Concord, New Hampshire-based Phenix Mutual Fire Insurance Co., will become an affiliate of The Motorists Insurance Group, Phenix announced. The agreement must be approved by regulators in New Hampshire and Ohio, where Motorists is headquartered. Phenix, which operates in New …
TD Insurance Inc. has hired Linda Bogardus as an account manager in the Core Division of Commercial Lines. Bogardus, who is based in Burlington, Vermont, will oversee marketing and servicing large commercial insurance accounts throughout the region. She has more …
Too many regulators currently watch over U.S. companies and a fear that some industries may soon face even more rules could be hurting the U.S. recovery, two top financial industry executives said. “We need a lot fewer regulators,” Robert Kelly, …
AIG’s near collapse is a credit-crunch case study in how Europe can improve supervision of big cross-border insurers, a top EU market regulator said on Monday. The American insurer has received nearly $180 billion in government funds to prevent a …
A 33-year-old man faces arson charges for allegedly setting fire to two model homes in a new development outside Milton, Delaware State fire marshals arrested Victor Rodriguez of Milton. No one was injured in the fires, which were set early …
Businesses and nonprofits are being urged to examine their ability to operate in the event of a flu pandemic. With the federal government declaring Swine Flu a public-health emergency, the Institute for Business & Home Safety (IBHS) says it would …
Corporate America’s reputation plunged in the eyes of average Americans last year, as the rush of companies to Washington for financial support soured popular support for big business. Eighty-eight percent of respondents in a survey said business’s reputation was either …
Bermuda-based PartnerRe Ltd. posted net income of $141.5 million, or $2.32 per share on a fully diluted basis for the first quarter of 2009, compared to $129 million in the same period of 2008. “Net income includes net after-tax realized …
A study, published by Marsh, finds businesses continue the trend to self-insure through captives. “Despite the global economic recession and continued soft commercial insurance market, businesses in all parts of the world continue to use captive insurance companies as mechanisms …
German insurer Allianz and U.S. credit card group American Express raised a combined $1.9 billion on Tuesday through the sale of shares in Chinese banking giant Industrial and Commercial Bank of China (ICBC). The move was expected, as the two …
