The Maine supreme court has handed Gov. John Baldacci a victory on one of the most contentious elements of his Dirigo health initiative. In a 5-1 ruling last week, the court sided with the Baldacci administration on assessments made to …
Standard & Poor’s Ratings Services has affirmed its “A+” insurer financial strength and counterparty credit ratings on the core operating entities of Australia’s QBE Group. S&P also affirmed its “A-” insurer financial strength and counterparty credit ratings on the group’s …
Australia’s QBE Insurance Group Limited became a major player in the U.S. market with the closing of its acquisitions of Praetorian Financial Group and Winterthur US. All of the parties involved – France’s AXA Group; Germany’s Hannover Re and QBE …
Insurance Australia Group Limited (IAG) announced that its planned investment in China Pacific Property Insurance Company (CPPI) has been “suspended.” However, IAG then stated: “barring any substantial changes in CPIC’s [China Pacific Insurance Co.] short-term strategy, it is unlikely to …
France’s AXA Group announced today that it has entered into a memorandum of understanding with SNS Reaal, a Dutch financial-services company, leading to final discussions on the sale of its principal Dutch insurance operations for €1.75 billion ($2.35 billion). These …
A former top agent for American Family Insurance has been sentenced to four years in prison on 104 criminal counts accusing her of establishing dozens of fraudulent insurance policies. Waukesha County Circuit Judge Kathryn Foster sentenced Nancy Paquette, 46, of …
Last Friday marked the first day of hurricane season, but the only “storm” guaranteed to be on the horizon is the flawed way government regulators deal with insuring against catastrophes, according to researchers at a Washington, D.C. think tank that …
The Connecticut Senate voted last week to expand workers’ compensation benefits to injured employees, despite cries from business advocates who claim the bill will help drive more companies out of Connecticut. The bill passed 21-15. The House of Representatives has …
A California jury has ordered a New Jersey engineering and construction firm to pay $5.2 million in an asbestos exposure case, determining the company acted with malice. The verdict last week in Los Angeles County Superior Court ordered Foster Wheeler …
Eight years after making auto liability insurance mandatory, the Alabama Legislature could decide this week to increase the amount of insurance that motorists must buy. The proposal — $25,000 in insurance coverage for a single injury or death, $50,000 for …
