Liberty Mutual Agency Corp. Boston-based Liberty Mutual Group has announced that its subsidiary, Liberty Mutual Agency Corp. (LMAC) has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering of shares of its common …
A former executive at Rhode Island’s dominant workers’ compensation insurer was acquitted last month on a charge that he deceived state regulators about companies that were receiving discounted premiums. Superior Court Judge Edwin Gale acquitted David Clark, a former vice …
You are on an airplane and you strike up a conversation with the person next to you. She is the decision maker of a company that buys your competitor’s products. You have such a great exchange that she asks for …
Surplus Battle “It’s pretty much as outrageously unconstitutional, illegal and in-your-face as it gets.” —Kevin Fitzgerald, a lawyer for the policyholders of New Hampshire’s Joint Underwriting Association (JUA), a state-created medical malpractice insurance fund from which lawmakers are trying to …
Massachusetts Attorney General Martha Coakley is proposing new regulations that she says will rein in sales and underwriting practices for auto insurers and agents in the state. The regulations come in response to a report issued by her office in …
$640 Million Amount sought in a lawsuit filed by diamond-seller Lazare Kaplan from its insurers after the “disappearance” of a large number of diamonds. The suit alleges the insurers – Lloyd’s syndicates – violated two all-risk policies issued in New …
Agents Vow to Fight Regulations Two trade groups for New York insurance agents are suing the state’s insurance regulator over new rules that will force them to reveal to clients how much they are paid for a particular transaction. The …
Chartis has introduced XSEnhanced: Real Estate, the third in the XSEnhanced suite of industry-specific commercial umbrella coverages developed by its Excess Casualty Division. XSEnhanced: Real Estate addresses many of the unique exposures facing the real estate industry by offering enhancements …
There will be no change in minimum and maximum temporary total disability (TTD) and permanent total disability (PTD) rates for 2011 work injuries, or in several other workers’ compensation benefits that are tied to increases in California’s average weekly wage, …
The Iowa Insurance Division (IID) has issued summary cease and desist orders against two contractors, directing them to stop acting as public adjusters. The division alleges the firms have been soliciting storm repair business without being properly licensed, in violation …
