Ambac Financial Group Inc., which was the second-largest U.S. bond insurer before suffering huge losses on risky mortgages, filed for Chapter 11 bankruptcy on Nov. 8. The filing cements Ambac’s decline from a company that once guaranteed payments on more …
Industry’s $40M Research Center May Someday Lead to Lower Catastrophe Claims For those who question the intelligence of insurance companies, here’s a new industry development that should answer those questions once and for all: The insurance industry is ecstatic because …
Republicans made big gains across the United States – and the Midwest was no exception – in the November 2 midterm elections. Across the country, GOP gains gave the party its largest number of seats in state legislatures since the …
$2.4 Billion American International Group, Inc. (AIG) reported a net loss of $2.4 billion for the third quarter of 2010, compared to net income of $455 million in the third quarter last year. The loss was attributable to restructuring and …
A North Dakota insurance agent has pleaded guilty to conning a Grand Forks real estate company into paying more than $64,000 for nonexistent home policies. David Glessner of Grand Forks reached a plea agreement with prosecutors that calls for him …
Thousands of laborers, police officers, firefighters and other first responders suing New York City over their exposure to toxic World Trade Center dust had until Nov. 15 to decide whether to join a legal settlement over their injuries. The settlement …
Connecticut-based managing general agency Business Risk Partners has named Mark Bradway as director of broker relations. He has worked in specialty liability for over a decade. He began his career at wholesale broker Swett & Crawford in Los Angeles specializing …
Despite a public outcry over drivers who text, talk and e-mail that has prompted dozens of states to ban the practice, enforcing those laws is proving difficult. But Matthew Howard, co-founder and CEO of ZoomSafer, says his company has created …
Settlement Scramble “A lot of people appear to be making a last minute decision. It’s like tax day… there is going to be a lot of last minute wrangling.” —Paul Napoli, a leader of the legal team representing most of …
A Manhattan woman has failed to persuade a U.S. appeals court that Starbucks Corp. should be held liable for severe burns she suffered after spilling tea served in a double cup. The 2nd U.S. Circuit Court of Appeals has upheld …
