New York authorities are suing 26 banks and two accounting firms that did business with Countrywide Financial Corp., saying the companies failed to ensure the beleaguered mortgage company was being honest with investors. The banks and accounting firms were added …
Maine Governor John E. Baldacci has nominated Mila Kofman as superintendent of the Maine Bureau of Insurance. Kofman has experience in the academic, government and not-for-profit sectors. She currently serves as Associate Research Professor at the Georgetown University Health Policy …
Following its decision to downgrade SCA and XL’s financial guaranty subsidiaries, Fitch Ratings announced that it has also downgraded XL Capital Ltd. and its P/C insurance reinsurance. Fitch lowered the Group’s Issuer Default Rating (IDR) for XL to ‘A’ from …
Fitch Ratings announced that it has downgraded the following ratings on Security Capital Assurance Ltd. (SCA) and its financial guaranty insurance subsidiaries: XL Capital Assurance Inc. (XLCA) XL Capital Assurance (U.K.) Ltd. (XLCA-UK) XL Financial Assurance Ltd. (XLFA) –Insurer Financial …
A.M. Best Co. and Standard & Poor’s Ratings Services have been reexamining their ratings on the Bermuda-based XL Capital. and its subsidiaries in light of recent announcements (See IJ web site https://www.insurancejournal.com/news/international/2008/01/24/86670.htm). Their main concerns are the current financial difficulties …
EADS, the European consortium that designs and builds the Airbus coimmercial aircraft, has selected Willis Group Holdings as the insurance broker for a new Airbus A320 final assembly line in Tianjin, China – the first of its kind outside of …
Tennessee Fire officials have submitted a report to the Knox County district attorney general on the status of the yearlong probe of the blaze that destroyed several historic warehouses. The row of brick warehouses along West Jackson Avenue in downtown …
The National Hurricane Center’s new chief said he would deal with problems behind the scenes and work to boost morale among staffers who helped oust the former director for his outspokenness. Bill Read, 58, had been the center’s interim deputy …
Mississippi health officials hoped to come with a plan last week to restore ambulance service in 23 counties left hanging when Alabama-based Emergystat shut down. Emergystat, based in Vernon, Ala., notified Mississippi officials Jan. 23 that it had halted operations. …
A Georgia doctor accused of treating patients with a chemical used in pesticides was sentenced to five years probation for health care fraud. Sentenced on Jan. 24, Dr. Totada Shanthaveerappa pleaded guilty Oct. 30 to defrauding health insurance companies by …
