The Massachusetts Senate passed Thursday a bill eliminating the countersignature requirement for state insurance agents, a move that will make it easier for agents and insurers to conduct business in the state and improve service to consumers. Passed last year …
Citing numerous violations in a wide range of categories, the Maryland Insurance Administration entered into consent agreements with four of Maryland’s major health plans and a private review agent that total more than $1.25 million in fines. In addition, 11 …
Fairfax Financial Holdings Ltd. has made an agreement for its Crum & Forster subsidiary to acquire Sen-Tech International Holdings, the holding company of Seneca Insurance Co. for $65 million. Seneca, headquartered in New York, will become a unit of Crum …
Excluding net realized capital gains, income increased 15.5 percent to $1.36 billion, compared to $1.18 billion in the first quarter of 1999. Income before taxes, minority interest and realized capital gains for the first quarter increased to $2.01 billion, up …
Transatlantic is a leading international reinsurer headquartered in New York, with assets of $5.5 billion and stockholders’ equity of $1.7 billion. Its subsidiaries include Transatlantic Reinsurance Co. and Putnam Reinsurance Co. The company’s income before taxes totaled $71.6 million for …
In an effort to simplify the world of online insurance for consumers, 4Insurance.com has launched a new web site allowing consumers to run a virtual auction for the best offer on auto, home, health and life insurance. The free service …
As expected, the European Central Bank (ECB) raised interest rates on the Euro today, but only by what most analysts considered a paltry 25 basis points. The move, which raised the effective rate to 3.75 percent, didn’t help the battered …
Chelsea, one of England’s best known football (Soccer) clubs was reportedly seeking insurance coverage to reimburse it against loss, if it fails to qualify for Europe’s Champion’s League Competition in future seasons. Although they are already out of this year’s …
According to reports, analysts now say that AXA will have to pay at least 500 pence ( $7.90) per share if it wants to acquire the 43.7 percent of Sun Life and Provincial Holdings it doesn’t already own. AXA had …
The on-again, off-again negotiations between the European Community and China over the terms of a trade agreement, which could lead to China’s joining the WTO, are now set to resume beginning May 15. The European delegation will again be headed …
