The collapse of the subprime mortgage lending industry has dominated the headlines, led to turmoil in the credit and financial markets, and left the residential real estate marketplace in disarray. It also has already generated waves of litigation, with the …
For an insurer, understanding climate change is a matter of understanding trends in risk and changes in those trends. For Wendy Baker, president of Lloyd’s America Inc., staying on top of those trends in the United States — where her …
The federal government may be overpaying private insurers for their operating costs associated with the National Flood Insurance Program (NFIP), a recent report said. The government’s payments to insurance companies for operating costs ranged from “more than a third to …
Executives more optimistic about life/health insurance than property/casualty sector Insurance executives expect to see a significant increase in mergers and acquisitions in the next 12 months, according to a survey conducted by KMPG LLP. In the next one to three …
The insurance industry has witnessed a reduction in the number of markets, agents and brokers, and overall industry personnel in the past 10 years. Meanwhile, many markets continue to soften, competition has increased with Internet direct sales, and there are …
Oregon has implemented a new law aimed at making group contractor liability insurance more available. HB 2751 implements one of the recommendations of the The Construction Claims Task Force, and adds group contractor liability to the existing exceptions to the …
Losses from golf-ball-sized hail in Pueblo and Colorado Springs, Colo., in August has been tallied at $60 million, making it the state’s costliest hail storm in three years. The Rocky Mountain Insurance Information Association said insurance companies expect claims from …
The Catholic Diocese of Santa Rosa has agreed to pay more than $5 million to settle a sex abuse lawsuit involving fugitive priest Xavier Ochoa and 10 alleged victims. The diocese will pay the plaintiffs $5 million from insurance funds …
Washington’s Department of Labor and Industries has proposed raising workers’ compensation rates 3.2 percent in 2008, with the average premium increasing by just more than 2 cents per hour worked. L&I indicated the rate increase would help to keep pace …
Allstate Insurance Co. announced it is opening a customer service center in Las Cruces, N.M., that is expected bring in more than 200 jobs to the area. The city’s bilingual employee base and a good business environment were important in …
