Democratic Gov. Joe Manchin’s bill to eliminate third-party bad faith lawsuits survived its toughest test to date on March 17 when the Senate Judiciary Committee passed the bill out of committee over the strenuous objections of its chairman, Sen. Jeffrey …
CNA Financial Corporation has entered into a definitive agreement to sell Caronia Corporation, a third-party claims administrator focused on medical professional liability, to Octagon Risk Services, Inc., a subsidiary of Security Capital Corporation. Octagon Risk Services, Inc., is a third …
Joseph Bishop has been elected president of the Professional Insurance Agents of Connecticut during its annual convention in Mashantucket, Conn. Bishop is vice president and secretary of Associated Insurance Agencies Inc. in Hamden, Conn. He succeeeds Jeffrey Parmenter, a principal …
Delaware Insurance Commissioner Matt Denn has asked the Senate Public Safety Committee to send Senate Bill 20, a bipartisan bill improving the state’s enforcement tools against uninsured drivers, to the full Senate for a vote. The bipartisan bill sponsored by …
Merger & Acquisition Services Inc., a financial intermediary and advisor to the insurance marketplace, is opening of a New York City office. Merger & Acquisition Services Inc., (http://www.merger-acquisition.net) is a privately held company that represents both buyers and sellers in …
M&T Bank out of Buffalo, N.Y. has changed the name of its commercial property and casualty insurance agency from Matthews, Bartlett & Dedecker, Inc. to M&T Insurance Agency, Inc. The bank said the change has been approved by the New …
Aeroports de Paris (ADP), the authority that owns and operates both the Charles de Gaulle airport and Orly airport in the French capital, has determined that the entire roof structure of Terminal 2E must be torn down and replaced. The …
A.M. Best Co. and Standard & Poor’s Ratings Services have both issued comments on Swiss Re’s 2004 earnings (See IJ Website March 17), indicating that they were in line with the rating agencies’ expectations, and that no changes in Swiss …
Standard & Poor’s Ratings Services has said that the 2004 results announced by Germany’s international reinsurer Munich Reinsurance Co. (A+/Stable/–) and its related entities–collectively Munich Re—”were in line with expectations, and consequently have no immediate impact on the ratings or …
Germany’s Allianz reported net 2004 profits of 2.2 billion euros ($2.93 billion), despite last year’s spate of natural catastrophes and continued problems at its Dresdner Bank subsidiary. The group’s net rose 16.4 percent above the nearly 1.9 billion euros ($2.53 …
