Oct 6, 2008
Karen Clark created the first computer model to help insurers better gauge the losses they might face after a major catastrophe. Now she is working with insurers to use the models more wisely. BY BEATRICE E. GARCIAMiami Herald–October 6, 2008 …
Oct 6, 2008
To view a complete story, click on a headline below: Hurricane fund crisis could put homeowners at risk When Florida lawmakers expanded the state’s hurricane fund in 2007 to force lower premiums, they tied the ability to deliver billions in …
Oct 6, 2008
The following insurance-related administrative actions were posted on Friday, October 3, 2008. Final Property/Casualty Insurance Rules: 69J-7.007: Grants – Medical Condition Exception Notice of Rulemaking Development: Florida Division of Insurance Agents and Agency Services The Florida Department of Financial Services, …
Oct 6, 2008
The first meeting of the Citizens Property Insurance Corporation (“Citizens”) Mission Review Task Force (“Task Force”) has been scheduled to take place on Friday, October 10 at the Tampa Airport Marriott and via teleconference. Agenda items include: Sunshine Law Overview …
Oct 6, 2008
The Reserve Primary Fund (“Fund”), a money-market mutual fund, “broke the buck” in mid-September when it fell below $1 a share in net asset value. This was due in large part to its losses on debt issued by Lehman Brothers …
Oct 6, 2008
Insurance-Related Meetings: Month of October, 2008 Week of October 6-10 Monday, October 6 NAIC The National Association of Insurance Commissioners (“NAIC”) held a regulator-to-regulator meeting of the International Solvency and Accounting Working Group on Monday, October 6 at 11:00 a.m. …
Oct 3, 2008
The Florida Workers’ Compensation Insurance Guaranty Association (“FWCIGA”) recently held a Board of Directors (“Board”) meeting to receive updates on legal issues, claims, financial issues, and assessments for 2009. The meeting was called to order by Chairman Tom Stahl, with …
Oct 3, 2008
To view a complete story, click on a headline below: State Farm lowers auto rates 0.3 percent State Farm Mutual Automobile Insurance said Friday it would reduce its auto rates by 0.3 percent on new and renewal policies, effective Oct. …
Oct 2, 2008
Gainesville Sun–October 1, 2008 The Associated Press In the wake of criticism by key lawmakers, the state-backed property and casualty insurer, Citizens, is backing off plans to seek a new, larger office complex that once included a gymnasium, cafeteria and …
Oct 2, 2008
Insurance Journal–October 2, 2008 The Main Street America Group, based in Jacksonville, Fla., completed its acquisition of Great Lakes Casualty Insurance Co., a Michigan-domiciled private passenger auto insurance carrier, from Newco Financial Holdings Inc. All Great Lakes personnel have become …