Holland’s ING Group announced that it plans to consolidate “its extensive reinsurance expertise and operations under the name ING [lion] Re. “This is a response to increasing globalisation in the reinsurance sector and is designed to ensure ongoing organic profit …
Following negative reaction from family members and local authorities, Lloyd’s reversed its decision to explore the site of the 1998 Swissair crash off Nova Scotia. In a brief announcement Lloyd’s apologized for any distress caused “by its application for a …
SINSER Holding AB, part of Sweden’s Skandia Group, announced that it has acquired Risk & Insurance Research Group Ltd.(RIRG) of London for an undisclosed price. The move underlines Skandia’s strategic decision to increase its presence in the Alternative Risk Transfer …
New York Gov. George Pataki has proposed an insurance bill that would allow insurers to sell business policies covering losses caused by governmental closures of roads. Pataki’s “civil authority” bill would provide for insurance coverage based on lost business rather …
The Superior Court of the State of California recently made a ruling favorable to ACE Ltd. in a lawsuit brought against that company by subsidiaries of AIG and Chubb. The lawsuit focused on a restructuring plan implemented in 1996 by …
George Kehrer, executive director of Community Assisting Recovery Inc. (CARe), a nonprofit organization dedicated to getting property owners into safe buildings following the 1994 Northridge earthquake, will be in Sacramento today to discuss the continued victimization of the quake survivors …
CoverageCorp.com, an Internet provider of property and casualty insurance coverage for small and medium-sized businesses, has made online marketing agreements with two key business marketplace portals, BizLand.com and BuyerZone.com. The partnership agreements begin June 19 and give CoverageCorp.com two key …
Three law firms have filed a nationwide class action against the Prudential Insurance Company of America and its health care subsidiaries that have recently been sold to Aetna. The case, Romero v. Prudential Insurance Company, alleges that Prudential and its …
The personal insurance division of Royal & SunAlliance USA has successfully launched Orion AutoLink, its web-based agency interface for nonstandard auto insurance products, in 23 states where those products, marketed under the brand name of Orion Auto, are sold. AutoLink …
The Insurance Institute of America has developed a new designation for people who need to understand the regulatory environment and the effect regulation has on the business of insurance. The Associate in Regulation and Compliance (ARC) designation program consists of …
