New Jersey Attorney General Peter Harvey announced that a Camden County insurance agent has pleaded guilty to stealing more than $429,000 as part of a complex insurance fraud and investment scheme in which he convinced family and friends to invest …
New York Gov. George Pataki announced a two percent decrease in auto insurance premiums for drivers receiving coverage under the New York Assigned Risk Plan, which will reportedly result in lower insurance payments for more than 337,000 New York drivers. …
Rhode Island Gov. Donald Carcieri has vetoed a measure that would have restricted the state’s auto insurers’ ability to encourage the use of lower cost preferred providers for rental cars. The General Assembly approved the amendment to S-2616, the Unfair …
Rhode Island lawmakers have passed a bill to relax regulation of personal lines insurance rates in the state. The House and Senate have approved a flex-rating measure allowing insurers to increase or decrease rates by no more than five percent …
The Pennsylvania Legislature declined to advance a measure that would allow limits on the dollar amount juries can award for pain and suffering in medical malpractice claims. The House voted 107-93 last Friday against an attempt to force the chamber’s …
National Penn Bancshares, Inc. (Nasdaq: NPBC) in Boyertown, Pa., parent company of National Penn Bank, has acquired Pennsurance, Inc. (“Pennsurance”), an insurance agency headquartered in Oley, Pa. Pennsurance was merged into National Penn Bank’s insurance agency subsidiary, FirstService Insurance Agency, …
New York state law does not require disability insurance policies to include the same benefit levels for physical injuries and for disabling mental and emotional conditions, the state’s highest court ruled last week. The Court of Appeals ruled 7-0 that …
A new law signed last week by Pennsylvania Governor Ed Rendell marks the successful conclusion of a multi-year effort to fix problems arising from the Reliance Insurance Company insolvency, according to the American Insurance Association (AIA), which strongly supported enactment …
A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of Odyssey Re Holdings Corp.’s (Odyssey Re) (New York, N.Y.) reinsurance and insurance subsidiaries, which comprise the Odyssey Reinsurance Group. These ratings apply to Odyssey America Reinsurance Corporation …
Maryland Gov. Robert Ehrlich has called on the legislature to pass a medical malpractice reform bill, a day after the state’s largest medical malpractice insurer filed for a 41 percent rate increase in malpractice insurance rates. The governor said Medical …
