Former AIG chief executive Robert Willumstad will forego stock awards he was granted as part of his agreement to step into the insurer’s top post last June, the company said in a regulatory filing on Tuesday. Willumstad led American International …
The Port Gibson, Mississippi Police Department was open Monday, three days after a payment lapse on an insurance policy forced its closure. Mayor Fred Reeves said the workers’ compensation insurance policy for Port Gibson had been canceled because the city …
Munich Re has released its annual report on the natural catastrophes that occurred in 2008, which it describes as “one of the most devastating years on record.” 2008’s major catastrophes included a number of tropical cyclones (hurricanes and typhoons) and …
The commercial insurance market cycle is close to its bottom and general commercial insurance prices will begin increasing by the fourth quarter of 2009 or the first quarter of 2010, according to a consultant to the global commercial insurance industry. …
The Association of British Insurers has issued a warning that, “people are increasingly putting their insurance cover at risk by cheating to get a better deal.” The ABI said its members, which include most of the UK’s P/C insurers, “are …
California’s Conservation and Liquidation Office (CLO) has distributed $121 million to policyholders and claimants from the liquidated estate of the Mission Insurance Companies, the California Department of Insurance reported. This distribution brings the total amount distributed from the Mission companies …
Los Angeles-based GNW-Evergreen Insurance Services LLC has hired Tom Scabareti as its new dedicated personal lines producer. He will be responsible for bringing insurance products, services and solutions to high net worth individuals throughout Southern California. “We believe the affluent …
Heavy-metal contaminants left by an Oklahoma zinc smelter that closed more than eight decades ago will be cleaned up through a $6.6 million plan chosen by the U.S. Environmental Protection Agency. The former Tulsa Fuel and Manufacturing site near Collinsville, …
Insurance bills rank as the second highest priority bill for Americans to pay on time, according to a new survey on the bill payment patterns of U.S. households. The third in a series, the survey of more than 1,000 nationally …
Louisiana Medical Mutual Insurance Company reported it will return a 20 percent dividend to all LAMMICO policyholders in Louisiana and Arkansas. Nearly 6,000 policyholders will be affected; the dividend amount is based on policyholders’ written premium as of Nov.21, 2008. …
