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A bill that will allow captive insurers in New Jersey passed both houses and is on its way to Gov. Chris Christie for signing, which is expected to happen this month.
The Florida Senate's Banking and Insurance Committee has weighed in on the sinkhole issue, proposing a set of recommendations for lawmakers when they meet later this year.
American International Group Inc. (AIG) has tentatively agreed to pay $450 million to seven named insurance companies in order to settle a protracted federal civil lawsuit over alleged underreporting of workers' compensation premiums.
In separate but identical filings, seven insurance companies are suing Toyota Motor Corp. to recoup claims paid as a result of accidents related to unintended acceleration problems that led to recalls of some of Toyota's vehicles.
The 2011 merger and acquisition spree continued with the recent announcements of six agencies acquired by four major insurance brokerage firms, with Marsh & McLennan Agencies scoring the largest of the lot.
Emphasizing the need for a new approach to state government, New York's new governor is seeking a radical realignment of the way the state does business, including folding the Department of Insurance in with two other agencies.
Earthquakes in 2010 caused insured losses exceeding $10 billion, and the industry as well as governments around the world must take action to prepare for future quakes, according to a new report from catastrophe modeler EQECAT.
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