RSA Insurance Group PLC said that it plans to cut 1,200 jobs as it reported a 7 percent fall in its full-year profit. For the year ending Dec. 31, RSA reported a profit of 586 million pounds ($831 million), down …
A former finance chief of insurance company Swisslife Holding has been charged with multiple counts of embezzlement and fraud, prosecutors in Zurich said Thursday. Dominique Morax, who was Swisslife CFO from 1997 until 2002, is accused of involvement in alleged …
The U.S. government may agree to finance the purchase of some American International Group Inc businesses and take direct stakes in others, a person familiar with the matter said Thursday. The wide range of options under discussion between the insurer …
Associated Agencies Inc. named Max “Skip” Schrayer as president of Associated Agencies Inc. Schrayer also serves as president of Auto and Home Insurance Agency. As president of these two companies, he oversees every aspect of commercial and personal insurance for …
California Attorney General Edmund G. Brown Jr. filed a lawsuit to stop the Contractors Asset Protection Association Inc. from engaging in what he called a “sophisticated and fraudulent scheme” to cheat the state workers’ compensation system. This lawsuit seeks a …
Duped home buyers could sue the sellers for fraud under a bill approved by the Wisconsin Senate. The bill would reverse a Wisconsin Supreme Court decision last year that barred civil fraud lawsuits stemming from residential home sales. Dissenting Justice …
Reinsurers have begun 2009 determined to wrest back the initiative from a period of softening rates and savagely declining investment returns. As a consequence, underwriters are increasingly being governed by the financiers dictating a return on capital and forcing through …
Zurich North America Commercial will begin accepting new business in 11 South Central and Southeastern states through its new Zurich Integrated Products unit, which services commercial customers in between the small-to-middle market segments. Effective immediately, agents and brokers can submit …
General Re Corp., a reinsurance unit of billionaire Warren Buffett’s Berkshire Hathaway Inc., agreed to pay $72 million to settle investor claims about its role in a fraudulent transaction involving American International Group Inc. The settlement was announced Wednesday by …
An Arkansas Appeals Court has upheld the ruling of the Arkansas Workers’ Compensation Commission that the night manager of a grocery story is entitled to workers’ compensation benefits for injuries sustained when he walked a 16 year-old employee to her …
