Gov. Dannel P. Malloy is asking President Barack Obama to issue a major disaster declaration for Connecticut following last month’s freak October snow storm that left hundreds of thousands without power for days. Such a declaration would bring more federal …
State lawmakers want to learn more about how the insurance industry responded to the two recent storms to hit Connecticut — the remnants of Hurricane Irene and the October nor’easter. The legislature’s Insurance and Real Estate Committee has scheduled an …
Some of the thousands of Connecticut residents still in the dark Monday may not have power restored until mid-week, more than 10 days after a monster snowstorm knocked out electricity to millions of people in the Northeast. About 57,000 Connecticut …
Insurance broker William Gallagher Associates Inc. will pay $1.7 million as a settlement with Connecticut regulators over allegations that it overcharged a client. The state regulators accused the Massachusetts-based broker of overcharging a local business, Milford Power Company, millions of …
State Farm Insurance says U.S. Senator Richard Blumenthal’s request that the company drop Irene-related hurricane deductibles in Connecticut would actually be unfair to policyholders and introduce all sorts of uncertainty. State Farm — the largest U.S. insurer of homes and …
Connecticut insurance regulators are working on revising hurricane deductible rules in the wake of tropical storm Irene. The insurance department spokesperson told Insurance Journal that the new rules under consideration focus exclusively on wind speeds measured within the state. Whether …
U.S. Senator Richard Blumenthal (D-Conn.) called on State Farm Insurance to drop its hurricane deductible for Connecticut residences whose homes were damaged by Tropical Storm Irene. Blumenthal was joined at his Hartford press conference on Tuesday, Oct. 11, by Elizabeth …
Greenwich, Conn.-based insurer W. R. Berkley Corp. is estimating Q3 catastrophe losses in the range of $50 million to $60 million, before tax. The loss estimate is net of reinsurance recoveries and is inclusive of reinstatement premiums. The company is …
The protest movement that began with anti-corporate greed rallies on Wall Street has made its way to Hartford. The “Occupy Hartford” demonstrators camped out this past weekend at the corner of Broad Street and Farmington Avenue. Several dozen people kicked …
At an investor meeting on Oct. 6, The Hartford Financial Services said the company has “significantly enhanced” its financial risk management and believes its balance sheet is strong. The company also announced it is forecasting $200 catastrophe losses, pre-tax, for …
