Insurance News

Posts Tagged ‘8216

AUGUSTA, Maine – Motorists, drop those cellphones. And lose the laptops, bag the Big Macs, and nix the newspapers and roadmaps while you?re behind the wheel. It?s now against the law to drive while distracted in Maine.

More than a dozen states have passed laws making texting while driving illegal, and some states and cities have outlawed use of cell phones while driving. A bill in Congress would force states to ban texting or e-mailing Read the rest of this entry »

Fireman?s Fund Insurance Co. will widen sales of hybrid upgrade auto insurance as part of its Prestige Auto Premier policy.

Created to encourage car owners to ?go green,? the new hybrid auto upgrade will allow owners to upgrade to a hybrid model during the first three model-years in the event of a total loss.

According to Novato-based Fireman?s Fund, this option should be ?an attractive choice for those car owners who want Read the rest of this entry »

A proposal ostensibly aimed at ramping up consumer protections for New Jersey insurance consumers would likely lead to higher costs instead, according to the National Association of Mutual Insurance Companies (NAMIC). NAMIC said the measure to expand the state’s “bad faith” law is unnecessary.

S-132, An Act Concerning Unfair Claim Practices in the Settlement of Certain Uninsured and Underinsured Motorist Coverage Claims, would negatively Read the rest of this entry »

INDIANAPOLIS – A set of rules adopted by the National Association of Insurance Commissioners (NAIC) that requires insurance companies to disclose information related to climate change serves mainly to promote the ideological objectives of global warming activists, according to a briefing paper published by the Washington Legal Foundation. The paper, “Mandated ‘Climate Risk’ Disclosure: Turning Professional Activists into Insurance Inspectors,” Read the rest of this entry »

Catastrophe bond issuance activity is not expected to re-visit the record-breaking levels of 2007, but estimates currently put 2009 on track to supplant 2008 as the third-busiest year for cat bonds, according to a brokerage forecast.

The briefing, published by Guy Carpenter & Company, LLC, said three bonds were closed in the first quarter of 2009, equaling 2008’s first-quarter activity. The three bonds followed five months of silence Read the rest of this entry »

INDIANAPOLIS (Feb. 18, 2009) – A proposal to require insurance companies to pay fees and interest to Minnesota claimants who sue is unreasonable, encourages frivolous litigation, and undermines the concept of mutuality, according to the National Association of Mutual Insurance Companies (NAMIC). NAMIC member companies underwrite 55 percent of Minnesota’s automobile insurance business.

The legislation essentially would “automatically Read the rest of this entry »