Defending its second tender offer for Meridian Insurance Group, American Union Insurance Co. said Tuesday that disclosure laws governing tender offers are not intended to entrench management at the expense of shareholders. The comments, made before the Indiana Securities Division, …
The Village of Orland Hills, Ill., sued Arthur J. Gallagher last week, charging that the broker took “kickbacks” and violated the Illinois Consumer Fraud and Deceptive Business Practices Act. The alleged “kickbacks” they refer to are contingent commissions that were …
French insurer AXA’s U.K. subsidiary Sun Life & Provincial announced plans to distribute up to £1.7 billion ($2.47 billion) in unclaimed funds to shareholders and policyholders. The amount has been accruing over the years from lapsed policies and unclaimed life …
The two German lawyers representing the families of victims of the Concorde air disaster are reportedly close to filing compensation claims in the U.S. While settlement talks with Air France are continuing, the differences in damage awards between U.S. and …
The Willis Group, the world’s third largest insurance broker, has appointed Joseph J. Plumeri as chairman and chief executive, effective Oct. 15. Plumeri spent 32 years at Citigroup and its predecessor companies. He succeeds John Reeve, who is retiring from …
Fitch rating agency has issued comments on Conseco, Inc. and its related entities, saying the company will remain on watch until its bank obligations are settled. On Sept. 22, Conseco announced an agreement with its bank group that resolved the …
Vesta Insurance Group plans to enter into the banking and non-standard auto markets as part of a strategy to increase profits. The Alabama-based company made the announcement at a recent meeting of the Alabama Securities Dealers Association. As part of …
The Hartford has expanded Spectrum, its signature product for small business, and is now providing more coverages and higher basic and optional limits, while extending eligibility to more than 200 additional classes of business. The 200 new classes of business …
Celebrating its first anniversary, new U.S. insurance technology player Policy Master Inc. will hold its Annual Users’ Conference in Denver, Colo., from Oct. 15-17, 2000. The event’s theme—”Convergence and Beyond”—represents the coming together of its two user bases (users of …
South Dakota legislators have voted to keep the state’s countersignature law for insurance policies, which requires all policies to be signed by a resident agent. The move is viewed as a setback for insurers and consumers by the National Association …
