The Pioneer Valley Transit Authority in Springfield, Mass. has hired a special lawyer to lead an internal investigation of bidding practices that have come under federal scrutiny. Attorney Jeffrey Kinder will be paid up to $10,000 and is expected to …
A bulletin on the Lloyd’s Web site (www.lloyds.com) reminds companies of the importance of having sufficient coverage in force to handle potential recalls of the consumer products they sell. Lloyd’s interviewed Mark Kendall, a lawyer with Reynolds Porter Chamberlain (RPC), …
Rakuten, one of Japan’s top Internet shopping mall operators, has reportedly announced that it is considering entering the country’s nonlife insurance business to boost its growing financial operations. A report from Reuters, who cited the Japanese business daily, Nihon Keizai …
A.M. Best Co. announced that it has assigned a financial strength rating (FSR) of “B+” (Very Good) and an issuer credit rating (ICR) of “bbb-” to Turkish reinsurer Milli Reasurans Turk Anonim Sirketi (Milli Re), with a stable outlook. “The …
Editor’s Note: This story was updated at 3 a.m. EST. News prior to then indicated that early reports were 12 miners in a West Virginia coal mine explosion had been found alive. Hours later, officials said that was not the …
A West Virginia coal mine where 13 miners were trapped after an explosion Monday was cited 208 times for alleged safety violations in 2005, up from just 68 citations the year before. Federal regulators’ allegations against the Sago Mine included …
Five years after the latest medical malpractice insurance “crisis” began to roil Pennsylvania and other parts of the nation, some say a balance has returned to the system here. But doctors and hospital executives continue to worry that high malpractice …
The acquisition of a Washington-based health care service contractor as part of a national merger involving 10 states was approved recently by Insurance Commissioner Mike Kreidler’s office. The acquisition of PacifiCare of Washington by UnitedHealth Group of Minnetonka, Minn., was …
Rainier Pacific Financial Group Inc. reported that its wholly-owned subsidiary, Rainier Pacific Bank, has completed its acquisition of the property and casualty insurance businesses of Christopherson-Boze Insurance Services Inc. and Holman Insurance Agency Inc. Wallace Christopherson, the former owner and …
Milwaukee-based Marshall & IIsley Corp., a banking and financial services company, is suing Marsh & McLennan Cos. Inc., electing to participate in the $850 million settlement of bid-rigging and antitrust charges. Marshall & IIsley elected to participate in the suit …
