Montpelier Re Holdings Ltd. announced that it has priced an offering to sell $250 million of senior notes due 2013. The senior notes will bear interest at 6.125 percent per year and, unless previously redeemed, will mature on Aug. 15, …
New Jersey Commissioner Holly Bakke of the Department of Banking and Insurance recently called for a hearing to determine the availability of medical malpractice reinsurance in the New Jersey marketplace. Her announcement followed a notification by Princeton Insurance Company of …
The Alliance of American Insurers believes the U.S. General Accounting Office’s (GAO) latest report (03-702) on the medical liability insurance crisis provides further evidence that medical liability premiums have skyrocketed in certain jurisdictions due to the dramatically increased size and …
Michael Kadel has been named director of technical services by Bowman Specialty Services, LLC, a loss-control and safety-engineering firm in New York City. Kadel is a former captain with the New York City Department. During his 23 years with the …
New Jersey Attorney General Peter Harvey announced that an Essex County doctor and his niece have been charged by the Division of Criminal Justice – Office of Insurance Fraud Prosecutor with reportedly falsifying medical records and submitting nearly $50,000 in …
The Alliance of American Insurers reports that a recently completed new study shows that a lack of anti-fraud safeguards in New York State’s auto insurance system has caused New Yorkers to develop more permissive attitudes toward committing insurance fraud than …
The California Workers’ Compensation Insurance Rating Bureau (WCIRB) submitted its annual regulatory filing to the California Insurance Commissioner July 30. In its filing, the WCIRB proposed the following: *An average increase in advisory pure premium rates of 12.0 percent to …
A split decision issued July 29 by a federal judge in California in a case related to local privacy ordinances is a case of good news/bad news for insurers and other financial services companies, according to the Alliance of American …
Rancho Dominguez, Calif.-based National American Insurance Company of California, the primary insurance subsidiary of Danielson Holding Corporation, announced its decision to focus exclusively on the California non-standard personal automobile insurance market. Effective July 7, 2003, the Company ceased quoting new …
American International Group Inc. announced the creation of a cooperative joint venture with the Interros Holding Company (Interros) of Moscow. The joint venture permits AIG companies and Interros to bring together their individual strengths to develop investment opportunities that AIG …
