Insurance News

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WASHINGTON?Insurance industry representatives had mixed reactions last week to the latest Senate financial services regulatory overhaul legislation, applauding some changes but vowing to seek further modifications to distance insurers from some of the proposed regulations.

Senate Banking, Housing and Urban Affairs Committee Chairman Christopher Dodd, D-Conn., un-veiled his latest version last week and said his committee would begin marking Read the rest of this entry »

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NEW YORK ?The insurance industry was the second most fraud-prone industry sector behind communications according to a global economic crime survey released yesterday by PricewaterhouseCoopers.

In a massive wide-ranging report based on information from 3,037 respondents, the consulting firm also found that companies in their efforts to head off crime have more than tripled their use of fraud risk management.

At a news conference Read the rest of this entry »

WASHINGTON —An insurance industry official told a congressional panel that lawmakers must be careful to ensure any expanded federal insurance does not artificially suppress rates or crowd out private carriers.

The remarks from Robert Detlefsen, vice president of public policy for the National Association of Mutual Insurance Companies, were made today at a session on catastrophe insurance issues held by the