Embattled insurer American International Group paid some $454 million in previously undisclosed performance bonuses to employees for 2008, the company said in answers to questions from a U.S. lawmaker that released Tuesday. AIG was widely criticized for paying out some …
The United States needs a council of regulators to oversee threats to the financial system, in addition to a regulator to supervise the largest financial institutions, the head of the U.S. Federal Deposit Insurance Corp said. In testimony prepared for …
Munich Re announced first quarter 2009 profits of €420 million ($560 million), compared to €777 million ($1.035 billion) in the same period of 2008. However, the Group’s bulletin forecast premium increases in 2009. CFO Jörg Schneider stated: “In view of …
The Board of Directors of the Nonprofits’ Insurance Alliance of California (NIAC) has declared a dividend to be paid to nonprofit members in California. During 2009 and 2010, a dividend of $4.2 million will be paid to 3,516 nonprofits insured …
A Northern California Newspaper Chain has named Thoits Insurance one of the Best Places to Work in the Bay Area. Ranked 20th in the 50 to 100 employees category, this is the third time that Thoits has been on the …
Seattle-based Safeco Insurance Co. will be required to disclose which customers it surcharged due to their lack of prior continuous automobile insurance coverage, the California Court of Appeal in Los Angeles has ruled. According to Safeco Insurance Company of America …
A bogus Twitter account set up five weeks ago in the name of Idaho Gov. C.L. “Butch” Otter has been shut down — only to reopen with the real governor sending out tweets. The popular social networking and micro-blogging site …
Insurance Journal is on the search for the nation’s leading privately-held property casualty independent agencies and brokerages for its annual Top 100 Property/Casualty Independent Insurance Agencies report. Now, agencies have three ways to qualify: Top Overall Independent Agencies, Top Commercial …
HCC Insurance Holdings Inc. announced that W. Tobin Whamond, presently a managing director in Wachovia Capital Markets’ Mergers and Acquisitions Group and head of Financial Institutions Mergers and Acquisitions, has been named an executive vice president and will become HCC’s …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of The Harford Mutual Insurance Companies and its two P/C pool members, The Harford …
