Insurance agencies have millions of dollars in transit through their trust bank accounts. How should agencies manage premium dollars? Unlike other sales and service companies, independent insurance agencies have a management function in their daily operations. Most property and casualty …
News Currents Risk Management Solutions has defended its hurricane risk models in the face of consumer groups’ criticisms that the models are more political than they are scientific and are designed to justify insurance premium increases. RMS declined to address …
Republic, American Vehicle Dallas-based Republic Companies Group Inc. announced an agreement in principal with American Vehicle Insurance Company, a wholly-owned subsidiary of 21st Century Holding Company, an insurance holding company. The agreement, subject to certain conditions, will enable American Vehicle …
The debate over ‘ensuing loss’ continues Mold ‘crisis’ put spotlight on policy language Despite all the recent changes in policy forms, a number of claims still exist under policies using “ensuing loss” language. This language has been the source of …
One couple has sued Regions Bank for allegedly failing to pay their windstorm policy out of their escrow account. Hurricane Katrina lawsuits are multiplying and it’s not just insurance companies that are defendants. Oil companies, mortgage brokers, a shipping firm …
The insurance industry will be faced with irate policyholders and on-going court costs-the insurance companies involved, however, have deep pockets and aren’t about to back down without a fight. After the federal court decision to pass the Mississippi flood vs. …
Seattle-based property and casualty insurer Safeco is considering direct marketing its automobile insurance business over the Internet to reach additional consumers that don’t like to deal with a middle-man and purchase insurance through agents. According to Paul Hollie, Safeco spokesman, …
Federal regulatory preemption is an “underhanded means by which unelected federal bureaucrats impose their will on the states,” charges New York Senator Michael Balboni, of the National Conference of State Legislatures’ Executive Committee. (Photo: NCSL) News Currents The federal versus …
The Florida Legislature took an important step toward making its civil justice system more equitable by repealing the doctrine of joint and several liability, according to the Property Casualty Insurers Association of America. Joint and several liability allows a disproportionate …
MCMASTER APPEALS TO BIG ‘I’ Members visit legislators Joint, several liability repealed
