Florida lawmakers are trying to address the cost of sinkhole claims, which state officials and insurers say are driving up property insurance rates and could threaten the solvency of some domestic insurers if not brought under control. The Senate Banking …
Florida’s workers’ compensation market remains competitive with more than 250 private insurers writing coverage and only a fraction of business being funneled to the residual market. Also, availability does not appear to be a major concern in the aggregate, although …
Six years ago, Harleysville Group was in need of a big change. The Pennsylvania-based insurer had just come out of the worst performing year in its history. That’s when newly appointed CEO Michael Browne — who declared the company’s performance …
Tennessee has received reimbursement for last May’s flooding that damaged state buildings and other state-owned property. Treasurer David Lillard says the state received a $7.5 million check from Lexington Insurance Co. The state got a $5 million check as an …
Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that authorized the Office of Insurance Regulation to establish lower collateral requirements for non-United States based …
Republican Gov.-elect Bill Haslam has named insurance regulatory attorney Julie McPeak to oversee the Tennessee Department of Commerce and Insurance. The department includes the Consumer Affairs, Insurance, Securities, TennCare Oversight, Fire Prevention and Regulatory Board divisions. McPeak succeeds Leslie Newman. …
North Carolina insurers are looking to raise rates from 7 percent to 25 percent, or an average 20.9 percent statewide, for 2011 on dwelling fire and extended coverage policies. If approved the higher rates would affect about 570,000 policyholders, with …
The Griffith Insurance Education Foundation recently brought together industry, government and academic leaders — many from disaster-prone coastal states such as California, Florida, Louisiana and Mississippi for a symposium at Ohio State University. By the end of symposium, which was …
A White House panel probing BP’s massive oil spill has called for an overhaul of a regulatory system that was “entirely unprepared” for disaster and outlined stringent, new oversight, a plan sure to face opposition from Republicans reluctant to expand …
National wholesale broker USG Insurance Services, Inc. has added Jason Holloman as a property broker specializing in large commercial and catastrophe-exposed risks. He will be based in USG’s office outside Atlanta. Holloman most recently held a position as a wholesale …
