John Paulson, a billionaire hedge fund manager and the largest shareholder of The Hartford Financial Services Group, says the company’s plan to exit most of its life insurance businesses is a good start — but just a first step. Paulson …
Famed investment banking and securities firm Goldman Sachs is planning to get into the financial guarantee insurance market, according to a media report. Financial Times reported this week that Goldman Sachs had placed ads to hire New York-based staff for …
It looks like the courtroom battle has ended for the New York State’s broker compensation disclosure regulation. Earlier this month, the New York appeals court agreed with the lower court and said insurance regulators were within their rights to issue …
The Connecticut Insurance Department is advising homeowners to prepare their property against potential springtime weather risks, such as excessive rainfall and flooding. The state’s insurance commissioner Thomas Leonardi says it’s essential for homeowners to understand their coverage – what they …
Delaware insurance regulators say failing to create a detailed home inventory can put homeowners at risk for inadequate home insurance coverage, should severe weather strike. The regulators pointed to a recent survey from the National Association of Insurance Commissioners (NAIC), …
The birth control coverage in religious institutions’ health plans has become a controversial topic. A number of religious organizations and Republican politicians cried foul when President Obama moved to mandate that religious-affiliated institutions — such as hospitals and universities — …
The Risk & Insurance Management Society is applauding the New York appeals court for upholding the broker disclosure rule. “Consumers deserve the same transparency and information from their insurance brokers that is required of any other financial entity in order …
A New York appeals court recently affirmed a lower court’s ruling that a homeowner was not entitled to coverage under the policy from the National Flood Insurance Program because he failed to follow the proof-of-loss requirement. The case involves Robert …
Dishonest doctors and medical mills in New York better watch out! Following highly publicized crackdowns of major auto insurance fraud rings in the state, Gov. Andrew Cuomo unveiled a statewide initiative this month to bring down fraudsters that plague New …
Liberty Mutual said it will continue its legal fight even after a federal judge formally approved a $450 million workers’ compensation class-action settlement between AIG and its rival companies. The class action alleged that American International Group (AIG) and its …
