Bermuda-based CastlePoint Holdings, Ltd. held its initial public offering of 7,682,238 common shares on Friday, March 23. The Company sold 7,562,738 shares and existing shareholders sold 119,500 shares at $14.50 per share. The IPO raised approximately $111 million. CastlePoint’s shares …
The state Supreme Court has adopted a new legal rule making it easier for plaintiffs to sue businesses for negligence alleged in self-service operations. Customers who are injured at a business previously had to demonstrate that the owner or operator …
It’s been more than two weeks since Tennessee lawmakers vowed to press ahead with a compromise over medical malpractice lawsuits without support from health care lobbyists. The measure hasn’t advanced much since then. House Judiciary Chairman Rob Briley said frustration …
U.S. Sen. Trent Lott, R-Miss., who sued State Farm Fire and Casualty Co. for refusing to cover Hurricane Katrina’s damage to his Gulf Coast home, said last week that he is weighing a settlement offer from the company but hasn’t …
Restaurant chain Cracker Barrel is suing two of its insurance carriers, claiming they did not reimburse the company after it settled sexual and racial harassment claims for $2 million. The lawsuit filed last week in U.S. District Court in Nashville …
Pennsylvania’s two largest health insurers are in talks for a possible merger, according to a memo one of the companies’ chief executives sent to employees last Friday. Joe Frick, president and chief executive of Independence Blue Cross in Philadelphia, said …
Two insurance industry experts and a former state insurance department general counsel are the newest appointments to the Citizens Property Insurance Corp. board of governors. Andrea “Andy” Bennett, owner of a Sarasota consulting company specializing in insurance regulatory issues, and …
A Canadian man has been extradited to the U.S. to face trial on charges that he swindled $7 million from the victims of a fraudulent commercial insurance policy scheme, Acting New York Insurance Superintendent Eric R. Dinallo announced. Ian Stuart-Smith, …
Orange Beach City Councilman Joseph McCarron was fined $1,000 and sentenced to six months of unsupervised probation for his conviction in a corruption case. McCarron, 69, who appeared in Baldwin County court in a wheelchair on March 21 due to …
A state-run insurance program has been expanded slightly to provide relief for some coastal homeowners grappling with skyrocketing premiums, and Gov. Mark Sanford and other lawmakers promised a tax-incentive plan to help, too. The state-run program, known as the wind …
