Claims / Legal
Top 10 Market Conduct Complaints Against P/C Insurers
Failure to handle claims within specified time frames and using unapproved forms and rates are the top two criticisms of property/casualty insurers by market conduct regulators, according to a new ...
Downgrade of Tower Group to B++ Likely to Have Further Negative Effects: A.M. Best
A.M. Best Co. announced Tuesday that the rating agency has downgraded the financial strength rating of members of Tower Group to B++ (Good) from A- (Excellent), one day after the company itself ...
Will Biggert-Waters Save the Flood Insurance Program? No, It’s Not Even Close
The Biggert-Waters Flood Insurance Reform Act (Biggert-Waters) was enacted in 2012 with the goal of reforming and thereby saving the National Flood Insurance Program (NFIP). It is a well-meaning and ...
Stanford Case Triggers Supreme Court Clash Over Securities Laws
The U.S. Supreme Court debated the reach of the federal securities laws, questioning whether investors can sue law firms and outside companies for their alleged roles in R. Allen Stanford's $7 ...
Tower Reserve Charge Prompts Fitch Downgrade, Carrier Review of Options
Tower Group International, Ltd. announced reserve and goodwill charges representing over 60 percent of year-end 2012 shareholder's equity Monday, prompting Fitch Ratings to cut the financial strength ...Gulf Workers Return to Offshore Platforms as Karen Weakens
BP Plc, Enbridge Inc. and other companies returned workers to production platforms Sunday after Tropical Storm Karen was downgraded to a depression and passed by offshore assets on its way toward the ...
New York Ranks No. 2 Behind Calif. for Questionable Workers Comp Claims
New York is second in the nation, only behind California, for questionable workers compensation insurance claims. New York jumped to second in 2012 from fifth in 2011, the New York Insurance ...
Adobe Says Source Code, Customer Data Stolen By Hackers
Adobe Systems Inc. said on Thursday that hackers had stolen source code to some of its most popular software and data about millions of its customers. Security experts worry about the theft of source ...