U.S. Rep. Melvin L. Watt, D-N.C., chairman of the House Subcommittee on Oversight and Investigations, will oversee a hearing today on Capitol Hill to consider the implications for consumers of the growing use of credit-based scores by insurers. Watt said …
Steady erosion of commercial insurance industry pricing continued during the third quarter of 2007, according to the RIMS Benchmark Survey, a survey of current policy renewal prices as reported by corporate risk managers. As has been the case in recent …
More than 1200 participants assembled Monday morning at Geneva’s International Conference Center for the fifth Forum of the Federation of European Risk Management Associations (FERMA). Delegates were welcomed by Pierre-François Unger, president of the State Council of the State of …
Alabama legislators unveiled a law designed to help the Gulf Coast real estate industry and coastal homeowners hit by high insurance rates but Gov. Bob Riley said there is no current consensus to address it in a special session. The …
A company that manages old workers’ compensation claims for West Virginia is laying off 62 employees after it lost the contract to another company. Cambridge Integrated Services Group Inc. announced the layoffs Wednesday. The company says it will close its …
Former state Sen. John Ford is arguing in Nashville, Tenn., federal court that wiretaps from an undercover bribery investigation should not be used against him in an unrelated criminal case. Ford is currently accused of misreporting $800,000 in payments from …
The trustee of the former Weirton Steel Corp. is suing Zurich Specialties London Ltd., claiming the insurance company refused to pay a legitimate claim and now owes the bankrupt steelmaker’s creditors $39 million. The complaint, filed in U.S. District Court …
A civil trial regarding Allstate Insurance Co.’s procedures for handling claims began in Fayette County Circuit Court this week. Geneva Hager, of Richmond, Ky., filed a $1.425 billion civil lawsuit claiming the company’s procedures for handling claims violates state law. …
More people in Connecticut may be getting snagged by police for chatting on their hand-held cell phones while driving, but state lawmakers worry that not everyone is hanging up. “We are seeing more and more drivers violating the law,” Rep. …
Chicago-based Specialty Underwriters’ Alliance, Inc. (SUA) recently announced that the company has entered into a new Partner Agent contract with First Light Program Managers, Inc. (“First Light”) to provide commercial general liability and commercial automobile liability to selected classes of …
