Will your home insurance cover it? The answer is yes, because the industry classifies tornadoes as every-day windstorms, rather than singular catastrophic events like earthquakes or floods. Your basic homeowner policy should cover costs to repair damage from a tornado, according to the Property Casualty Insurers Association of America.
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AM Best has placed under review with developing implications the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb” of Noor Takaful General PJSC. Concurrently, AM Best has withdrawn these Credit Ratings as the company has requested to no longer participate in AM Best’ s interactive rating process. Whilst AM Best expects NTG’ s…
AM Best has placed under review with developing implications the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb” of Noor Takaful Family PJSC. Concurrently, AM Best has withdrawn these Credit Ratings as the company has requested to no longer participate in AM Best’ s interactive rating process. The business combination with Dar Al…
–Evofem Biosciences, Inc., today presented data at the Academy of Managed Care Pharmacy annual meeting showing EVO100 provided a significant decrease in gonorrhea and chlamydia infections in women as well as additional patient health outcomes related to satisfaction with use of the investigational product. "Findings from these analyses demonstrate the…
Two new research reports designed to guide the insurance industry toward proactive, quantitative solutions to identify, measure and address potential racial bias in insurance pricing were published by the Casualty Actuarial Society today. Two of the four reports, Understanding Potential Influences of Racial Bias on P&C Insurance: Four Rating Factors…
Investment risk is the principal driver of required capital, with the investment portfolio highly exposed to equity securities in Pakistan. Further offsetting balance sheet factors include Adamjee’ s increasing dependence on reinsurance and its exposure to non-rated reinsurance recoverables through mandatory cessions to the state-owned reinsurer…
The U.S. Attorney for the Northern District of New York, Carla B. Freedman, issued the following news release on March 30, 2022:. Hector J. Sanchez, age 30, of Rensselaer, New York, pled guilty today to defrauding pandemic-related unemployment insurance programs administered by the New York State Department of Labor. The announcement was made by United States…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Kuwait Insurance Company S.A.K.P.. The outlook of these Credit Ratings is stable. The ratings reflect KIC’ s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate…
–Today, the Insurance Institute for Business& Home Safety gathered affordable housing and resilience leaders for its first "Making Affordable Housing Climate Ready" roundtable. We must find the needed financial avenues to bring resilience into every construction project, every re-roofing project and every community, "explains Roy Wright, president and CEO…
In the fall of 2021, Slice and Appalachian Underwriters partnered on the development and distribution of Contractors General Liability Insurance via the new brand AERO Insurance. “With remodelers being such a large group of the contractors industry, we’ re very pleased to offer coverage,” said Tim Atta, founder and CEO of Slice Labs.“ Not only do we want agents to…
–According to a study by the National Association of Subrogation Professionals, missed subrogation is costing insurers $15 B annually. But a new tool called SubroCheck, made by Megaputer Intelligence Inc., promises to change this.. P&C Insurance companies are well aware of the missed subrogation problem, but have so far been unable to address it except by…
Blue Cross divisional senior vice president Krishna G. Ramachandran said the for-profit, multi-specialty clinic, in its "first very specific counter-offer," is demanding a 75% increase in reimbursement rates "even though their rates are already the highest in the Springfield market and tower 60% more than those in the Chicago market." The aggressive stance by…
Lighthouse reported having 13,200 policies in Florida at the end of 2021. Although Lighthouse’ s Florida operations are overseen by regulators in Florida, the company is domiciled in Louisiana, according to a spokeswoman for the Florida Office of Insurance Regulation. Lighthouse also wrote policies in Louisiana, North Carolina, South Carolina and Texas.
JACKSON, Miss.– Leaders with the University of Mississippi Medical Center announced Blue Cross& Blue Shield of Mississippi is expected to force UMMC hospitals, clinics, physicians and other providers out of its commercial insurance network by April 1, 2022. Hospital officials said Blue Cross& Blue Shield stopped negotiations with them after their last…
The Federal Reserve is tasked with an incredibly important role to set monetary policy decisions independently of political persuasion. Now that she has withdrawn her nomination to serve as Vice Chair for Supervision at the Federal Reserve Board of Governors, a far better course would be for Democrats to advance a nominee who is fully committed to improving…
Georgia's insurance department has fined Anthem/Blue Cross Blue Shield $5 million for several violations of state law following a months-long investigation. To avoid additional fines, Blue Cross Blue Shield must develop a new process for handling provider complaints, pay claims within the time frames established under state law, and load provider…
Judge hears passionate arguments from Surfside victims but OKs $83 million settlement [Miami Herald]
Victims of the Surfside condominium collapse made impassioned pleas about how money in a legal dispute should be divided, but at the end of a court hearing Wednesday the judge overseeing the case was not swayed and approved an $83 million settlement he had previously endorsed. Miami-Dade Circuit Court Judge Michael Hanzman listened to emotional arguments…
The Healthcare Insurance Market research report consists of a complete market analysis, including financial standing, revenue estimation.. NEW YORK, NY, UNITED STATES, March 31, 2022/ EINPresswire.com/– The Global Healthcare Insurance Market Report 2027 published by Reports and Data to its ever expanding database covers critical data about the…
Concurrently, AM Best has affirmed the Long-Term ICR of“ bbb” of the publicly traded holding company, Donegal Group Inc.. Although the individual members within Donegal Group play a specific role in the organization’ s overall business plan, and their operating performances vary, each contributes favorably to the group’ s risk-adjusted capitalization.
