Maine Gov. Paul R. LePage and Insurance Superintendent Eric Cioppa announced Thursday that the Bureau of Insurance has approved the National Council on Compensation Insurance Inc.’s (NCCI) 2014 loss cost for Maine, filed earlier this month, which proposed a premium …
The White House announced steps on Thursday designed to reduce frivolous patent lawsuits by trying to make it easier to identify who owns patents and by updating review processes to ensure that fewer weak patents are granted. Major technology companies …
Allstate Corp., the largest publicly traded U.S. home and auto insurer, increased its agency count for the first time since 2007 as the company targeted growth beyond the U.S. East Coast to diversify risk. The insurer had 11,600 Allstate-exclusive agencies …
A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Singapore-based AIG Asia Pacific Insurance Pte. Ltd. (AIG APAC) and its fully-owned subsidiaries, AIG Australia Limited (AIG Australia) and AIG Insurance …
A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of UK-based AIG Europe Limited (AEL), a wholly owned subsidiary of American International Group, Inc. (AIG), both with stable outlooks. The report is …
The El Nino weather pattern, which can trigger drought in some parts of the world while causing flooding in others, is increasingly likely to return this year, hitting production of key foods such as rice, wheat and sugar. El Nino …
AXA SA, Europe’s second-largest insurer, posted a 10 percent increase in 2013 profit on higher earnings at its life and savings and property and casualty divisions. Net income rose to €4.48 billion ($6.15 billion) from €4.06 billion [$5.568 billion] a …
Reinsurance rates, particularly for natural catastrophe coverage, probably won’t increase this year, said Swiss Re Ltd.’s chief financial officer. Prices will only begin to rise again when there is some “capital depletion” because of market volatility or a costly disaster …
Insurance trade groups this week welcomed the New York Court of Appeals’ reversal of its June 11, 2013, decision on K2 Investment Group, LLC v. American Guarantee & Liability Insurance Co., a case that has been closely watched by the …
