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PIA Files Comments on Terrorism Risk Insurance Act
PIA has filed comments with the U.S. Treasury Department on the latest proposed set of rules addressing claims procedures under the Terrorism Risk Insurance Act...
Group Pushes Washington State to Consider Broad Tort Reforms
The escalating cost of insurance for professionals in a wide variety of fields means tort reform must extend beyond its traditional area of focus, medical...
Large Jury Awards Hit Six-Year Low
An annual survey by Boston-based Lawyers Weekly USA indicates that the ten largest jury awards in 2003 totaled $1.27 billion, a six-year low. The year's...
FEMA Delays Proposed Rule Changes to Flood Program
On December 31, 2003 the Federal Emergency Management Agency (FEMA) announced that it is delaying its decision on proposed rule changes to the National Flood...
OCC to Congress: If You Don't Like Our Actions, Pass a Law
In a December 23 letter to Rep. Carolyn B. Maloney (D-New York), a senior member of the House Financial Services Committee, Comptroller of the Currency...
OCC Announces Banking Regulations
Recent efforts by the Office of the Comptroller of the Currency to preempt state laws are not confined to those dealing with insurance. The...
Med Mal: An Alternative to Caps
In a December 22, 2003 editorial, the Seattle Post-Intelligencer threw its weight behind a medical malpractice insurance solution offered up by Washington Gov. Gary Locke...
St Paul/Travelers Merger Proceeds
The St. Paul Cos.' pending merger with Travelers Property Casualty Corp. is one step closer to being realized. The U.S. Federal Trade Commission has given...
Homeowners Premiums Expected to Rise in 2004
Homeowners insurance premiums are expected to increase by eight percent in 2004 compared with the 7 percent average increase in 2003, according to the Insurance...
P&C Net Income Surges
The Insurance Services Office, Inc. (ISO) and the National Association of Independent Insurers (NAII) report a surge in the P&C industry's net income after taxes,...