The reorganization plan filed by W.R. Grace & Co. in its Chapter 11 bankruptcy case includes a proposal to establish a trust to handle a variety of asbestos claims against the chemical manufacturer. The reorganization plan, filed in U.S. Bankruptcy …
A hospital industry backed study indicates that Maryland’s medical liability environment that is costing medical professionals more and more could end up costing as many as 3,000 jobs by 2005. “The effects of this crisis are no longer limited to …
The St. Paul Travelers Companies, Inc. has issued the following bulletin: “In connection with a widely reported, industry-wide investigation, St. Paul Travelers has received a subpoena from the Office of the Attorney General for the State of New York for …
Affirmative Insurance Holdings, Inc. of Addison, Texas, a producer and provider of personal non-standard automobile insurance, announced that its insurance company subsidiaries and one of its agencies have received subpoenas from the Illinois Department of Financial and Professional Regulation, Division …
A bulletin from the office of lame-duck Illinois Republican Sen. Peter G. Fitzgerald indicates that: “It might be time to use federal antitrust enforcement to ensure that the insurance brokerage industry remains free, competitive, and healthy for consumers.” Fitzgerald said …
Standard & Poor’s has issued a bulletin “in response to media reports that the New York Attorney General, the SEC, and other authorities are initiating new investigations of insurance companies in connection with the alleged abuse of financial engineering products.” …
Zurich Financial Services acknowledged that it has received a subpoena by the Securities and Exchange Commission and the Office of the New York Attorney General requesting information regarding non-traditional products. Zurich said it “continues to cooperate with the authorities.” The …
Zurich Financial Services reported a 35 percent increase in its net income for the first nine months of 2004 to $1.902 billion, compared to $1.41 billion in the same period of 2003, despite the impact of the Florida hurricanes. Other …
ACE Europe has announced the restructuring of its UK and Ireland Property & Casualty Operations into four distinct regions – North, Midlands and South West, South East and Ireland. Ace said: “The four regions, each with their own regional development …
A.M. Best Co. announced that it has assigned a debt rating of “bbb” to AXIS Capital Holdings Limited’s recently issued $500 million 5.75 percent senior unsecured notes, due 2014. It also assigned an issuer credit rating of “bbb” to AXIS …
