Capacity returned in force to the global reinsurance market in 2009, as solid earnings helped to propel capital upward by 24 percent from the previous year, despite a softening market. Recovering from harsh blows delivered by the global financial crisis …
The U.S. Senate voted Monday to end debate on a bill to extend unemployment benefits and COBRA health insurance subsidies that also includes a reauthorization of the national flood insurance program. The vote to end a Republican fillibuster was 60 …
Can posting your opinion on eBay cost you in real life? So far Michael Steadman of Florida has spent $7,000 for his, and he isn’t yet done defending himself in a $15,000 defamation lawsuit brought by the man who sold …
Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg has asked a judge to dismiss a civil fraud lawsuit brought by New York’s attorney general, who is seeking to hold him personally liable for a sham reinsurance transaction. Greenberg …
American International Group Inc. “strongly objected” last year when U.S. pay czar Kenneth Feinberg imposed large cuts in the cash salaries of two of its top executives, regulatory filings showed Monday. Feinberg slashed the salaries of David Herzog, chief financial …
CNA Select Risk, which includes excess and surplus business, as well as wholesale property accounts, added to its transportation unit the newly-created Center of Excellence in Atlanta. The unit will focus on writing new types of risks, the company said. …
ACE UK has launched Environmental Protect, a policy offering coverage for both small to medium-sized companies and multinational operations. The new policy comes as submissions from regional and London market brokers across a range of risks continue to increase. ACE …
A California Department of Insurance examination has found that Mercury Insurance violated the state insurance statutes and as a result, Mercury Insurance may have illegally overcharged thousands of Californians for auto and homeowners insurance. “In addition, the Department’s examination finds …
Starr Aviation Agency, Inc. a subsidiary of C.V. Starr & Co. Inc., has acquired International Aerospace Insurance Services Inc. of Santa Barbara, Calif. The acquisition of Inter-Aero expands Starr Aviation’s distribution network as well as its suite of products, according …
Washington Insurance Commissioner Mike Kreidler has asked about 200 insurers to take part in a voluntary “market assistance plan” (MAP) to help businesses in the Green River Valley find adequate flood coverage. These plans work like a matchmaker, pairing companies …
