state insurance department

• MBIA, Bank of America Reach Legal Settlement: Sources

  By Karen Freifeld, Reuters  |  May 6, 2013

  Bond insurer MBIA Inc and Bank of America Corp have reached a settlement in an ongoing legal dispute, and BofA will pay MBIA $1.6 billion, sources familiar with the matter said on Monday.

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  NJ Insurance Commissioner: No Post-Sandy Availability Issues

  By Chad Hemenway, PropertyCasualty360.com  |  April 29, 2013

  There are no availability issues in New Jersey following Superstorm Sandy, says Insurance Commissioner Kenneth E. Koblyowski.

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  VIDEO: Singer Amy Grant Appears in NAIC Spot

  By Staff Writer  |  April 10, 2013

  The lessons Grammy-winning singer-songwriter Amy Grant learned caring for her mother and now her aging father are the focus of a new television public service announcement for the National Association of Insurance Commissioners.

• Illinois Bucks Trend in Other States; Looks to Establish Competitive Workers' Comp State Fund

  By Arthur D. Postal, PropertyCasualty360.com  |  March 15, 2013

  Illinois state legislators are running counter to a national trend by proposing creation of a state workers’ compensation insurance fund that would compete with the private system.

• Texas Bills Would Sever Remaining State Controls over TMIC

  By Arthur D. Postal, PropertyCasualty360.com  |  March 4, 2013

  The Texas Legislature introduced bills last week that would sever the last controls the state has over Texas Mutual Insurance Co.—its largest workers’-compensation insurer—while authorizing the state to set up an assigned-risk plan.

• Certain Uncertainty

  By Louie Castoria, Fred Pomerantz  |  December 1, 2012

  NRRA gaps and inconsistent state laws leave surplus lines brokers in limbo.

• State Farm Faces Claims-Handling Probe in Texas

  By Chad Hemenway, PropertyCasualty360.com  |  September 12, 2012

  State Farm’s claims-handling following 2008’s Hurricane Ike is being investigated by authorities inTexas, and at least one legislator is asking the state insurance department to look into the matter as well.

• CFA's Hunter Looks Back on Andrew, Katrina, and Broken Industry Promises

  By J. Robert Hunter  |  September 4, 2012

  As I watched coverage of the flooding caused by Hurricane Isaac in New Orleans this past week, I could not help but recall the Category 5 storm which struck Florida 20 years ago that forever changed not only the lives of citizens impacted by the storm, but also the entire...

• AIG Settles Workers’ Comp Dispute With All 50 States

  By Phil Gusman, PropertyCasualty360.com, Chad Hemenway, PropertyCasualty360.com  |  June 11, 2012

  American International Group will pay a total of $146.5 million to be distributed among all 50 states following a probe that sought to determine whether the insurer violated premium-reporting rules governing Workers’ Compensation insurance.

• Judge Denies MBIA Demand for Information from Banks

  By Reuters  |  May 23, 2012

  Banks challenging bond insurer MBIA Inc's 2009 restructuring don't have to answer questions about whether they pushed state senators to start an investigation, a New York judge ruled on Tuesday.

• BofA Tells Judge MBIA Split Must Be Annulled

  By Karen Freifeld, Reuters  |  May 16, 2012

  Bond insurer MBIA Inc's restructuring during the financial crisis must be annulled because it was based on bad information, a lawyer for banks challenging the restructuring said on Tuesday.

• Banks Set to Argue MBIA Split Was Unreasonable

  By Karen Freifeld, Reuters  |  May 15, 2012

  Bank of America Corp and Societe Generale on Tuesday will begin opening arguments in a New York State courtroom to overturn the 2009 restructuring of bond insurer MBIA Inc.

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  The Week in Quotes

  By Staff Writers  |  March 30, 2012

  Industry leaders have a lot to say. PC360 brings our readers the top quotes from major industry players for the week of March 26.

• Allstate Seeks Rate Increase in Louisiana

  By Alan Sayre, Associated Press  |  January 24, 2012

  Allstate Corp. is asking to raise rates for 144,000 Louisiana homeowners who get their insurance coverage from two Allstate companies.

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  Nebraska Bows Out of NIMA

  By Arthur D. Postal, PropertyCasualty360.com  |  January 12, 2012

  Nebraska has dropped out of the Nonadmitted Insurance Multistate Agreement, or NIMA, the compact for parceling out surplus line premiums to the appropriate state supported by the National Association of Insurance Commissioners.

• N.C. Commissioner Goodwin Decreases Dwelling Fire Rates

  By Staff Writer  |  December 13, 2011

  North Carolina Insurance Wayne Goodwin has denied a request by the North Carolina Rate Bureau for a statewide average 36.1 percent for dwelling extended coveage policies and issued a rate decrease for dwelling fire policies.