Republicans were three times as likely as Democrats to blame rising health costs on malpractice lawsuits, according to a poll conducted for The (Baltimore) Sun, and Democrats were twice as likely as Republicans to blame insurance companies and HMOs. Republicans …
Continuing New Jersey’s inquiry into recent national allegations of wrongdoing by segments of the insurance industry, Commissioner Holly C. Bakke has issued an order seeking information from major New Jersey brokers. Information regarding brokers’ contracts, compensation agreements and business practices …
The late U.S. House Speaker Thomas P. “Tip” O’Neill (D-Mass.) is famous for insisting, “All politics is local.” Apparently, O’Neill wasn’t counting the money. When it comes to money in Washington, the biggest players are those with national, not local, …
Guy Carpenter & Company Inc., the global risk and reinsurance division of Marsh & McLennan, announced the appointment of Bill Henriques as senior vice president in its Professional Liability Specialty Practice. “Bill’s technical product expertise and extensive experience as a …
Standard & Poor’s Ratings Services announced that it has placed its “BB-” counterparty credit and bank loan ratings on USI Holdings Corp. on CreditWatch with negative implications. “This rating action follows the company’s announcement on Oct. 29, 2004, that it …
International insurance broker, Willis Group Holdings, has issued a commentary on insurance related risks in the global energy sector, which notes, among other findings that, “Although there are many niche insurance markets for energy risks, the lion’s share of underwriting …
A new study of asbestos related diseases in the U.K., as reported by the BBC, indicates that total claims could reach £20 billion ($36 billion) over the next 30 years. According to actuarial estimates, about half that cost could be …
Bermuda-based XL Capital Ltd reported net income available to ordinary shareholders for the quarter ended Sept. 30, 2004, of $22.5 million, or 16 cents per ordinary share, compared with $99.0 million, or 71 cents per ordinary share, for the quarter …
Lloyd’s insurer Beazley Furlonge Ltd. announced that it plans to raise £105 million ($191 million) through a rights issue, to both strengthen its capital position, and to fund the acquisition of Omaha Insurance Company. Beazley will issue four new shares …
ACE Overseas General, the non-US insurance operations of The ACE Group of Companies, announced that it has appointed David Miller as executive vice president, International Accident & Health. Miller will be based in Philadelphia, and will lead the global A&H …
