American International Group Inc. (AIG) announced that AIG Private Client Group, a division of the American International Companies, is offering employment practices liability coverage to protect individuals against allegations of sexual harassment, wrongful termination and discrimination made by nannies, housekeepers, …
Gerling Global Reinsurance Corporation of America (GGRCA) announced the addition of $150 million in capital, through access of its parent company Gerling Global Re. The capital contributions will enable GGRCA to maximize business opportunities in the current reinsurance market environment …
According to a just-released Tillinghast-Towers Perrin survey, insurers using traditional business measures are discovering spotty evidence of success for their new technology investments. Yet, even in the aftermath of the Sept. 11 terrorist attacks, they continue to be optimistic that …
Lord, Bissell & Brook, a legal firm representing London Market Insurers in a lawsuit filed against the insurers by The B.F. Goodrich Company, announced that a Summit County, Ohio court has granted summary judgment and dismissed their clients from the …
Michigan Governor John Engler signed House Bill 5313, which enacts the National Association of Insurance Commissioners (NAIC) Model Producer Licensing Act and meets the producer licensing reciprocity requirements outlined in the federal Gramm-Leach-Bliley Act (GLBA). The bill becomes effective March …
Transatlantic Holdings, Inc., the parent company of Tranasatlantic Re, announced that its preliminary estimate of reinsurance exposure related to Enron Corp.,”if it results in a claim,” is expected to amount to “approximately $39 million, net of tax, and will be …
Bermuda’s RenaissanceRe Holdings Ltd. confirmed its commitment, announced last October, to provide $100 million in additional capital to Glencoe Insurance Ltd., its commercial property subsidiary. The additional investment will bring Glencoe’s total capitalization to $200 million, and follows a $34 …
The U.K.’s Financial Services Administration (FSA) will ask Britain’s general insurers to pay a levy of 0.66 percent of their premium income in order to raise £150 million ($216 million) to pay the claims of policyholders of Independent Insurance and …
Standard & Poor’s announced that it has placed Mitsui Sumitomo Insurance Co. (Europe) Ltd. (MSI Europe), formerly known as Mitsui Marine & Fire Ins. Co. (Europe) Ltd.’s double-‘A’ counterparty credit and financial strength ratings on CreditWatch with negative implications. S&P …
Connecticut’s W. R. Berkley Corp. announced the appointments of Robert C. Hewitt as Senior Vice President – Risk Management, and Michael E. Lombardozzi as Senior Vice President – Planning and Operations, and the promotions of W. Robert Berkley, Jr. and …
