By now, it’s hardly an exaggeration that medical-malpractice liability insurance markets in several states are in crisis. As is the case with so many other insurance lines, the exodus of medical liability carriers leaves physicians and other health care providers—especially …
New York Gov. George Pataki has signed a bill (A.11821) to bring accounting standards for the state’s domestic insurers into compliance with the National Association of Insurance Commissioners’ (NAIC) standards used in every other state. “This legislation puts New York …
Nearly a year after the Sept. 11 terrorist attacks, the issue of federal insurance backstop legislation to protect carriers against future losses stemming from more attacks remains a crucial yet unresolved issue for the insurance industry—and for more and more …
Nearly a year after the Sept. 11 terrorist attacks, the issue of federal insurance backstop legislation to protect carriers against future losses stemming from more attacks remains a crucial yet unresolved issue for the insurance industry—and for more and more …
Texas Governor Rick Perry and Attorney General John Cornyn announced that his office filed suit against Farmers Group Inc., the state’s second largest homeowners insurer, Aug. 5 for allegedly charging unnecessarily high rates for homeowners coverage, and for deceptive and …
Fitch Ratings released a special report, “Asbestos: Impact on the U.S. Insurance Industry,” describing how future claims will affect property and casualty insurers. The report includes estimates of insurers’ future asbestos liability, a survival ratio target for the property/casualty industry, …
Now that the hard market has firmly set, it’s no secret that more and more standard property and casualty insurance carriers are seeking to stem losses by restricting coverage and revamping underwriting habits. As in previous periods of reduced capacity, …
The U.S. insurance industry must have breathed a collective sigh of relief recently, when the Senate approved terrorism insurance backstop legislation after months of debate and delay. But now legislators must reconcile the bill, the Terrorism Risk Insurance Act (S. …
Fitch Ratings released a special report, “Asbestos: Impact on the U.S. Insurance Industry,” describing how future claims will affect property and casualty insurers. The report includes estimates of insurers’ future asbestos liability, a survival ratio target for the property/casualty industry, …
Responding to moves by Farmers Insurance Company to further restrict coverages in homeowners policies it will write in the state, Insurance Commissioner Jose Montemayor expanded the state insurance department’s investigation of underwriting guidelines to include each of the three largest …
