Insurers are defending the factors they use in pricing auto insurance, including the occupation and education levels of insureds, arguing that the criteria have been actuarially tested for their ability to predict losses. When they are allowed to use what …
High-profile crackdowns on auto insurance fraud have resulted in dramatic savings for drivers in some Massachusetts communities. The statewide average premium is scheduled to drop by nearly 12 percent on April 1, but drivers in some communities where antifraud task …
High-profile crackdowns on auto insurance fraud have resulted in dramatic savings for drivers in some Massachusetts communities. The statewide average premium is scheduled to drop by nearly 12 percent on April 1, but drivers in some communities where antifraud task …
Marsh, Putnam Marsh & McLennan Companies Inc. (MMC) announced that Great-West Lifeco Inc., a financial services holding company controlled by Canada-based Power Financial Corp., has agreed to purchase Putnam Investments. The sale price is $3.9 billion in cash, subject to …
Goldman Sachs, USI Holdings Big insurance broker USI Holdings Corp. headquartered in Briarcliff Manor, N.Y., agreed to be acquired by GS Capital Partners, a private equity affiliate of Goldman, Sachs & Co., in a transaction valued at approximately $1.4 billion, …
Aon, Footman James Chicago-based Aon Corp. completed the acquisition of Footman James from Alchemy Partners Ltd. based in Guernsey. Terms of the transaction were not disclosed. The transaction will have no effect on existing policies, and client service will continue …
In Florida, it literally pays to have a high school diploma and a post secondary education – to the disapproval of Insurance Commissioner Kevin McCarty. The use of occupation and education as underwriting factors by insurance companies concerns McCarty. He …
Bad Faith (Mo. App. Jan. 4, 2007) Ruling: Attorneys fees were awarded under Missouri’s “Vexatious Refusal to Pay” statute. Insured brought suit against insurer for denial of homeowners coverage. In addition to an award for insured’s loss, the jury awarded …
Massachusetts Gov. Deval Patrick has taken steps to install his own appointee as insurance commissioner and halted the ongoing implementation of reforms to the state’s auto insurance high risk pool championed by the regulator he is replacing. Patrick said he …
Mass. Gov. Patrick replaces commissioner; halts high risk plan Massachusetts Gov. Deval Patrick has taken steps to install his own appointee as insurance commissioner and halted the ongoing implementation of reforms to the state’s auto insurance high risk pool championed …
