Claims

Another chapter has closed on the contingent commission kickback saga with an agreement reached between nine insurers and insurance brokers and clients who alleged the industry tried to manipulate the business.

U.S. Senators Barbara Boxer and Dianne Feinstein have introduced a bill that would authorize the U.S. Department of the Treasury to guarantee up to $5 billion in bonds available to certified public entities like the California Earthquake Authority following a “mega-catastrophe.”

Railroad operator Norfolk Southern says it will record an expense of at least $58 million from a 2005 derailment after an arbitration panel ruled against it regarding an insurance claim.

By managing expert services, an insurer can realize cost savings and enhanced operational efficiencies while expediting the claimant's return to normalcy.

By managing expert services, an insurer can realize cost savings and enhanced operational efficiencies while expediting the claimant's return to normalcy.

While the Obama administration and several conservative organizations oppose climate litigation, feeling that the elected branches are better positioned to provide a sustainable national energy strategy, the U.S. Supreme Court will have its chance to make a mark on the discussion beginning in April.

Commercial property and casualty insurers could take the biggest hit both in losses and credit worthiness from the earthquake in Japan, according to a Moody’s report.

Troubled New York-based bond insurer Ambac Financial Group said its Wisconsin subsidiary, Ambac Assurance, will begin paying policy claims out of its segregated account in May.