U.S. businesses and government agencies are facing increasing risks of potential cyber attacks from China, according to a recent report. And IT departments that react defensively to such attacks may not be doing enough to prevent a “long term, sophisticated …
In a victory for ratings agencies, a U.S. judge Tuesday dismissed claims against Moody’s Corp. and McGraw-Hill’s Standard & Poor’s in litigation over nearly $100 billion of Lehman Brothers Holdings Inc. mortgage-backed securities. Investors had accused the agencies of serving …
Former U.S. Treasury Secretary Henry Paulson staunchly defended the decision to rescue troubled insurer American International Group Inc. in 2008 and said he and others involved acted properly. In testimony prepared for a hearing Wednesday of the U.S. House of …
U.S. Treasury Secretary Timothy Geithner flatly denied any role in counseling American International Group Inc. to keep quiet about payments it made to leading banks during a 2008 rescue of the stricken insurer. Geithner faces a grilling on Wednesday before …
A U.S. federal judge ordered insurer Lloyd’s of London Tuesday to pay for alleged swindler Allen Stanford’s defense. Stanford and three other defendants sued the insurer after Lloyd’s stopped providing coverage last year under a directors and officers policy, citing …
Florida Peninsula Holdings, LLC, the parent company of Florida Peninsula Insurance Co., reports it has completed its acquisition of Edison Insurance Group, including its two subsidiaries: Edison Insurance Co. and Edison Insurance Underwriters. The previously-announced acquisition includes more than 25,000 …
A January 2010 opinion editorial, “Don’t deregulate insurance: Consumers only ‘choice’ would be bad” bylined by three consumer advocates totally misses the mark on the benefits of the Consumer Choice bill. The measure, proposed by Sen. Mike Bennett and Rep. …
Emergency service volunteers that are injured while assisting with a state of emergency may be entitled to workers’ compensation benefits, according to the state Department of Consumer and Business Services. According to the amendment to House Bill 3021, if the …
The Illinois Department of Insurance has revoked the licenses to sell insurance of Daniel Martin Deitz of Bloomingdale and his Schaumburg-based agency Danny Martin CLU and Associates (collectively “Martin”) and imposed a $100,000 fine – the maximum penalties allowed under …
Tapco Underwriters Inc. (TAPCO), a Burlington, N.C.-based MGA specializing in high-volume, transaction-based excess and surplus insurance lines, is opening an underwriting service center in Dallas, Texas. Tapco veteran Ellen McBride will manage the Dallas office. McBride has more than 25 …
