News

Massachusetts Attorney General Martha Coakley is urging the state insurance commissioner to act promptly to cut commercial-auto insurance rates in the state.

Many of the states hammered by what's already the deadliest year for tornadoes in more than half a century have among the nation's highest rates of homes without hazard insurance despite being among the most twister-prone.

Nearly two-thirds of U.S. and Canadian consumers are planning to renew or purchase insurance products through an agent in the next 12 months, according to a survey from Accenture.

Insurers are strongly objecting to a proposed regulation that would require officials of an insurance company being liquidated by Federal Deposit Insurance Corp. to prove that they were not responsible for the company’s failure and therefore liable for damages.

Moody’s Investors Service has changed PartnerRe Ltd.’s outlook to negative from stable due to the company’s “outsized” first-quarter catastrophe losses relative to its peers.

State Farm spokesman John Wiscaver has been with the company for 23 years and calls the damage caused by a tornado in Joplin, Mo., “as bad as I have ever seen.”