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Illinois, Iowa and Nebraska have put forward an interstate receivership plan. The plan is designed to coordinate and streamline the receivership process for insurers across the three states. The interstate compact requires the establishment of an not-for-profit Interstate Insurance Receivership Commission whose members comprise insurance commissioners from the three participating states. Other Midwest states are leery of the proposal, having no prior experience with the concept.

State Farm Mutual Automobile Insurance Co is raising its automobile insurance rates in Alabama and Nebraska, effective Aug 1, 1996. Overall rates will increase 6.4%, on average, in Nebraska and 5% in Alabama. In both states, bodily injury liability coverage will account for most of the increase. In explaining the increases, State Farm cited claim costs., State Farm Mutual Automobile Insurance Company will raise its overall auto insurance price level, effective Aug. 1, an average of 5 percent in Alabama and 6.4 percent in Nebraska. Most [...]

NEBRASKA DAMAGE TOTALS $15 MILLION Wind and hail in Nebraska on Aug. 21 caused an estimated $15 million in insured property damage, according to the property claim services division of [...]