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Posts Tagged ‘warns

Texas Insurance Commissioner Mike Geeslin has released a bulletin reminding auto insurance providers that it is against state law to “directly or indirectly limit the insurer’s coverage under a policy covering damage to a motor vehicle.”

Specifically, the Texas Insurance Code states that insurers may not specify “the brand, type, kind, age, vendor, supplier, or condition of parts or products that may be used to repair the vehicle;” or limit Read the rest of this entry »

With the prospect of nearly $2 billion in professional liability claim payments looming from the litigation fallout of a Ponzi scheme orchestrated by Bernard Madoff, directors and officers insurers were eager to pinpoint potential sources of exposure during a recent industry gathering.

?It?s certainly going to have an impact on [insurers?] underwriting procedures,? said Stephen Mildenhall, head of Aon Benfield’s Actuarial and Enterprise Read the rest of this entry »