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A Pennsylvanian state legislator introduced a bill to stop insurers from using credit scores to help determine how much customers pay for car insurance.    “It’s a tool the insurance industry can use to hurt you in so many ways,” said state Rep. Jesse White, D-Washington County, who introduced the bill this month. He also… Continue reading PA Legislature Introduces Bill to Block Use of Credit Scores by Carriers

Aon Corp recently applied for a license to operate from the Qatar Financial Centre Regulatory Authority and expects to open an office there later this year.    “The Middle East and in particular Qatar will be one of the fastest-growing regions in the world over the next few years,” said Roelof Hendriks, chief executive officer… Continue reading AON to Enter Qatar

After a review by a special litigation committee, NY-based AIG decided to take over the case that initially stemmed from company shareholders against former Chairman and Chief Executive Officer Maurice R. Greenberg and former Chief Financial Officer Howard I. Smith for losses to AIG caused by their alleged wrongdoing. The suit seeks more than $1… Continue reading AIG Takes Over Lawsuit Against Greenberg and Smith

The PIA in a press release on its website criticized RIMS’ earlier public statement that it was “disappointed” to learn some insurance brokers were reevaluating their pledge to refuse to accept certain forms of contingency fee arrangements with insurers. “In response to regulatory matters and settlement agreements, many brokers pledged to refuse to accept placement… Continue reading PIA Criticizes RIMS’ Statement on Contingency Fees

The gap in health coverage from state to state varies tremendously, according to a new study conducted by a private foundation, The Commonwealth Fund. The report ranked states on 32 indicators grouped into five categories: access, quality, potentially avoidable use of hospitals and costs of care, equity, and ability to live long and healthy lives.… Continue reading Health Coverage All Over the Map

The Big I on Tuesday testified before the House Subcommittee on Housing and Community Opportunity supporting the Flood Insurance Reform and Modernization (FIRM) Act of 2007, H.R. 1682. Tom Minkler, president of New Hampshire-based Clark-Mortenson Agency, represented the Big I at the hearing to review the legislation designed to modernize and reform the existing flood… Continue reading Flood Insurance on Everyone’s Mind: IIAA Supports House Committee in its Review

Yesterday it was announced that the Property Casualty Insurers Association (PCI) supports Florida CFO Alex Sink’s proposal to streamline the process for Floridians to qualify for insurance premium discounts after taking measures to mitigate hurricane damage. This is another move in the hurricane-prone Eastern coastal areas to reach out to those directly affected by the… Continue reading PCI Backs CFO Proposal to Streamline “My Safe Florida Home Program”

Two federal officials, Matt Jadacki, deputy inspector general for the Department of Homeland Security, or Orice Williams, director of financial markets and community investment for the U.S. Government Accountability Office, testified on Tuesday that the federal flood insurance program lacks a system to coordinate benefits with private policies. As a result the program often relies… Continue reading Lack of Data in Flood Program Inhibits Insurance Analysis

Louisiana Also Looking at Tax Breaks for HomeownersLawmakers in the Louisiana have passed two measures designed to offset the increasing costs of homeowners insurance, including one that would grant a state income tax deduction for a portion of the higher premiums. The House Ways and Means Committee amended and then approved House Bill 708 by… Continue reading Louisiana Also Looking at Tax Breaks for Homeowners

A bill signed into law on Monday has resulted in South Carolina homeowners, particularly those living on the coast, being eligible for grants and tax credits should they implement measures necessary to make their homes more wind-resistant. Gov. Mark Sanford and a group of lawmakers gathered at the Myrtle Beach Area Chamber of Commerce for… Continue reading Bill Signed in Hurricane-Prone Myrtle Beach to Grant Relief to Homeowners