The National Association of Insurance Commissioners is losing trust because it at times operates behind closed doors and is not open to dialogue with the insurance industry. That was the criticism of NAIC, as voiced by representatives of the American …
State regulators recently told Congress that more study of the use of credit scoring by insurance companies is needed to determine if the practice is unfairly discriminatory. “As state regulators, it is our sincere desire that the federal government assist, …
Michigan’s Office of Financial and Insurance Regulation (OFIR) Commissioner Ken Ross recently issued an order disapproving a rate filing for Michigan Basic Property and Insurance Association (Michigan Basic), the insurer of last resort for homeowners’ insurance in Michigan. If approved, …
Independent agents in Massachusetts have charged that Progressive Insurance, which began selling auto insurance online in the state May 1, is skirting state regulations and misleading consumers with its Web site quoting program. The Massachusetts Association of Insurance Agents (MAIA) …
Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during March include five license revocations, four license denials, and fines and restitution totaling $130,400. Copies of Geeslin’s orders may be obtained by contacting TDI’s Public Information Office. …
Hull & Co., Big Sky Underwriters, Powers & Co. Hull & Co. Inc. acquired substantially all of the assets of Missoula, Mont.-based Big Sky Underwriters Inc. “The people of Big Sky are well respected in the Northwest marketplace,” said Bob …
ACE, Aon ACE Limited has completed its acquisition of 100 percent of the outstanding shares of Combined Insurance Co. of America and certain of its subsidiaries from Aon Corp. for $2.56 billion in cash. The closing price exceeded the $2.4 …
The Democrat-led Michigan House has passed bills supporters say could make auto insurance more affordable for some Michigan residents. The bills approved on Tuesday would give state regulators power to order refunds if it’s determined that customers have been overcharged. …
Flood Concerns “Within the time constraints available to us, we exhausted our legal options.” —Missouri Attorney General Jay Nixon comments on two lost attempts to stop the U.S. Army Corps of Engineers from beginning its 48-hour release of water into …
Claims management and information firm Mitchell International, Inc. reports it has agreed to acquire the workers compensation medical cost containment and bill review business of Fair Isaac Corp. Mitchell currently supplies the property and casualty claims and auto collision repair …
