Citing a strong capital position and current market conditions, Lloyd’s of London has offered to buy back up to 100 million pounds ($145 million) worth of bonds at a discount. The offer applies to fixed/floating rate subordinated notes due 2024 …
Florida’s surplus lines insurance brokers and carriers are encouraged that legislation to clarify the surplus lines industry’s regulatory status in the state has survived several committee hurdles and appears headed for a full vote this week in the House and …
Dry, windy conditions across Vermont are being blamed for brush fires, including one that destroyed a house in Lyndon. Vermont State Police Detective Sgt. Fred Cornell says the fire Monday in Lyndon — believed to have started with an outdoor …
A bill to increase the age for mandatory motorcycle helmet use in Maine has been given final approval by the Legislature and sent to Gov. John Baldacci for his signature. The bill, sponsored by Democratic Rep. Emily Cain of Orono, …
Most states, including California and Florida, are failing to adequately discipline doctors who are practicing substandard medicine, according to the latest annual ranking of state medical boards by the watchdog group Public Citizen. For the first time since Public Citizen …
It was bad enough when Matthew Norville rear-ended another driver, crushing the front end of his own car. A few weeks later, the Pensacola college student got a $714 bill to cover the cost of the county police and firefighters …
The California Department of Insurance (CDI) has secured between $37 million and $46 million in additional coverage from AIG for Sayre Fire survivors in Sylmar. Commissioner Poizner was joined by Los Angeles City Councilmember Richard Alarcón; Amy Bach, executive director …
Continental Marine Insurance Services, a division of Continental Risk Insurance Services, has a program for jet ski and boat rental. Coverage is offered through an admitted and “A+” rated carrier. Up to $1 million of watercraft liability coverage is available …
Rating organization A.M. Best Co. reported that its ratings and outlook of the property/ casualty subsidiaries of American International Group, Inc. (AIG) remain unchanged following the company’s announcement of the acceleration of its restructuring and rebranding of its global property/ …
American International Group, Inc. (AIG) today took the first steps to position the rebranding of its insurance units as an independent entity, AIU Holdings, by transferring the company to a special purpose vehicle (SPV) in preparation for the potential sale …
