U.S. Vice President Joe Biden said on Tuesday that China had agreed to an important financial sector reform by opening up its massive auto insurance market to foreign competition. Biden said that during a meeting with U.S. business chiefs and …
Dozens of additional survivors of the Costa Concordia shipwreck off Italy have joined a Florida lawsuit that accuses the ship’s owners of gross negligence and fraud, and asks for at least $528 million in damages. An amended lawsuit was filed …
A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of Concord Group Insurance Pool and its member companies, Concord General Mutual Insurance Company, …
A report from the FUNDACIÓN MAPFRE, which analyzed 19 Latin American countries, concludes that the Latin American insurance market “achieved in 2010 a 19.3 percent rise in premium volumes compared to the preceding year, reaching €91.370 billion [$120.15 billion], confirming …
Marsh & McLennan Companies reported $256 million for its 2011 fourth-quarter net profit, up 26.1 percent from one year ago when it posted $203 million profit. For the 2011 full year, Marsh & McLennan posted net income of $993 million, …
The U.K.-based broker BMS Group appointed industry veteran Mike Hollenbach as executive vice president within its specialty casualty team. He will be based in Philadelphia. Hollenbach joins BMS from Towers Watson where he served as a senior account executive for …
Lloyd’s announced that it is estimating its overall net claims from the flooding in Thailand last year to be in the $2.2 billion range. The figure is based on an industry loss estimate of between $15 and $20 billion. The …
New York and 10 other states filed a lawsuit last Friday designed to force the U.S. Environmental Protection Agency to issue new regulations on soot pollution. New York Attorney General Eric Schneiderman said the lawsuit filed in U.S. District Court …
Insurance Commissioner Dave Jones marked his first full year in office last month by looking back on his and the California Department of Insurance’s accomplishments during 2011. Insurance Journal wants to know from those in the industry: Is Jones an …
A Bozeman, Mont. nurse who was fired after serving as a surrogate mother for a patient has settled her wrongful discharge lawsuit with Billings Clinic. Anicee Acosta-Yearick worked for Bozeman OB/GYN, which is owned by Billings Clinic, for 16 years …
