A Missouri River levee failed near Percival in southwest Iowa on June 30, the National Weather Service said. The breach, about a mile northwest of the town in Fremont County, had grown to about 200-yards-wide by 9 a.m., Iowa Homeland …
Homeowners Choice, a Florida-based provider of homeowners’ insurance, has named a familiar executive to be its new chief executive officer. The insurers’ board of directors announced that Paresh Patel, board chairman, will assume the duties of CEO, effective July 1. …
Record-breaking tornadoes devastated parts of the United States in April and May, generating substantial losses for insurance companies. Following is a list of maximum losses reported by some insurers and reinsurers for those events, ranked by size of loss. Where …
A Maryland jury in Maryland awarded plaintiffs suing Exxon Mobil more than $1.5 billion for a 2006 leak at a gasoline station, the Baltimore Sun reports. The Sun, quoting a source who had viewed the verdict, said the jury had …
Pennsylvania Gov. Tom Corbett has signed a change to the state’s worker’s comp laws that will allow insurers to write coverage for owners and partners of small businesses. Agents in state have long backed the change, which would extend insurance …
Maryland-based agency Palumbo Insurance Associates has named Edmund Thomas Palumbo account executive. Palumbo, a licensed insurance producer since 2007, worked in sales and insurance before joining the Marine Corps Reserve in 2008. He will be working with clients in all …
A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers, companies like Munich Re and Swiss Re …
Volunteers can help the Michigan Department of Natural Resources with more activities such as improving wildlife habitat, preserving wetlands and grooming trails under a bill Gov. Rick Snyder signed into law. Under the new law, volunteers will be able to …
A second bond company has reached a settlement in the state auditor’s investigation of former Alcorn County Supervisor Danny Crotts. RLI Insurance Co. has agreed to pay $31,809. The board of supervisors agreed to accept the payment. Travelers Insurance Co. …
MBIA Inc. may pursue a lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently misleading it about mortgage securities it insured, costing at least $1.4 billion. A New York state appeals court in Manhattan agreed with a lower …
