The Netherlands insurer and financial services company AEGON N.V. and its largest shareholder Vereniging AEGON (the “Association”) announced the placement of 350 million existing AEGON common shares at an offering price of €10.00 per bearer share and $ 9.71 per …
The problems of state oversight are significant, requiring reform of the system, but Congress can best modernize state rules through federal legislation, not regulation, Independent Insurance Agents & Brokers of America (IIABA) spokesman Ronald A. Smith, CPCU told a congressional …
A key committee of the National Association of Insurance Commissioners has agreed to expand its review of property/casualty insurance market conditions to include an analysis of the root causes of those conditions, according to the American Insurance Association. On the …
IVANS Networking, a division of IVANS Inc., has created a new Executive Broadband Access offering. Using IVANS’ service, executives can gain secure access into their companies’ applications from home, hotels or other remote locations using any high-speed connection. The service …
Hagerty, the nation’s largest collector car insurance agency, has a new program for collector car owners. It will implement the first 24-hour, seven days a week flatbed towing service exclusively for collector cars, anywhere in the U.S. and Canada. “We’ve …
Growing losses and expenses from an increase in mold claims, weather-related losses, and a significant reduction in investment income have contributed to rising rates for many homeowners’ insurers, according to the National Association of Independent Insurers (NAII). “These factors will …
A federal judge has dismissed J.P. Morgan Chase & Co.’s fraud claim levied against 11 insurers, possibly derailing the company’s attempt to gather approximately $1 billion in losses resulting in trade losses with bankrupt Enron Corp, according to a Dow …
Rates in 2002 for reinsurance covering the property catastrophe risks of insurance companies increased in all regions for virtually all insurance companies, according to a new report by Guy Carpenter & Co., Inc. The rate increases in 2002 represent a …
Zurich North America’s Machinery and Equipment Breakdown program (Zurich MEB), which has provided machinery breakdown coverages for more than 80 years, is using advanced online technology to partner with other property-casualty insurance carriers that want to offer boiler and machinery …
Nevada Insurance Commissioner Alice Molasky-Arman announced the formation of the Construction Liability Task Force. Molasky-Arman has charged the task force to investigate the genesis of the construction liability problems, which have led to a marked increase in litigation and compromise …
