Going into the peak time of the year for hurricane development, Texas’ property insurance company of last resort in coastal areas has around $800 million in available cash to immediately handle claims in the event a storm hits the state’s …
West Virginia employers can look forward to another reduction in their workers’ compensation rates after state officials welcomed a National Council on Compensation proposed statewide average 9.1 percent decrease in loss cost rates. Ever since West Virginia moved from operating …
Kansas insurance regulators are complying with part of the federal health insurance reform law that requires more scrutiny of health insurance rate increases above 10 percent at a time when Gov. Sam Brownback’s administration is strongly opposing other provisions of …
Officials of Florida’s state policyholders-backed insurer turned away from several controversial plans that would have raised rates on new policies above current policyholder rates and implemented a cap on water damage, instead adhering to its statutory caps on rate increases. …
“Rate increases in the North American and International reinsurance markets are due to modest losses and poor results – not a hardening market,” according to a newly release report from Willis Re, the reinsurance arm of Willis Group Holdings. The …
On the heels of the decision by the U.S. Federal Reserve to maintain the target fed funds rate at zero to 25 basis points Swiss Re’s Chief Economist, Kurt Karl, commented: “The US economy has been weak recently, but is …
A last-minute provision added to legislation headed to the governor’s desk will give some relief to coastal property owners who get insurance through Louisiana’s state-run insurer of last resort. The compromise language was devised by lawmakers seeking to lessen the …
The Ohio Bureau of Workers’ Compensation (BWC) in late May announced an extension of the $65 million in rate cuts enacted last year for Ohio’s private sector employers to the 2013 policy year that begins July 1. BWC’s board of …
Louisiana Citizens Property Insurance Corp. plans an average rate increase for wind-only policies of 58 percent, sparking an argument among top state officials on whether the increase is legal. The Advocate reports that the large increase follows a May 23 …
The Louisiana Department of Insurance has approved changes to the property insurance rate levels for personal lines policies written by Louisiana Citizens Property Insurance Corp. The approved rate changes are applicable to all new business and renewal policies effective June …
