Credit rating agencies have warned the European Commission that they could stop rating risky countries if the EU executive goes ahead with plans to make them legally liable for errors of judgment, industry sources said. Tensions have been rising between …
The Cooper Gay Swett & Crawford Group (CGSC) has released its first combined results since the two brokers completed their merger agreement last July. The Group reported Fees and commissions of $340 million, underlying *EBITDA of $68 million, and net …
Jacobson Group, the Chicago-based insurance executive search firm, announced that it has concluded an affiliation with ejsSearch a London-based firm focused on executive-level assignments in the UK, Europe, and internationally. Jacobson described the affiliation as designed to “best support its …
Catastrophe modeling firm AIR Worldwide has released an enhanced typhoon model for the Northwest Pacific Basin. AIR said the “model, which was released in Version 12.5 of AIR’s CLASIC/2™ and CATRADER® software, features a comprehensive catalog of simulated storms to …
Liberty Mutual Group announced that, through its wholly owned subsidiary Liberty Insurance Company Limited, it has been granted approval to establish a branch in Guangdong Province by the China Insurance Regulatory Commission (CIRC). Liberty’s headquarters in China in Chongqing, received …
A report from Willis Re, the reinsurance brokerage arm of Willis Group Holdings, notes that “relatively orderly price movements at the April 1 Japanese reinsurance renewals reveal that the Tohoku Earthquake is not the catalyst that will bring about a …
BoatU.S. and CNA have added new policy benefits for recreational boaters across the country. A few of the new policy benefits available to policyholders include: Diminishing Deductibles, which automatically discounts the hull deductible by 25% each year the policy remains …
Arkansas Attorney General Dustin McDaniel has filed a lawsuit against a Conway roofing company for allegedly engaging in a Ponzi scheme that defrauded Arkansas consumers of more than $250,000. Dustin alleges Conway Roofing aggressively pursues new customers who pay significant …
Agents and adjusters have completely different roles in the insurance industry but as intermediaries between insurance companies and their customers they have one critical thing in common: They often get pulled into claims lawsuits even though they’ve done nothing wrong. …
The Federal Reserve rejected a $15.7 billion bid from insurer American International Group for a pool of mortgage-backed securities Wednesday and said it will sell off the bonds over time instead. The news is a blow to AIG, which has …
