Embattled insurer American International Group agreed to revamp its bonus structure Saturday after Treasury Secretary Timothy Geithner objected to its plans to pay out substantial sums for 2008, Obama administration officials and the company’s chairman said. AIG, which has received …
Abram Interstate Insurance Services Inc. in Rocklin, Calif., is offering coverage for hard-to-place homeowners and dwelling fire risks in Arizona and California. The company will write older homes with no updates, homes in brush areas, homes in protection classes 9 …
A.M. Best Co. has removed the ratings from under review with negative implications and affirmed the financial strength rating of B+ (Good) and issuer credit rating of “bbb-” of Utah-based Great Western Insurance Company, but has assigned them a negative …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb+” from “a-” of Hong Kong’s Wing Lung Insurance Company Limited (WLI). The outlook for both ratings is stable. …
Beazley Group plc, an insurer of construction and engineering risks in the Lloyd’s market, has established a builders risk and engineered risk capability in the United States. Builders risk, commonly known as contractors all risks (CAR) and erection all risks …
Policyholders facing liability because of asbestos claims will benefit from a March 11 Texas state court ruling, according to the law firm Anderson Kill & Olick. Judge J. Manuel Bañales of the 105th Judicial District Court of Nueces County, Texas, …
Lawmakers in the Missouri State Senate have come up with a plan that would add tax credits for businesses that add jobs with above-average wages and health insurance. The plan is a dramatic overhaul of the job-creation bill backed by …
State Senate confirmation of judges in Oklahoma’s workers’ compensation system would be required under legislation approved by the state House of Representatives that was quickly condemned by a spokesman for Gov. Brad Henry, who appoints the state’s workers’ comp judges. …
The Washington Senate has approved a bill that would return some workers’ compensation insurance premiums back to employers who improve their safety records. Senate Bill 6035, which passed by a 25-24 vote, indicates that it “creates the retrospective rating program …
Higginbotham & Associates, an independent insurance brokerage firm based in Fort Worth, Texas, added employee benefits brokers John Collins, Dana Jones and Rob Marsh to its managing director team for 2009 in recognition of their contributions to the firm. With …
