A southern New Jersey county has approved a $4 million settlement that could end a class-action lawsuit over strip searches done at its jail. The suit claimed unnecessary strip searches were conducted on thousands of men and women at the …
Maryland State Fire Marshals say a fire has destroyed a Manchester automotive company and 12 cars inside. There were no injuries. The fire began about 11:20 a.m. Friday when workers at Ron’s Automotive noticed the fire. About 100 firefighters from …
The Kentucky Department of Insurance is reviewing the operations of a nonprofit group that provides insurance for most of the state’s counties. The action came after a series of newspaper articles in the Lexington Herald-Leader about the Kentucky Association of …
The short-term success of Hannover Re’s bid to diversify away from risky businesses is hostage to the hurricane season, while further out, it is likely to lead to a positive re-rating of the shares. The world’s fourth-biggest reinsurer’s new chief …
ACE Bermuda International announced the launch of a new primary Warranty and Indemnity (W&I) insurance policy, designed to provide protection against financial losses arising from breaches of warranties and/or indemnities contained within a sale & purchase agreement. ACE said the …
Standard & Poor’s Ratings Services has revised its outlook on Bermuda-based insurance and reinsurance holding company Validus Holdings Ltd. to positive from stable, and has affirmed its ‘BBB-‘ counterparty credit rating on the holding company. However, in a separate bulletin …
According to catastrophe risk modeling firm AIR Worldwide, at 7:19 p.m. local time (11:19 UTC) on Thursday, July 9, a moderate earthquake struck China’s southwest Yunnan province. The USGS issued a moment magnitude of 5.7 and focal depth was estimated …
The Bermuda-based Argo Group International Holdings, Ltd. Has announced three executive appointments: — Kevin D. Silva as senior vice president of human resources, — Bernhard H. Scheifele as chief risk officer, and — Michael Fusco as chief actuary. Silva reports …
A.M. Best Co. announced that it has “withdrawn all public data (pd) ratings on UK insurance companies. Best last reveiwed the listed companies in December 2007. The financial strength ratings (FSR) and issuer credit ratings (ICR) of the following companies …
Aon Benfield announced that Energi Holdings, an industrial captive reinsurance company, has utilized its ‘CapTivate’ reinsurance solution to support Energi’s growth. Aon described the program as a “reinsurance product tailored specifically to captives, which has been developed by Aon Benfield’s …
