Author: Farkas Laura

A leader in measuring the digital world, comScore, recently released the results of a study of online servicing of auto insurance policies, revealing that e-servicing activity climbed 15 percent in the second quarter of 2007, more than twice the rate of growth in total visits to the auto insurer sites included in the analysis.   … Continue reading E-Servicing Activity on Auto Insurance Sites Up 15%

According to an article in the “Wall Street Journal” today, the mortgage market downturn has yet to affect one type of home loan — that extended to illegal immigrants. Known as ITIN mortgages because applicants must have an individual taxpayer identification number, the fixed-rate loans are designed for immigrants who can prove they are creditworthy… Continue reading Mortgages for Illegal Immigrants Yet to be Affected by Downturn in Market

According to a survey of local governments released by ICMA (International City/County Management Association), a premier local government leadership and management organization, and sponsored by leading employee benefits carrier, CIGNA, although rising health care costs are a primary concern among America’s local governments, most jurisdictions do not offer preventive and disease management programs targeting their… Continue reading Local Governments, Cities to Focus on Health Care Risks, Costs

A subsidiary of Marsh & McLennan Cos. Guy Carpenter & Co., was hit with a lawsuit by Connecticut’s Attorney General Richard Blumenthal, claiming the reinsurance broker violated Connecticut’s antitrust and unfair trade practices acts and essentially increased rates for consumers.    In a state lawsuit, the attorney general accuses Guy Carpenter & Co. of conspiring… Continue reading Connecticut Hits Marsh & McLennan Subsidiary with Antitrust Suit

OneBeacon Insurance Group today announced a new solution that makes affordable Employment Practices Liability insurance available to businesses with 50 or fewer employees. Employment Practices Liability insurance covers employers for allegations of wrongful termination, discrimination or harassment, including sexual harassment. It pays for liability damages and defense costs (within the liability limit) due to claims… Continue reading OneBeacon Announces New Employee Practices Liability Solution for Small Businesses

According to a report released on Friday by MarketScout, the Dallas-based electronic insurance exchange, Commercial property/casualty insurance rates fell an average 15% in September from those in 2006.    The report states that rates dropped in every line of business, and ranged from a decline of 17% for commercial property to 6% for surety. Rates… Continue reading P/C Rates Continue to Fall

A bill signed on Friday by Governor Arnold Schwarzenegger could result in higher premiums for the more than 760,000 California homeowners who buy earthquake insurance through a state-run authority. However, the measure’s supporters say that without the legislation, homeowners could be hit with even bigger rate increases. The measure by Senator Mike Machado, D-Linden, creates… Continue reading CA Bill Could See Earthquake Premiums Rise

The London arm of New York-based brokerage Marsh Inc. has launched a property facility for companies in the United States and Canada.    The facility provides $425 million of non-catastrophe cover and can be adapted to provide up to $262.5 million of non-critical catastrophe cover. The facility can also be used as quota share capacity… Continue reading Marsh Launches Property Facility

Health Secretary Mike Leavitt expressed hope Sunday on ABC’s “This Week” for a deal with the Democratic-run Congress on expanding children’s health insurance even as House speaker Nancy Pelosi worked on getting enough Republicans to override President Bush’s veto of legislation passed last week for increase spending and expansion of the State Children’s Health Insurance… Continue reading Administration Looking to Work Out a Deal with Dems on SCHIP amid Efforts to Override Veto

On Friday the Florida House and Senate adopted legislation to re-enact the state’s automobile no-fault law, in addition to approving reforms that should cut costs and reduce litigation and fraud in the PIP system. Under the bill as passed, the transition back to no-fault will happen in one step: as of January 1, 2008, all… Continue reading FL to Restore State’s Auto No-Fault