Bank holding companies’ (BHC) insurance brokerage income overall experienced a 3.6 percent drop in 2008, the first decline in total BHC brokerage income since 2001, according to a new industry report. “BHCs with assets greater than $10 billion, and, principally, …
The Main Street America Group has launched a new personal auto rating program in New York, Virginia, Michigan and Rhode Island. The Jacksonville, Florida-based insurer says its Personal Auto MVP rating program uses “predictive modeling” or “multivariate” rating methods to …
Georgia’s top insurance regulator said Atlanta homeowners could be paying 10 percent more for their insurance unless the city hires more firefighters and shows it training is up to snuff. Georgia Insurance and Fire Safety Commissioner John Oxendine revealed the …
Florida’s insurance regulator has approved a rollback of workers’ compensation insurance rates from April 1 rates to the lower rates that were in effect on Jan. 1. The order by Florida Insurance Commissioner Kevin McCarty came as a result of …
A Florida jury has awarded $30 million to a Pensacola widow in a ruling against R.J. Reynolds Tobacco. Lawyers for Benny Martin, who died of lung cancer in 1995, said the tobacco company conspired to make their products more addictive …
American International Group Inc. has reached a deal to sell two New York buildings, including its downtown Manhattan headquarters, a source familiar with the matter said Tuesday. The buildings being sold are located at 70 Pine Street and 72 Wall …
Aon has just issued the latest version of its “Terrorism Threat Map.” The most significant change from previous maps shows a “shift in Islamist terrorist activity from the Middle East to South Asia.” The new map shows a trend towards …
Standard & Poor’s Ratings Services has revised its outlook on German reinsurer Hannover Rueckversicherung AG and its subsidiaries (collectively Hannover Re) to negative from stable. S&P also affirmed the ‘AA-‘ long-term counterparty credit and insurer financial strength ratings on Hannover …
American International Group, Inc. (AIG) announced that it has entered into an agreement to sell 100 percent of its shares in its consumer finance operations in Argentina, consisting of Compania Financiera Argentina S.A. (CFA), Cobranzas y Servicios S.A. and AIG …
The spread of H1N1 flu in Australia, Britain, Chile, Japan and Spain has nudged the world closer to a pandemic, the World Health Organization said on Tuesday. The newly-discovered strain had caused more infections than seasonal influenza at the start …
