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Monday, July 01, 2013

N.Y. Regulator Alleges Some Reinsurance Companies May Have Ties to Iran

Insurance ties to IranNew York's finance regulator is setting his sights on the world's reinsurance companies, alleging some of them may be involved in practices that won't comply with pending U.S. laws against doing business with Iran.

A yearlong probe by Benjamin Lawsky, superintendent of New York's Depart...

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Willis Re: Reinsurers Take Defensive Action, with P&C Rates Down by Up to 25%

WillisReinsurers are taking robust defensive measures to maintain market positions recently eroded by new capital markets entrants, according to reinsurance risk advisor and broker Willis Re, a division of Willis Group Holdings plc.

The Willis Re 1st View 1 July renewals report, entitled Supply Chases Demand, finds that...

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I.I.I.'s Dr. Hartwig Examines First-Quarter 2013 P/C Results

Insurance Information InstituteProfitability in the property/casualty insurance industry rebounded sharply in the first quarter of 2013. The improvement was propelled chiefly by growth in premiums, a reduction in catastrophe losses and favorable prior year reserve development. The effect: the industry combined ratio fell to 94.8...

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Insurance Rates Could Soar Under New Law for the Healthy

Health costsHealthy consumers could see insurance rates double or even triple when they look for individual coverage under the federal health law later this year, while the premiums paid by sicker people are set to become more affordable, according to a Wall Street Journal analysis of coverage to be sold on th...

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New York Restaurant Files Sandy-Related Suit Similar to Trump SoHo Hotel's

power outageA New York restaurant has filed a Hurricane Sandy-related lawsuit against its insurer and Consolidated Edison in a case similar to one filed recently by the Trump SoHo New York hotel.

Koi SoHo is seeking at least $176,500 is business interruption and

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Delaware Governor Markell Signs Workers Compensation Reforms to Address Business Costs

Delaware Workers Comp costsFollowing a review by the Workers' Compensation Task Force, created with the support of Delaware's Governor Jack Markell and led by Lieutenant Governor Matt Denn, the Governor signed House Bill 175 to implement the group's recommendations. The law will place tighter controls on

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