An attorney representing Marsh & McLennan says that a lawsuit filed by Florida authorities accusing Marsh of lying to clients and receiving improper commissions never should have been filed. The giant insurance broker’s lawyer says the state has already agreed …
Massachusetts State Sen. Andrea F. Nuciforo Jr. has announced that he will not seek re-election in November and will instead run for registrar of the Middle Berkshire Registry of Deeds. Nuciforo, D-Pittsfield, told the Berkshire Eagle on Friday that he …
Texas Attorney General Greg Abbott reported that Texas and eight other states have reached a $171 million settlement with Zurich American Insurance Co. relating to bid-rigging and price-fixing in the commercial insurance market. The settlement means that policyholders in the …
Congress has agreed to boost the borrowing power of the federal flood insurance agency, which is fast running out of money needed to meet some 225,000 claims from hurricanes Katrina and Rita. The legislation, passed by voice vote in the …
Telecom equipment maker Nortel Networks Corp. said on Friday its insurers have agreed to pay $228.5 million toward a proposed settlement of a shareholder lawsuit. As part of the settlement announced in February, Toronto-based Nortel will make a payment of …
Pennsylvania Gov. Ed Rendell has vetoed legislation that would have capped the damage award homebuilders must pay for faulty work and regulated the ability of property owners to sue. The legislation had been deemed unconstitutional by Attorney General Tom Corbett, …
Saint Paul, Minn.-based The St. Paul Travelers Companies Inc. announced on Sunday that recent media reports, including a Wall Street Journal article that claimed the company was in discussions with Zurich Financial Services Group regarding the possibility of a merger …
North Dakota Insurance Commissioner Jim Poolman is reminding residents that based upon the National Weather Service spring flood forecast, it is likely that some areas along the Red River and some of its tributaries will experience higher than normal flooding …
Insurer Allianz Group said Thursday its fourth-quarter profit nearly tripled as earnings in its banking and asset-management units and improved investment income protected it from losses related to last year’s hurricanes. The Munich-based company, Europe’s biggest insurer by gross premiums, …
Odyssey Re Holdings Corp. intends to file a notice with the Securities and Exchange Commission that it will delay the filing of its 2005 Annual Report on Form 10-K. In connection with its previously announced restatement of its financial results …
