The latest legislative attempt to correct last year’s Wisconsin Supreme Court rule invalidating non-economic damage caps and making other impacts on the state’s medical malpractice law, (AB 1071, 1072, 1073, and 1074), all passed the Assembly, the American Insurance Association …
California Insurance Commissioner John Garamendi on Friday reported the sentencing of former San Diego insurance broker Roberto Molina Jr., 55, to 180 days in jail and three years of probation stemming from an investigation by the California Department of Insurance …
A.M. Best Co. has downgraded the debt rating to “ccc” from “b+” of the $100 million 6.05% 30-year surplus notes issued by Atlantic Mutual Insurance Company (New York, N.Y.). A.M. Best has also downgraded the financial strength ratings (FSR) to …
Florida personal injury protection (PIP) claim costs (claimed economic losses and actual claim payments) increased at double-digit rates between 2002 and 2005, far outpacing the rate of inflation, according to a new Insurance Research Council study. The average total claimed …
Measures aimed at improving the property insurance market are expected to dominate the insurance agenda when the Florida Legislature convenes on March 7, according to the American Insurance Association. Legislators also will debate whether to allow next year’s statutory sunset …
Attorney General Mike Cox reported Friday that American International Group Inc. and its subsidiaries (“AIG”) have paid more than $5.2 million to the State of Michigan, representing the underpayment, with interest, of workers’ compensation premium taxes and related fees and …
Booker T. Washington Insurance Company voluntarily submitted to being placed into receivership late Wednesday in Jefferson County Circuit Court, according to Alabama Insurance Commissioner Walter A. Bell. “I am pleased with the leadership of Booker T. Washington Insurance Company for …
The statue of Tom Sawyer and Huckleberry Finn that overlooks the Hannibal, Missouri historic district will be off limits to tourists until the foundation that holds the statue is replaced. An engineering company and the insurance company that insures the …
A public hearing is now underway in Tallahassee with the Florida Office of Insurance Regulation discussing a Homesite Insurance Company of Florida request for a statewide average increase of 21.8 percent. The requested rates are not uniform and some areas …
North Dakota pharmacists say they have been forced to borrow money because insurers are slow to pay the bills under a new Medicare prescription drug program. Nearly one in five pharmacists was forced to borrow money and many others had …
