Liberty Mutual Group to Acquire Safeco Corporation For $68.25 Cash Per Share
Liberty Mutual Group Will Become Fifth Largest U.S. Property and Casualty Insurer Based on Combined 2007 Direct Written Premium of $26.2 Billion
Liberty Mutual Group (“Liberty Mutual”) and Safeco Corporation (“Safeco”) (NYSE: SAF) today announced that they have entered into a definitive agreement pursuant to which Liberty Mutual will acquire... Full Story
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InsureMe Takes a Look at Pit Bulls and Homeowner’s Insurance
Insurance Referral Service Researches Industry’s Breed-Specific Underwriting
According to InsureMe, 3.5 percent of homeowners nationwide possess either a Chow, Doberman, German Shepherd, Rottweiler or pit bull terrier. Full Story
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$600 Million Trust Fund Now Available for Smokers
Deadline for Filing is June 16, 2008
Frank Batsch was a smoker for more than 25 years. Although he quit nearly 40 years ago, he has been suffering for more than a decade from throat cancer that has nearly robbed him of his voice and his life. Full Story
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Workers’ Compensation Costs Per Claim in North Carolina Continued to Rise Rapidly, Says New WCRI Study
Overall Costs Per Claim Fairly Close to Median of 14 Study States
Workers’ compensation costs per claim in North Carolina grew 6-14 percent annually throughout the study period, according to the Workers Compensation Research Institute (WCRI). Full Story
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BestWeek: Signs Point to Greater Competition Between Auto Insurers in Mass.
Average Massachusetts automobile premiums are among the highest in the United States, but on April 1, 2008, Insurance Commissioner Nonnie Burnes will transform the Commonwealth's private passenger automobile insurance industry by reversing... Full Story
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BestWeek: Louisiana Insurance Market Hinges on Two Supreme Court Cases
Lady Justice might be blind but she had to have noticed the weight of billions of dollars on her scales in Louisiana, where the fate of the insurance industry is riding on two key state Supreme Court cases. Full Story
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Castelblanco Law Firm Files Lawsuit Against IHOP Restaurant for Wrongful Termination, Age Discrimination
Citing age and perceived disability discrimination among other grievances, Ricardo Hernandez, 62, filed a wrongful termination lawsuit today in Orange County Superior Court against an International House of Pancakes (IHOP) restaurant in... Full Story
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Johnson & Bell, Ltd. Receives “Not Guilty” Verdict in Favor of Restaurant Chain; Plaintiff Asked for More Than $850,000 in Damages
On Friday, February 29, 2008, a twelve-person jury sitting in the U.S. District Court, Northern District of Illinois, returned a defense verdict on behalf of Johnson & Bell, Ltd., client, TGI Friday’s, in a personal injury case wherein plaintiff... Full Story
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Generic Drugs Slow Rise in Prescription Drug Costs, Saving $5.2 Billion in 2007
Greater use of generic drugs dramatically slowed the growth in prescription drug costs during 2007, saving an estimated $5.2 billion for commercially insured Americans and benefit plan sponsors. Full Story
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Report Examines Why Arizona Ranks Worst for Identity Theft
New Study Finds Child Identity Theft Nearly Four Times National Rate
Identity Theft 911, a leading provider of identity management, resolution and education services, released a new report today that reveals the true number of state identity theft victims may be nearly 34 times higher... Full Story
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IVOX® Introduces First Predictive Driver Risk Management System for Fleets
IVOX Launches DriverScore®, the “Credit Score” for the Transportation Industry
IVOX®, the expert in predictive driver risk management, today announced the release of its patent-pending DriverScore® 2.0, the first driver risk management system designed to predict individual driving behavior for the fleet industry. Full Story
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National Auto Insurance Report Shows Insurance Rates Fall 5.2% in 2007
Average premium is $1,868 down from $1,965 in 2006, according to Insurance.com
Insurance.com, the largest online auto insurance agency in the United States, reports that car insurance rates in 2007 were at their lowest in three years. Full Story
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Florida Homeowner Insurance Companies Continue to Leave the State
Since the 2007 Legislation, the Number of Florida Home Insurance Companies Writing New Business Has Declined from 42 to 36
Home Insurance Buyers Guide, LLC today released an update on the availability of homeowners insurance in Florida. The company offers a searchable database at www.homeinsurancebuyers.org where homeowners can find private insurance companies... Full Story
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California’s Self Insured Solutions-Sponsored Study Finds Guarded Optimism, Focused Concern About 2008 California Economy
In the largest survey of its kind, fewer than half of California’s 10,000 business insurance agents see California’s business economy improving – either for themselves or for their clients – in 2008. Full Story
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A.M. Best Places Ratings of the Balboa Insurance Entities Under Review With Developing Implications
A.M. Best Co. has placed the financial strength ratings (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a” of Balboa Insurance Group, its members and Newport E&S Insurance Company under review with developing implications. Full Story
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BestWeek: While Investigations Continue, Calif. Tries to Rebuild Workers’ Comp Fund
California officials are attempting to rebuild the management and operations of the state’s workers’ compensation fund even as criminal investigations and administrative reviews continue... Full Story
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Attorney General files lawsuit against six large insurance companies alleging price-fixing
Attorney General Charles Foti filed a lawsuit in Orleans Parish Civil District Court late Wednesday alleging collusion, price-fixing and anti-trust violations by six major insurance companies - including Allstate and State Farm... Full Story
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Press Release: Mitchell Introduces French Language Version of ABS(TM) Management System
Mitchell International, a leading provider of information, workflow, and performance management solutions to the collision claims and repair industries, today announced that it will release a French version of its ABS(TM) body shop management system Full Story
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CIB Urges Governor to Sign ''Late Notice of Claim'' Bill into Law
The Council of Insurance Brokers of Greater New York, Inc. (CIB), the leading professional independent insurance brokers association in the New York Metropolitan area, including Long Island and the Lower Hudson Valley, congratulates... Full Story
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USAA Endorses House Legislation to Modernize Insurance for Consumers
Creation of a Federal Regulator Will Reduce Hassle and Lower Prices for America’s Military and Their Families
USAA announced its endorsement of legislation introduced today in the U.S. House of Representatives to modernize insurance regulation through the creation of an optional federal insurance charter, similar to the banking industry. Full Story
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