Validus Holdings has issued a statement in response to the decision by the Supreme Court of Bermuda not to expedite its lawsuit against IPC Holdings, Ltd. IPC Limited and Max Capital Group Ltd. (See related article above). The court rejected …
House Democrats are looking at big health care changes, including federal aid to help families earning up to $88,000 pay for insurance and a requirement that all must carry coverage. A document obtained by The Associated Press shows the plan …
Massachusetts Attorney General Martha Coakley says her office has settled a bid-rigging lawsuit lodged against Ohio-based Great American Insurance Co. The suit resolves allegations the insurer submitted a fake and intentionally uncompetitive insurance quote to Analog Devices Inc. of Norwood, …
The man who is letting insurance giant State Farm exit the state, which some fear will foster a property insurance disaster in Florida, gave the insurer an award this week for innovation and disaster mitigation. State Farm was recognized by …
The Delaware state Senate once again has blocked passage of a bill outlawing discrimination based on sexual orientation in Delaware. The bill, which passed the House in March, was the subject of a hearing Wednesday by the Senate executive committee. …
Bailed-out insurance giant American International Group Inc. says it’s taking offers for Stowe Mountain Resort in Vermont. AIG spokesman Peter Tulupman confirmed that the resort went up for sale Wednesday but gave few other details. He said AIG, which is …
A medical device maker has told shareholders it is settling out of lawsuits against Dr. John King, the one-time West Virginia osteopath at the center of scores of malpractice claims. Biomet Inc. has reached agreements with 24 of 27 plaintiffs …
At least four U.S. insurers won approval on Thursday to raise billions of dollars through the government’s bank bailout plan, the U.S. Treasury Department said. Hartford Financial , the No. 4 U.S. insurer and beset by worries about capital, got …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Japan’s Aioi Insurance Company, Limited, both with stable outlooks. “The ratings reflect Aioi’s stable underwriting performance, adequate capitalization …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of New York-based AXA Insurance Company, both with stable outlooks. Best also affirmed the FSRs of ‘B++’ (Good) and ICRs …
