New York’s highest court Tuesday revived a lawsuit by several large banks challenging bond insurer MBIA Inc.’s 2009 restructuring, which they complained was unfair to policyholders. MBIA shares fell as much as 7.1 percent. The restructuring, approved by New York’s …
The fact that U.S. property/casualty insurers’ earnings have taken a hit due to recent catastrophe losses should not by itself mean insurer ratings will change, according to one rating firm. As long as the insurers that its actuaries rate have …
Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor announced that former insurance agent Alexis Prokup, of Perrysburg, Ohio, has been sentenced after pleading guilty to theft. Department of Insurance investigators found that Prokup submitted more than 20 fictitious …
Missouri Gov. Jay Nixon appointed Labor and Industrial Relations Commissioner John J. Hickey to serve as director of the Division of Workers’ Compensation at the Missouri Department of Labor. He will fill the position that Brian May held as acting …
Drivers entering a roundabout who fear they’re about to crash are not paranoid. Although the rotaries are built to ease congestion and lessen serious injuries, data obtained by the Albany Times Union show the number of collisions increased after most …
Esurance, the online car insurance company, said that it is partnering with Security First Insurance Co. as an underwriter to offer homeowners insurance in Florida. The move comes a little more than a month after Allstate Insurance announced it is …
Global insurance broker Lockton has opened a Memphis risk management and employee benefits operation. Joe Lammel, a long time insurance brokerage executive, will lead the office as executive vice president. Lammel spent more than 30 years with insurance broker Marsh, …
Patricia Roth has joined XS Brokers Insurance Agency Inc., a Northeast excess and surplus lines wholesale brokerage and managing general agency firm based in Quincy, Mass. Roth has joined the firm’s senior management team as an executive vice president in …
A judge has ruled that the maker of tear gas used in a 2006 Jackson police raid must pay $1.1 million to five children of a woman who died after inhaling the fumes. Hinds County Circuit Judge Winston Kidd ruled …
Mississippi officials said the state budget is in good shape to survive this spring’s twin natural disasters of tornadoes and river flooding. The state still has tens of millions of dollars set aside from Hurricane Katrina recovery, and top lawmakers …
