Reinsurer Validus Holdings Ltd missed second-quarter expectations, as underwriting income fell sharply and the company posted losses from the record-setting U.S. tornadoes of April and May. Validus is in the middle of a bidding war for competitor Transatlantic Holdings, having …
Forecasters at Weather Services International stuck with their earlier prediction that the 2011 Atlantic hurricane season would bring 15 tropical storms, with eight of those growing into hurricanes. Four of those were expected to strengthen into “major” hurricanes of Category …
Ohio-based independent broker Hylant Group has named industry Kimberly L. Riley as president of its Nashville, Tennessee office. Riley will be responsible for the overall management, direction and growth of the office. Riley brings 25 years of insurance experience to …
Iowa has received a waiver allowing an adjustment to some transitional Medical Loss Ratio (MLR) provisions of the federal Affordable Care Act in Iowa. The Department of Health and Human Services (HHS) granted the waiver request from the state insurance …
The natural gas shortage and record freezing temperatures that slammed New Mexico in February cost insurance companies $55 million in claims. A memo from the state Public Regulation Commission’s Insurance Division says homeowners received the most help, representing 7,422 of …
Reinsurance company Transatlantic Holdings Inc said Thursday it has filed suit against its unsolicited suitor, Validus Holdings Ltd., and rejected its offer as “inferior and highly conditional.” Transatlantic also established a poison-pill plan to keep anyone from taking control of …
The Indiana Court of Appeals has reversed a man’s conviction for operating a motor vehicle while suspended, saying the state didn’t prove the moped he was riding was a motor vehicle under state law. Court documents say Michael Lock was …
The number of traffic fatalities on Alaska highways is up from last year. The Department of Public Safety said that as of Monday, there had been 40 fatalities, nearly a dozen more than at the same time each in 2009 …
Federal officials say they intend to conduct their own review of Iowa’s health insurance rates because the state’s review of rates is insufficient. The Des Moines Register reports that Iowa is one of 10 states whose reviews were deemed too …
Randy McGee spent $28,000 in one month pumping water onto about 500 acres in West Texas before he decided to give up irrigating 75 acres of corn and focus on other crops that stood a better chance in the drought. …
