Natural catastrophes and financial upheaval drove a sharp reversal in the property/casualty industry’s fortunes in 2008, and the effects spread to A.M. Best Co.’s rating activity, as upgrades barely outpaced downgrades after a strong positive trend in 2006 and 2007, …
Venture Insurance Programs launched an all-lines insurance and risk management solution for hunting and fishing resorts, lodges and private clubs. The Sportsman insurance program provides coverage solutions for resorts, lodges, plantations and private clubs whose primary purpose is related to …
Authorities say Connecticut will spend nearly $1 million to replace breath analysis devices used by police to test suspected drunk drivers. State officials signed a contract last month with Draeger Safety Diagnostics of Irving, Texas, for $975,000 for 150 new …
A Valley Stream, New York insurance agent has been named the first-ever winner of the “1882 Fellow Award” from the Independent Insurance Agents & Brokers of New York (IIABNY). Steven Spiro, president of Spiro Risk Management, was given the award …
A Florida jury ruled last Thursday that a smoker’s death was caused by his addiction to cigarettes, a legal setback for cigarette giant Philip Morris in the first of potentially thousands of cases to go to trial. The jury in …
Prosecutors told a federal jury Friday that Montgomery insurance executive John Goff stole millions to finance a lavish lifestyle. Defense attorneys said Goff was indicted for what was simply a business dispute with two subsidiaries of XL America Corp. The …
Chicago touted its financial strength in its 2016 Olympic bid Friday, with organizers saying they have at least a $1 billion safety net if the games exceed an estimated $4.8 billion price tag. Chicago is competing against Tokyo, Madrid and …
A bill that cleared the Mississippi Senate on Friday would make it more difficult to file a negligence lawsuit. Under the bill, an expert’s statement of merit would have to be included in any complaint alleging professional negligence. The statement …
State transportation officials are immune from a lawsuit filed by a brother of Gov. Mike Rounds over a fatal highway crash, the South Dakota Supreme Court says. The court’s 3-2 decision said the 2004 accident was tragic but that sovereign …
Reinsurers’ tough talk about raising prices on the risk cover they sell to insurers may have rung hollow before, but this time the promise is credible. Reinsurance companies such as global leader Munich Re have been flexing their muscles, predicting …
