North Dakota’s workers’ compensation board approved giving $77 million in dividends to most of its business customers over the next year, which could reduce their annual insurance bills by 62 percent. The dividend is intended to shrink a Workforce Safety …
Beacon Mutual Insurance Co., Rhode Island’s largest workers’ compensation carrier, reported that it will implement a 7.2 percent average decrease in rates that has been approved by the Department of Business Regulation. The average rate reduction of 7.2 percent will …
Insurance companies providing coverage in Louisiana should be allowed to adjust their “named storm” deductibles on homeowner policies depending on properties’ distance from the Gulf of Mexico, according to a bill sent to Gov. Bobby Jindal. Louisiana is the only …
Davenport, Iowa city officials estimate that they will be forced to spend nearly $4.5 million on flood damages, clean up and future protection efforts. The Mississippi River is still swollen at the eastern Iowa city and has yet to reveal …
Maryland’s insurance commissioner heard closing arguments last week on whether to allow a nearly $18 million severance and retirement package for former Carefirst CEO William Jews. Insurance Commissioner Ralph Tyler is looking into whether the payments are excessive for the …
National Atlantic Holdings Corp., parent of Proformance Insurance, reported that its shareholders have approved the proposed merger with Palisades Safety and Insurance Association of Berkley Heights, N.J. Freehold, N.J.-based NAHC said vote totals were 72.1% in favor, 27.8% against, and …
More than 365,000 Florida homeowners have signed up for free wind inspections through the My Safe Florida Home program, only 35,000 inspections shy of the Florida Legislature’s goal of 400,000 by June 2009. The first-come, first-serve program will continue accepting …
Specialty Underwriters’ Alliance, Inc. reports that it has received a letter from Hallmark Financial Services, Inc. containing an unsolicited, non-binding and conditional proposal to acquire the company. The proposal calls for each outstanding share of SUA’s common stock to be …
The Delaware Volunteer Firemen’s Association says it is looking into the safety of patient compartments in ambulances. Executive secretary Jim Cubbage says questions first surfaced after a January accident that injured three members of a Millsboro ambulance crew. Last week, …
As insurance agents and brokers search for ways to respond to the continuing soft market, they would be wise to follow the example of professional employer organizations (PEOs) that are winning over small and mid-sized employers, according to one consultant. …
