A Stamford, Conn.-based research and consulting firm has identified 10 technologies that will have the greatest impact for the property/casualty (P/C) insurance industry. Gartner Inc. said these technologies will challenge existing business processes, support the emergence of new business models …
South Korea’s Foreign Ministry said a South Korean-owned oil tanker with 24 sailors aboard is believed to have been hijacked by Somali pirates. The ministry said the hijacking is thought to have occurred on Sunday about 930 miles (1,500 kilometers) …
A bulletin from Marsh’s London office notes that in the wake of the global financial crisis, “businesses in all parts of the world are strengthening their risk governance, including management of their counterparty risk.” In the process of gauging the …
A Tesoro Corp. oil refinery blast and fire that claimed five lives is now the subject of state and federal investigations. The company, and the state Department of Labor and Industries has also launched its own probe. The refinery was …
U.S. oil refineries have an ongoing problem with accidents that turn deadly, losing four times as much money from such incidents than refineries in the rest of the world, according to an insurance company report obtained by The Associated Press. …
Investigators have seized a small fortune from a Mingo County, West Virginia doctor in a case that parallels last month’s raid of a Williamson pain clinic, court filings show. The U.S. District Court papers disclose that prosecutors are negotiating a …
The operator of a coal-mining company in Prestonsburg, Kentucky has been indicted on charges stemming from an alleged scheme to avoid paying workers compensation insurance. A federal grand jury in Lexington has charged Pamela Allen with five counts of mail …
A Manhattan federal judge threw out a class-action lawsuit accusing Moody’s Investors Service and Standard & Poor’s of defrauding investors about the safety of $63.4 billion of mortgage debt. U.S. District Judge Jed Rakoff also dismissed some claims against Bank …
Federal safety officials are advising homeowners with Chinese drywall to completely remove the tainted product and replace all electrical components and wiring, gas service piping, fire suppression sprinkler systems, smoke alarms and carbon monoxide alarms. The advice comes from the …
Ireland in general and Dublin in particular are in a financial crisis but the insurance and reinsurance sectors appear to be weathering the storm. In a recent interview, Sarah Goddard, CEO of the Dublin International Insurance Management Association (DIMA), said …
