“Claims made” coverage forms were created with a simple goal: the insurer paid the claims that were made during the policy period. Since the wrongful acts or errors of professionals (i.e. doctors, lawyers, insurance agents, etc.) do not result in …
The Bermuda-based Catlin Group Limited announced that Patrick Wills will join Catlin, effective May 5, as Deputy Chief Investment Officer, based in the group’s London office. Wills will work alongside Nylesh Shah, who also holds the title of Deputy Chief …
Michigan Treasurer Robert Kleine and Attorney General Mike Cox say Michigan has been named lead plaintiff in a class action lawsuit against American International Group Inc. (AIG). The State of Michigan Retirement Systems invested in AIG on behalf of more …
A Cedar Rapids corn milling company is suing a unit of insurance giant AIG and another company, accusing them of acting in bad faith for refusing to pay flood insurance claims. Penford Products Co. is one of many eastern Iowa …
An AIG unit and Countrywide Financial Corp., now part of Bank of America Corp., have sued each other, alleging breach of contract, in a dispute over insurance losses for subprime mortgage loans now in default. American International Group Inc.’s United …
Workmen rolled up their sleeves at American International Group Inc. this weekend to take down the most prominent sign at the downtown Manhattan offices of the embattled insurer that has become the scorn of America. A spokesman said the company …
California construction workers are more likely than workers in any other industry statewide to be chronically uninsured, according to a study by the Center on Policy Initiatives. Accrding to the report, the California construction industry is expected to gain more …
Thoits Insurance of San Jose, Calif., has promoted Paul Saich to CEO, effective immediately. Saich replaces Don Way, who has been with Thoits for 44 years, and will remain as chairman of the board. Saich joined Thoits Insurance in 1996 …
Montana State Auditor and Commissioner of Securities Monica Lindeen have sent a demand letter to AIG requesting information about the company’s finances and bonuses. Lindeen is asking her Securities Division to look into potential violations of Montana law, which specifically …
Pennsylvania Insurance Commissioner Joel Ario has approved a first-of-its-kind insurance discount for homeowners who have certain kinds of environmentally friendly technology in their houses. The discount, which goes into effect May 1, is for those insured with Donegal Insurance Group. …
