The March 25 deadline, set by the Alabama Department of Insurance for insurers to settle Hurricane Ivan-related claims or report to the department why they have not been settled, has passed and according to a DoI spokesman, unsettled cases are …
The various investigations of giant insurer American International Group are continuing to take their toll. Maurice “Hank” Greenberg will step down as Chairman of American International Group’s Board of Directors later this week, ending his more than 40-year relationship with …
Florida’s Chief Financial Officer Tom Gallagher has announced that due to overwhelming responses at the four town hall meetings held so far, three additional town hall meetings have been scheduled in April. Gallagher decided to sponsor town hall meetings in …
Citizen’s Property Insurance Corp., Florida’s insurer of last resort, is projecting a $525 million deficit and could have to make it up by assessing property owners, but is putting the action off until a possible decision by the Legislature to …
A severe earthquake, measuring 8.7 on the Richter Scale, struck several Islands off the Northwest Coast of the Indonesian Island of Sumatra at around 11:15 p.m. local time (11:15 a.m. EST) causing heavy damage and loss of life. The most …
According to news reports, Lloyd’s Equitas has reached a $415 million settlement of asbestos claims with McDermott International Inc., the parent company of Babcock & Wilcox, one of the world’s largest makers of steam generators. The settlement would be Equitas’ …
The ReAdvisory group of Carvill, a leading specialty reinsurance intermediary, has released a white paper, which concludes that the location of the “Bermuda High” pressure system is crucial in determining whether a hurricane will make landfall along the east coast …
ACE European Group announced that it has appointed Isabel Gouveia-Lima as Operations Director, based at the Group’s European Headquarters in London. She will “drive process change and improvements throughout all aspects of ACE’s service delivery, said the bulletin. “Building upon …
Tower Group, Inc.has completed the acquisition of North American Lumber Insurance Company, an insurance company with active licenses in the nine states which it plans to use to expand. The states are New Jersey, Connecticut, Massachusetts, Rhode Island, Vermont, Maryland, …
Nationally recognized insurance reformer and Massachusetts native Harvey Rosenfield will return to his home state Tuesday, March 29 to unveil a report he says shows how much more Massachusetts drivers pay for auto insurance than drivers across the country and …
