Iowa Sen. Chuck Grassley wants Midwest disaster victims to have more to time to benefit from tax relief intended to help with the repair or replacement of damaged homes. Grassley has introduced legislation that would extend the deadline for applying …
Allen Stanford, who faces U.S. criminal and civil charges for allegedly leading a $7 billion Ponzi scheme, is suing Lloyd’s of London for defense costs. Lloyd’s had advanced some legal fees under a directors and officers policy. But the insurer …
American International Group Inc., the insurer that received billions of dollars in a U.S. bailout, has been authorized by its board to pay Chief Executive Robert Benmosche’s $7 million compensation, after it laid to rest concerns that he may quit …
A.M. Best Co. has downgraded the issuer credit ratings (ICR) and senior debt ratings to “ccc” from “b-” of Canadian insurer Kingsway Financial Services Inc. (KFSI) and Kingsway America Inc. (KAI), which is based in Illinois. Best also downgraded the …
The Bermuda-based Max Capital Group has appointed David Kalainoff as President of Reinsurance Operations. He joined Max in 2003, most recently serving as Managing Director Reinsurance and Executive Vice President and Chief Underwriting Officer, Casualty Reinsurance of Max Bermuda. Kalainoff …
Marsh’s London office announced that it has launched a new errors and omissions (E&O) insurance product for the suppliers of lottery and gaming (gambling) organizations. The new product, created by Marsh’s Financial and Professional (FINPRO) Practice in London, is available …
Salt Lake City-based The Buckner Co. has entered into a definitive agreement to purchase Flying J Insurance Services effective Jan. 1, 2010, continuing President Terry H. Buckner’s vision to grow Buckner’s insurance brokerage business by offering select niche market programs. …
Honolulu-based Island Insurance Co. Ltd. has launched its new Employment Practices Liability Insurance (EPLI) and Cover Choice products for small to mid-sized businesses. The products are designed to protect employers from liability damages and defense costs associated with employment related …
Momentous Insurance Brokerage of Van Nuys, Calif., has launched a restaurant insurance specialty practice. Some of the risk management services offered include contract review, loss control and inspection, in-house claims services and access to a Forms and Resource Library. As …
AIG Hawaii Insurance Company, Inc. has announced that it is changing its name to Farmers Insurance Hawaii, Inc. – heralding in a new chapter in the company’s nearly 55-year history – and reflecting its new ownership under national insurer Farmers …
