Property owners insured in the Mississippi wind pool may soon find some relief from rising premium costs with the transfer of $19 million from the Mississippi Insurance Department to the Mississippi Windstorm Underwriting Association, the official name for the wind …
Virginia-based specialty insurer Markel Corp. announced that its president and chief operating officer, Paul W. Springman, has resigned. Springman had been on a leave of absence since late October, Alan I. Kirshner, chairman and chief executive officer, said: “We appreciate …
The New York State Insurance Department has ordered insurers Homesite Insurance Co. and Security Mutual Insurance Co. to offer to reinstate at total of 260 homeowners’ policies across the state. Regulators say the insurers improperly cancelled or non-renewed the policies. …
Global insurance broker Aon Corp. is taking what it says is its most significant step ever in realigning its brokerage operations to meet its retail clients’ needs for access to insurance markets, risk transfer options and risk management services. The …
A federal judge in Kentucky has given preliminary approval to a settlement between Countrywide Financial Corp., and millions of customers whose detailed financial information was exposed in a security breach. Under the terms of the settlement, Countrywide, now owned by …
A Spokane, Wash., man has filed a $500,000 lawsuit against the state of Idaho for injuries he says resulted from a crash caused by potholes on Interstate 90 in northern Idaho. Kasey Crick, 22, filed the lawsuit Dec. 18 after …
A top executive of American International Group Inc. has been granted a $4.3 million pay-package bump by the troubled insurance giant’s majority owner — the U.S. government — because the executive has decided to remain with the company. Kenneth Feinberg, …
Mississippi Insurance Commissioner Mike Chaney said he’s taking steps aimed at discouraging companies from seeking higher rates for the Gulf Coast or other specific areas of Mississippi. Chaney said he will require insurance companies initially file requests for rate increases …
California Republican gubernatorial hopeful Steve Poizner is following through on a pledge to tap his personal fortune to help his struggling campaign. Campaign finance reports show the state insurance commissioner sent $15 million from his family trust to his account …
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate source on board the vessel said. The De Xin Hai and its 25 …
