Michigan Gov. Jennifer Granholm’s call for auto insurance companies to freeze their rates has won over eight companies thus far, although they are insurers with small share of the market in the state. In a Feb. 3 order, Granholm asked …
A rash of cattle thefts in southwest Missouri has prompted two organizations to offer a total of $10,000 in rewards for help catching the crooks. Authorities report that hundreds of animals have been loaded onto trucks and driven away from …
People caught driving drunk in Kentucky just once could be forced to install breath-alcohol monitoring devices in their cars, as the state’s lawmakers consider joining other states, including Alaska, in toughening DUI laws. House lawmakers are considering proposals aimed at …
The Alabama House has passed a bill that would prohibit motorists from sending or reading text messages on a cell phone while driving. The bill by Rep. Jim McClendon of Springville passed the House 92-4. It now goes to the …
A U.S. Army Corps of Engineers official says a proposed $160 million flood-control project along the Greenbrier River in West Virginia’s Pocahontas County could be approved soon. Talk of the project started more than a decade ago after Marlinton was …
American International Group Inc., facing massive losses and seeking fresh funds, may be willing to give up control of its prized Asian division, worth about $20 billion, said sources with direct knowledge of the matter. Advisers have signalled the embattled …
W. R. Berkley Corp. announced the formation of Berkley Agribusiness Risk Specialists, a new division of its Continental Western Group, LLC. Based in Des Moines, Iowa, Berkley Agribusiness Risk Specialists will operate nationally and offer property and casualty insurance products …
Insurance broker Marsh, has created what it says is of a one-of-a-kind property insurance program that can provide up to $500 million of annual capacity, in the aggregate, for windstorm losses incurred by all participating oil and gas companies operating …
Global reinsurance specialist Guy Carpenter Co., LLC has been awarded a grant by the Microinsurance Innovation Facility to develop a reinsurance facility for microinsurance and microfinance company operations (MFIs). MIF, a partnership between the International Labour Organization and the Bill …
Insurers are increasingly using scenario analysis to evaluate multiple risks, but the industry could do more to fully exploit state-of-the-art approaches, according to Swiss Re’s new sigma study. Scenario analysis helps insurers make business decisions by considering a number of …
