A Delaware judge this week granted a California businessman’s request to order an insurance inspection of a collection of Elvis Presley memorabilia sitting in a Nevada airport hangar pending resolution of an ownership dispute. Richard Long is battling Nevada residents …
Virginia Gov. Timothy M. Kaine has proposed $3 billion in borrowing for statewide transportation projects, one-fifth more than legislators sought, using existing taxes on car insurance premiums to pay off debt. Kaine, a Democrat, also left intact regional transportation provisions …
The Public Employees Insurance Agency in West Virginia has denied two protests of its decision to award a multimillion-dollar management contract to a Maryland company. Humana Inc. and Highmark Health Insurance Co. filed the formal protests after the PEIA awarded …
Republican lawmakers in Pennsylvania expressed reservations this week about imposing a new business payroll tax to help expand state-subsidized health insurance in the first public hearing on Gov. Ed Rendell’s plan to make health care cheaper and more efficient. The …
The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent for the year. St. Paul Travelers’ earnings rose sixfold in the fourth quarter, American International Group’s rose eightfold. A …
Standard & Poor’s Ratings Services has assigned its “A+” long-term counterparty credit and insurer financial strength ratings to Republic of Ireland-based non-life insurer Hibernian General Insurance Ltd. (HGI) with a stable outlook. “The ratings on HGI reflect the company’s strategic …
Marsh announced from its offices in Doha that it is to apply for a license from the Qatar Financial Centre Regulatory Authority. Commenting on the application, Robert Makhoul, Head of Marsh’s Middle East operations, stated: “Our plans to set up …
Aon announced from its London office that it has formed “Aon Global Risk Consulting [AGRC], creating one of the largest dedicated risk consulting, captive management and risk engineering groups in the world.” The new unit’s formation coincides with the launch …
Lancashire Holdings Limited, which writes a diversified mix of specialty insurance lines both catastrophe and non-catastrophe from twin platforms in Bermuda and London, announced three senior management promotions, as follows: — Simon Burton is appointed as Deputy Chief Executive Officer …
Equitas, the run-off vehicle established by Lloyd’s in 1996 to handle 1992 and prior years’ non-life liabilities, has completed its reinsurance transaction with National Indemnity Company, a member of the Berkshire Hathaway group of insurance companies. The transaction was first …
