R.I. lawmakers study ways to assist coastal homeowners A group of Rhode Island legislators examining insurance companies’ recent changes to homeowners’ policies for coastal areas met recently at the University of Rhode Island’s Bay Campus to review a model of …
N.Y.’s Interboro back in business New York officials announced that the Interboro Mutual Indemnity Insurance Co. is on track to emerge in early 2007 from three years of insolvency and subsequent rehabilitation and return to the marketplace as a private …
New York Sens. Hillary Clinton and Charles Schumer, along with New York City Mayor Michael Bloomberg, have expressed concerns that the deal may leave Royal Indemnity unable to meet its obligations. A proposed management buyout and eventual dissolution of Royal …
$105.3 million The amount being paid by Prudential Financial Inc. over 20 years for the naming rights to the new arena for the NHL’s New Jersey Devils’ hockey team. The $375 million downtown venue is already under construction nearly across …
News Currents The Professional Liability Underwriting Society (PLUS) held its international conference in Chicago in late 2006. Moderating the panel was television journalist Forrest Sawyer, a 24-year veteran of ABC, CBS and MSNBC, who targeted his questions to insurance leaders …
Long Island insurer reborn as stock insurer 8 Delaware agents groups to merge Group will be both Big ‘I’ and PIA 8 Mass. Diocese gives files to insurers Insurers may review handling of abuse cases 10 Royal & Sun Alliance …
Parking and Valet Operators Nuts & Bolts: USRisk Brokers has a new Parking and Valet Operators Program designed for businesses engaged in parking customers’ cars, such as self-parking garages and lots, assisted parking, valet parking and parking for special events. …
Goldman Sachs, USI Holdings Big insurance broker USI Holdings Corp. agreed to be acquired by GS Capital Partners, a private equity affiliate of Goldman, Sachs and Co., in a transaction valued at approximately $1.4 billion, including repayment of USI’s existing …
Connecticut Attorney General Richard Blumenthal has submitted draft legislation to the General Assembly that would prohibit insurers from requiring that consumers install hurricane shutters as a condition of insurance. The legislation would also require an insurer to notify existing policyholders …
The case appears to be more about how one insurer handled a particular claim and not a ruling with widespread impact on the industry. There was an important court ruling in Mississippi earlier this month that had the whole industry, …
