Despite the economic turmoil and the second worst year for insured natural catastrophe losses, the total cost of risk paid by businesses dropped in 2008 by 9.4 percent per $1,000 of revenue. The drop was largely attributable to lower average …
Global insurance broker Willis HRH has named Tom Gamble as National Producer. Based in New York, Gamble will be responsible for new business development, enhancing client retention, expanding existing relationships, and driving cross-selling opportunities with large, multinational clients based in …
Reno, Nev.-based Employers Holdings Inc. announced Standard & Poor’s will add it to the S&P 600 SmallCap Index. The S&P 600 is considered the preferred small capitalization-market index in the United States and is comprised of 600 leading publicly held …
Novato, Calif.-based Fireman’s Fund Insurance Co. is now offering a Surface Water and Flood endorsement to its Prestige Home Premier policyholders in Washington. Intense storms over the Pacific Ocean bring heavy rains to Washington each winter and spring. Weather conditions …
A Rhode Island man has pleaded guilty to fraud and tax evasion charges involving the theft of furniture from The Hartford insurance company. Thirty-five-year-old Michael Young of Coventry, R.I., pleaded guilty Wednesday to charges stemming from a kickback scheme with …
The Ninth Circuit Court has ruled that a California family was within their rights not to honor the sale of their insurance business because signatures were missing from the agreement. The court reversed a judgment finding against a San Bruno, …
A new law could save homeowners money when a hurricane off the Atlantic coast churns up weather strong enough to damage homes in Rhode Island but never reaches the state. Legislation signed last week by Gov. Don Carcieri prevents insurance …
Air France will compensate the families of the victims of a June 1 crash in which 228 people died, the company’s chief executive said on Friday. Flight AF 447 from Rio de Janeiro to Paris crashed into the Atlantic after …
International Group Inc. had questioned for years a retirement bonus plan for top managers because it was funded by a private company at no cost to AIG and that may have violated good governance standards, AIG’s former CEO Maurice “Hank” …
Several U.S. private equity firms and Taiwanese financial groups are showing early interest in the sale of AIG’s Taiwan life insurance unit, banking sources said on Friday, in a deal the seller hopes could raise around $2 billion. U.S. private …
