Thursday, May 13, 2010

Insurance news:NV commissioner quits, Prudential buying AIG, and a new product: marijuana insurance

Nevada insurance commissioner resigns, search for replacement underway

NAIC testifies on impact of insurers’ use of credit-based scores

NM: State insurance division may cancel Blue Cross Blue Shield NM rate hike: "Interim state Insurance Superintendent Tom Rushton has been asked to rescind his predecessor’s approval of the 21.3 percent rate increase, King said."

Reuters: Healthcare bill poses credit risk for nonprofits

BusinessWeek: An insurance giant’s make-or-break deal (Prudential’s $35.5 billion bid for a unit of AIG)

BusinessWeek: NC insurance industry opposing tort reform legislation

LA Times: CA insurance broker gets 10-year sentence for bilking investors

And lastly, from the Denver Business Journal: “Here comes another signpost on the medical marijuana industry’s road to legitimacy: insurance. Dispensaries worries about setbacks ranging from inventory theft to accidentally sickening a client have a new option: Greenway Insurance.”