A.M. Best has downgraded the financial strength rating to B (Fair) from B+ (Good) and the issuer credit rating to “bb” from “bbb-” of auto insurer Greenville Casualty Insurance Co. based in Greer, South Carolina. The outlook for both ratings …
The Senate passed a bill that would make it illegal for insurance companies to deny policies or charge higher rates solely based on gun ownership. The bill passed on a 36-3 vote. Supporters have said some insurance companies would prefer …
Lawyers looking to sue General Motors Co. after its global recall of 1.6 million vehicles over an ignition defect may find their path blocked by a judge’s order five years ago in the company’s reorganization. Allegations about deaths or economic …
Bankruptcy law’s “safe harbor,” which prevents customers of defunct brokerages from being sued, applies even when the broker was engaged in fraud and violated multiple securities laws, the U.S. Court of Appeals in Chicago ruled. The 31-page opinion by U.S. …
Norwegian car carrier Hoegh St. Petersburg has reached the area in the southern Indian Ocean off Australia where two floating objects, suspected to be debris from the missing Malaysian jetliner, were spotted, the ship’s owner said on Thursday. The car …
Munich Re posted the following summary of its results for the financial year 2013: — Operating result of €4.4billion from (€5.3 billion) [$6.07 billion from $7.32 billion]. — Despite low interest rates and the adverse effects of exchange rates, shareholders’ …
The disappearance of Malaysian Airlines flight MH370 has prompted calls for in-flight streaming of black box data over remote areas, but industry executives say implementing changes may be complex and costly. Mark Rosenker, former chairman of the U.S. National Transportation …
Fierce solar blasts that could have badly damaged electrical grids and disabled satellites in space narrowly missed Earth in 2012, U.S. researchers said on Wednesday. The bursts would have wreaked havoc on the Earth’s magnetic field, matching the severity of …
Willis Group Holdings plc announced that it has opened a representative office in Myanmar that signals its commitment to the country’s growing insurance industry. Willis said the “office in Yangon will support Willis’s multinational and Asian client base, and also …
Energi, a Massachusetts-based industrial reinsurance company, which provides risk management and insurance programs for the energy industry, announced that it will provide an Energy Savings Warranty (ESW) for the Toronto Atmospheric Fund (TAF) for energy efficiency retrofit in Toronto, Ontario. …
