New European Union rules that shake up how insurers offset risk and protect policyholders must not be rushed despite a 2012 deadline, a senior British regulator said on Tuesday. European Commission proposals known as Solvency II are before the European …
New Hampshire’s chief justice is praising a new law that allows the state to create a business court and he’s hoping to have the new court operating this year. The court would handle only complaints between businesses and would not …
More than 20 lawsuits stemming from a massive security breach of Hannaford Bros. Co.’s computer system have been consolidated and assigned to a federal court in Maine. The case will be heard by U.S. District Judge D. Brock Hornby in …
A Warwick man who claimed he suffered brain damage because he didn’t receive proper care during open heart surgery at Rhode Island Hospital has won a $2 million award from a Superior Court jury. With interest, the award could be …
Standard & Poor’s Ratings Services has affirmed its ‘A-‘ junior subordinated long-term debt rating on the €250 million ($387 million) undated, subordinated notes issued by Austria-based Wiener Staedtische Versicherung AG Vienna Insurance Group (WSV AG; A+/Positive/–), following receipt of final …
The European Commission has proposed shaking up how the European Union’s insurance sector covers risk. Solvency II aims to protect policyholders better and spur competition in the 27-nation European Union while making more efficient use of capital in the industry. …
Toronto-based RBC Insurance announced that it has signed an agreement with Aon Reed Stenhouse that makes Aon its “exclusive broker for competitive and comprehensive commercial property and casualty and trade credit insurance solutions to Canadian business owners.” “RBC Insurance is …
Marsh’s London office announced that it has acquired the assets of The Nielsen-Wurster Group’s Construction Claims & Dispute Resolution business. “As part of the transaction, more than 30 Nielsen-Wurster professionals and staff will join Marsh, including Reza Nikain, president of …
In a recent address Callum McCarthy, the Chairman of the UK’s Financial Services Authority, took stock of the current regulatory regime for financial services in the UK. “The turbulence in financial markets – what the ECB’s [European Central Bank] President …
Lloyd’s asks: “How safe are cranes? And will the recent spate of accidents involving them increase rates for policyholders?” A major indication of a booming construction industry is the number of cranes that punctuate the skylines of cities from New …
