News

The New York Insurance Department has issued a legal ruling that with certain restrictions a property and casualty insurer can pay claims by issuing prepaid debit cards rather than checks if the claimant agrees.

A 50-year-old Lancaster, Ohio man set fire to his rented home to collect insurance money but failed to ponder the toll this would have on his family.

Arthur J. Gallagher & Co. said it has named Scott R. Hudson president and chief executive officer of Gallagher Bassett Services Inc.

XL Capital said it plans to re-domesticate to Ireland, and Zurich Financial Services Group has transferred business from Italy, Portugal and Spain to local branches of its EU-based risk carrier, Zurich Insurance plc, also based in Ireland.

Pricing in the soft commercial insurance market won't turn around for another two years, at least, thanks to a variety of factors, the head of Arch Worldwide Insurance Group predicts.

The Insurance Information Institute said a recent NU Online report should not have linked I.I.I. President Robert Hartwig to possible solutions for a halt in New York no-fault claim costs.