The Michigan Legislature has passed a bill limiting insurer exposure under the Standard Fire Policy Act and sent it to the governor, whose signature is urged, according to the Alliance of American Insurers. Under the bill, HB 4432, commercial property/casualty …
This month marks the 50th anniversary of the founding of E.G. Bowman Company, Inc. by Ernesta G. Procope, who set up her storefront insurance agency in Brooklyn’s Bedford-Stuyvesant neighborhood in 1953. The company’s announcement marking the event noted that “the …
The Professional Insurance Agents of New York State Inc. met with representatives of New York Central Mutual Insurance Co. on May 22, as part of its continuing “Company Outreach Program.” The discussion topics included the need to get tougher on …
The Hartford Financial Services Group, Inc. has released a bulletin indicating that the public offerings, announced on May 14, have been completed, raising gross proceeds of approximately $1.95 billion. “About $1.1 billion of the funds were raised from 24.2 million …
Floridians for Quality Affordable Healthcare released a report concluding that $250,000 cap on non-economic damages in medical malpractice cases would have saved 25 percent of nearly $1.2 billion in malpractice settlements and awards paid in Florida in just three years. …
Pennsylvania Insurance Commissioner Diane Koken, in her capacity as the state regulator for the industry, released the results of the Private Passenger Automobile Underwriting Guidelines review conducted by the Department’s Market Conduct Division. “On August 16, 2002, the Market Conduct …
The National Association of Independent Insurers has issued a statement indicating that proposed legislation in New York that would require the Department of Health to conduct a comprehensive study on the health risks of mold and impose assessment and testing …
A bulletin from the Professional Insurance Agents of New York noted that the New York Property Insurance Underwriting Association has now been closed down for new business for 20 days, equaling its previous record shut-down in 1997. (See IJ Website …
Nassau District Attorney Denis Dillon, the New York State Insurance Department, the State Insurance Fund and the Inspector General of the Workers’ Compensation Board jointly announced the arrest of six individuals for insurance fraud resulting in the theft of thousands …
Benfield [formerly Benfield Blanch], a leading global reinsurance intermediary, announced the appointment of Kevin Markowski as branch manager of its New York office. “Mr. Markowski has been a leading force in the insurance/reinsurance industry for over 31 years. His experience …
