Texas’ insurer of last resort for wind and hail in coastal counties will remain under the administrative control of state regulators and in August will file a 5 percent rate increase to become effective Jan. 1, 2013. On May 15, …
John Paulson, the hedge fund manager who has been pressuring The Harford to break itself apart to maximize shareholder value, is apparently satisfied with the insurer’s restructuring effort. Paulson’s hedge fund firm, Paulson & Co. Inc., announced in a federal …
The family of a woman left with brain damage after an accident during the filming of “Transformers 3” in Indiana has reached an $18.5 million settlement with Paramount Pictures. Gabriela Cedillo was working as an extra in 2010 when she …
Organizers of the national air racing championships secured $100 million in necessary insurance and announced plans to change the September race course for the fastest planes to keep them farther from spectators after last year’s mass-casualty crash near a grandstand. …
For the first time in four years, no area of the country faces a high risk of major spring flooding, largely due to the limited winter snowfall, according to the National Oceanic and Atmospheric Administration. “We’re not forecasting a repeat …
A bill recently passed and signed by the governor toughens the penalties for insurance fraud, Oklahoma officials say. Senate Bill 1439, requested by Insurance Commissioner John D. Doak, is expected to save taxpayers millions of dollars, according to the Oklahoma …
The Demotech Company Classification System categorizes insurers into one of 11 categories based on an analysis of data reported by the companies to the National Association of Insurance Commissioners. The 11 categories that comprise our classification system are National, Near …
The Wharton School at the University of Pennsylvania said on May 21 that it has established a new Wharton/Penn Risk and Insurance Program (WPRIP). The program’s goal is to promote and disseminate cutting-edge research on risk and insurance at the …
Allstate Insurance Company announced on May 15 that it is looking to appoint 140 new agency owners in Connecticut, Maine, New Hampshire, Pennsylvania, Rhode Island and Vermont. Allstate said the move is part of its strategy to ramp up its …
Floridians still remember Hurricane Andrew from 20 years ago and for good reason given the destruction the Category 5 wrought. Andrew still ranks as one of the most expensive natural disasters ever in the U.S. The state and weather experts …
