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The Insurance Policy

BP Claims Could Exceed $20 Billion, Says Fund Chief Feinberg

The $20 billion fund set up to help compensate victims of BP Plc's devastating Gulf of Mexico spill does not prevent future lawsuits against the company that exceed that amount, the fund's ...
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Louisiana Citizens Enacts Binding Restrictions in Advance of TS Bonnie

The Louisiana Citizens Property Insurance Corp. has announced that as a result of Tropical Storm Bonnie, personal lines binding restrictions are in effect for following parishes: Acadia, ...
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Florida Braces for Tropical Storm Bonnie

Tropical Storm Bonnie barreled toward south Florida Friday on a track that was expected to take it over the site of BP Plc's massive oil spill in the energy-rich Gulf of Mexico by Saturday ...
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Second Indictment Charges Maryland Broker with $2.5M Theft

A New Jersey grand jury has indicted a Maryland insurance broker, his companies and an accomplice on charges they conspired to steal $2.5 million from the Perth Amboy school system, the state's ...
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Weather Claims Erode Travelers Profits

Weather-related claims of nearly $440 million dragged down profits by 9 percent at Travelers, which reported second quarter net income of $670 million, down from the $740 million the insurer ...
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Nationwide Insurance Provides 'Bait Vehicles' in Houston

Nationwide Insurance presented the Houston Police Department, the Harris County Sheriff's Department, and the Webster Police Department with a bait vehicle each to assist with their respective ...
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Indiana Police Pose as Crooked Car Dealers to Nab Thieves

Northwest Indiana authorities say a nine-month sting targeting car thieves attracted 20 men and women who sold undercover police 70 vehicles valued at more than $510,000. Lake County Sheriff Roy ...
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Percentage Using Safety Belts Reaches Record Level in Illinois

The percentage of Illinois motorists using safety belts has reached a record of more than 92 percent. Illinois Transportation Secretary Gary Hannig says traffic deaths in the first six months of ...
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Pennsylvania Arsonist Pleads Guilty

A suburban Philadelphia man who authorities say tried to pass himself off as a firefighter has pleaded guilty to intentionally setting a fire at a diner. Twenty-one-year-old Mark Gilliam, of West ...
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Ratings Roundup: RMA Residential, Dorinco, NAICO

A.M. Best Co. has placed under review with negative implications the financial strength rating of 'A-' (Excellent) and issuer credit rating of "a-" of Risk Management Association of Illinois-based ...
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S&P's Ratings on AIG Unchanged by New Board Chairman

Standard & Poor's Ratings Services said today that its ratings on American International Group (AIG; A-/Negative/A-1) and AIG's insurance subsidiaries (most of which are rated A+/Negative/--) ...
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S&P Comments on Dodd-Frank Act's Implications for Insurers

A comment from Standard & Poor's Ratings Services notes that the Dodd-Frank Wall Street Reform and Consumer Protection Act "seeks to expand regulation to address many aspects of the financial ...
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Best Comments on Impact of Dodd-Frank Act on Rating Agencies

The recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act has specific provisions applicable to rating agencies. A comment on the Act's potential impact from A.M. Best notes ...
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Army Corps Report Claims Actions Reduced Tennessee Flooding

The U.S. Army Corps of Engineers has concluded its actions during the May floods reduced the Cumberland River's flood crest in Nashville by 5 feet, but the agency suffered numerous communications ...
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House Approves Oil Spill Clean-Up, Drilling Safety Bill

The House passed legislation this week that promotes new ways to clean up oil spills and aims to make deepwater drilling safer. The two measures responding to the BP oil spill in the Gulf of ...
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