Federal inspectors missed obvious problems and failed to follow procedures at the Sago Mine in West Virginia and two other underground coal mines where 19 men died in high-profile accidents last year, the Mine Safety and Health Administration said. Numerous …
Bermuda’s reign as the undisputed global leader among captive domiciles is being challenged by U.S. companies that are increasingly leaning toward onshore domiciles for their captive insurance companies. That is among the findings of Aon’s new Global 1500 (G1500) research …
The Massachusetts Appeals Court has ruled that friends who meet regularly after work for drinks cannot be held liable for injuries caused when one of the members of their group drives home intoxicated. The court ruled that the friends were …
Rating commission to be abolished; insurer incentive plan approved Louisiana’s Legislature in June approved a package of insurance bills promoted by Louisiana Gov. Kathleen Babineaux Blanco and Insurance Commissioner Jim Donelon. Among the bills passed were one that provides for …
Thousands of coastal North Carolina residents could see insurance rates surge this fall as state regulators weigh higher insurance costs against the rising cost of protecting homes. The North Carolina Building Code Council has balked at new international building codes …
The U.S. Supreme Court last month imposed a strict standard that investors must meet to keep alive their lawsuits alleging securities fraud. In an 8-1 decision, the justices said that courts must weigh possible innocent explanations for defendants’ conduct at …
An insurance company that paid workers’ compensation to a Thetford, Vermont, bank employee traumatized in a hostage-taking incident is seeking to recover the money from the family of the teenager charged in the incident. Dan Eaton, 16, is serving a …
The Texas Windstorm Insurance Association (TWIA) in early June submitted a proposal to the Texas Department of Insurance for the purchase of $1.5 billion in reinsurance under a three-tiered program. On July 11, Texas Insurance Commissioner Mike Geeslin approved the …
Negotiations have produced a landmark $660 million settlement between the Roman Catholic Archdiocese of Los Angeles and more than 500 alleged victims of clergy abuse has concluded, with insurers picking up a large part of that tab. Attorneys from both …
The Bush administration plans to review the U.S. government’s regulatory system for financial institutions with the goal of making changes to better reflect modern markets. Treasury Secretary Henry Paulson said the review, which will be conducted by officials at his …
