting in 2004, despite slowing premium growth and a deluge of catastrophe losses. Powered by the best underwriting results in almost three decades, insurers’ net income after taxes …
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of International Insurance Company of Hannover Limited (Inter Hannover) (United Kingdom), a subsidiary of Hannover Rueckversicherung AG (Hannover Re) (Germany). The rating outlook is stable. The rating reflects …
ING Canada announced that Royal & SunAlliance Canada (R&SA) has acquired the renewal rights of ING Insurance Company of Canada’s $13-million commercial marine insurance business, effective Sept. 1, 2005. Under the terms of the agreement, R&SA has acquired the renewal …
The Department of Insurance’s proposed homeowners regulations exceed the agency’s authority to adopt standards that involve underwriting practices, according to the Association of California Insurance Companies’ President Sam Sorich. “The regulations, which are the subject of a department hearing today …
