Fitch Ratings agency is advising that the Florida property insurance market is “fragile” and remains a “peak risk zone.” The Florida assessment is included in a Fitch report for investors right before the 2009 hurricane season starts and right after …
A New Hampshire state employee has been sentenced to two years in federal prison and pay back more than $164,000 to clients she defrauded in her previous job as an insurance agent. Raye Ellen Douville of Bedford, who had pleaded …
American International Group, Inc. (AIG) announced that six new independent director nominees will stand for election at the AIG 2009 annual meeting of shareholders scheduled on June 30. The six new nominees are Harvey Golub, Laurette T. Koellner, Christopher S. …
The Obama administration is studying a long-discussed proposal to create a U.S. agency that would protect consumers who buy financial products, possibly as part of a major package of reforms, congressional aides said on Tuesday. The proposal, offered as legislation …
A federal court has approved the distribution of more than $843 million to harmed investors at insurer American International Group, the U.S. Securities and Exchange Commission said Tuesday. The court estimates that checks will soon be mailed to more than …
Standard & Poor’s Ratings Services said that its ratings on Hong Kong-based American International Assurance Co. Ltd. (AIA; A+/Developing/–) and American International Assurance Co. (Bermuda) Ltd. (AIAB; local currency A+/Developing/–) “were not affected by the announcement of an accelerated separation …
The European Union and China hope to relaunch their political and economic relations at a summit on Wednesday and create a “new global order” to combat the financial crisis, dwindling world trade and climate change. The last scheduled EU-China summit …
San Diego – (May 20, 2009) – Acquiring new customers, reducing costs, finding new ways to do business, are all increasingly important in today’s economy and are the reason for the success of the Exchange Conferences hosted by Insurance Journal’s …
Simon Noonan, senior vice president and president of Bristol West Holdings Inc., a subsidiary of Farmers Group Inc., has been promoted to chief operating officer of Farmers Business Insurance. Noonan joined Bristol West Holdings in 2002 as senior vice president …
A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit ratings to ‘bbb+’ from ‘a-‘ of Oklahoma Farm Bureau Group and its members, Oklahoma Farm Bureau Mutual Insurance Company and AgSecurity Insurance …
