State Farm to Pay $352.5M to Settle Long-Running Texas Overcharge Case

Posts From the monthly archives: "February 2015"

By Stephanie K. Jones A settlement has been reached in a long-running dispute between the nation’s largest homeowners insurer and the state of Texas over premium overcharges. The Texas Office of Public Insurance Counsel (OPIC) announced Feb. 27 that a settlement had been reached … The article State Farm to Pay $352.5M to…(Read More)

Robert Benmosche, the combative former chief executive officer of American International Group Inc. who led the insurer, once the world’s largest, to repay a $182.3 billion taxpayer bailout, has died. He was 70. He died on Friday at NYU Langone … The article Former AIG, MetLife Leader Benmosche Dies at 70 appeared first on…(Read More)

The federal government is sending $116 million to New York City to compensate for funds spent in a program that made flooded homes habitable after Superstorm Sandy. Sens. Charles Schumer and Kirsten Gillibrand were joined by New York City Mayor … The article NYC Gets $116M Reimbursement for Sandy-Related Fixes appeared first on Insurance Journal…(Read More)

Liberty International Underwriters has added five risk engineers to its U.S. and Latin America risk engineering team to focus on energy-related opportunities and civil construction projects in response to the resurgence in America’s energy industry and continued energy growth anticipated … The article LIU Adds Underwriters to Risk Engineering Team appeared first on…(Read More)

The appointment of David Mattax as Texas Insurance Commissioner has been confirmed by the Texas Senate, the insurance department reported. Mattax was appointed to the job by Gov. Greg Abbott on Jan. 21. He was appointed earlier in January by … The article Mattax Confirmed as Texas Insurance Commissioner appeared first on Insurance Journal. Read…(Read More)

About two-thirds of insurance carriers expect to hire more employees this year, a new survey finds, According to the semi-annual U.S. Insurance Labor Outlook Study conducted by The Jacobson Group and Ward Group, 66 percent of all insurance companies intend … The article Insurance Carriers Plan Increased Hiring in 2015: Survey appeared first…(Read More)

The proposed acquisition of Brit plc by Fairfax Financial Holdings is “credit positive” for Fairfax, according to Moody’s, which noted that the deal will significantly boost Fairfax’s underwriting capacity at Lloyd’s in a recently published report. Also citing the benefits … The article Fairfax Financial to Benefit From its Acquisition of Brit plc…(Read More)

China is weighing a far-reaching counter-terrorism law that would require technology firms to hand over encryption keys and install security “backdoors,” a potential escalation of what some firms view as the increasingly onerous terms of doing business in the world’s … The article China’s Draft Counter-Terrorism Law Alarms Foreign Technology Firms…(Read More)

Millions of people could lose health insurance subsidies in the coming months if the Supreme Court sides with opponents of President Barack Obama’s health care overhaul. And one thing was clear last weekend as the nation’s governors gathered in Washington: … The article States Have No Plans If Health Insurance Subsidies End appeared first…(Read More)

Stewart Information Services Corp. is being targeted by activist Phil Goldstein, who is urging a sale of the property title insurer and seeking control of its board. Goldstein’s Bulldog Investors has amassed more than 5 percent of Stewart Information and … The article Activist Goldstein Urges Title Insurer Stewart to Sell appeared first on Insurance…(Read More)

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