Monthly Archives: <span>January 2012</span>

Missouri Regulators Recover a Record $21M from Insurers in 2011

Missouri insurance regulators say they returned a record amount in claims recoveries to consumers in 2011. An additional $21 million was recovered from insurance companies by the Missouri Department of Insurance on behalf of consumers; the previous record was $14.6 …

California Legislator: Feds Will Step Up Involvement in Insurance Industry

“Listen to me now, understand me later.” State Sen. Juan Vargas, D-San Diego, gave a well-received Arnold Schwarzenegger impression, chest heaving and heavy on the former California governor’s thick Austrian accent. Vargas, a former president of external affairs for Safeco …

Mass. AG Calls Proposed Homeowners Premium Hike ‘Illegally Excessive’

Massachusetts Attorney General Martha Coakley is opposing a recently proposed home insurance rate request for 150,000 consumers, calling it illegally excessive. She made her remarks during her testimony before the commissioner of insurance last week. The rate hikes are proposed …

Study: Recession Impacts California Workers’ Compensation

More people in California stayed on disability longer because a fewer “light duty” jobs are available in the down economy, authors of a study on worker’s compensation said. The impact of the recession on California’s workers’ compensation system was felt …

N.J. Amends 25% of PIP Reform Proposals, Reflecting Public Comments

New Jersey’s Department of Banking and Insurance has amended some 25 percent of its personal injury protection (PIP) rule proposals, after reviewing and incorporating recommendations from a mountain of public comment letters it has received. The department said last week …

Penn.-based USG Insurance Services Appoints President

Canonsburg, Penn.-based USG Insurance Services appointed Timothy Horton as president of USG and subsidiaries. In this role, Horton will be responsible for the operations of all USG profit centers and the future direction of the company. He reports directly to …

Foremost Launches Updated Auto Program in Illinois

Foremost Insurance Group has introduced its enhanced auto program in Illinois, featuring more competitive rates, new discounts, increased coverage options and improved online processing. “The technological enhancements that come with this launch make the quoting and binding process even easier,” …

Fairfax Prem Watsa Brings Hope to RIM’s Restless Shareholders

The arrival of the man known as “the Warren Buffett of North” on Research In Motion’s board this week offers a ray of hope to the BlackBerry maker’s impatient shareholders after their disappointment that an insider was named new chief …

West Joins Dealey, Renton in Northern California as Senior Vice President

Dealey, Renton & Associates has named Morgan West senior vice president. West will be based in DRA’s Oakland, Calif. office and will report to President Al Chinn. West’s role will include working with key accounts and assisting in certain management …

Everest Re Estimates Q4 Total Catastrophe Losses at $245 Million

The Bermuda-based Everest Re Group announced that it expects to incur net catastrophe losses of approximately $245 million, after reinstatement premiums and taxes, for the quarter. “This loss provision includes an estimate for the floods in Thailand, with losses now …