A trust formed to handle Chinese drywall damage claims for over 700 homeowners has filed a federal lawsuit against 14 insurers, seeking indemnification for their losses.
A lawsuit has been filed against 14 insurers that seeks indemnification for losses and breach of contract arising from claims for the development and sale of homes allegedly containing defective Chinese manufactured drywall.
The head of MarketScout, the electronic insurance exchange, said the firm's composite rate index for property and casualty insurance was down 4 percent at the close of calendar-year 2009, but he predicted an upswing for this year.
The hardening market predicted to arrive by the end of 2009 failed to materialize for insurers writing services industry risks as competition remains fierce, forcing carriers to cut the prices on their coverage menus.
Small business owners and retailers urged Congress and the credit card companies to reform interchange fees in order to enhance merchants' ability to hire new employees. Based on the national average salary for cashiers.