New York-based global specialty insurer Alleghany Corporation said its investment management unit acquired a majority stake in manufacturing firm Bourn & Koch. Terms of the transaction were not disclosed. Alleghany, in addition to its core P/C insurance business, invests in …
A bill that would make certain local firefighters eligible for workers’ compensation coverage for mental or emotional damage has passed the Connecticut House of Representatives. State representatives voted 141-to-0 in favor of the bill Wednesday. It now awaits action in …
Genworth Financial Inc. said Tuesday that Chairman and CEO Michael D. Fraizer has resigned, and the board has tapped Chief Financial Officer Martin P. Klein to fill as CEO while it searches for a successor. Fraizer helped steer the insurer …
New Hampshire Attorney General Michael Delaney says homeowners hoping to benefit from a settlement over foreclosure abuses may have to wait several months to receive assistance. The state is expected to get $43.6 million under the settlement among 49 states …
A number of insurance attorneys from N.Y.-headquartered elite law firm Dewey & LeBoeuf have left the company this year, as the firm, well-known for its insurance work, grapples with high debt and partner compensation issues. This week, law firm DLA …
New York-based reinsurance holding company Southport Re appointed Glenn Weber to the newly created position of chief executive officer. Southport Re is part of New York-based private equity firm Southport Lane. As the top executive at Southport Re, Weber will …
A growing number of small businesses in New Jersey are self-funding or self-insuring their employees’ healthcare costs, and they are opting out of paying fixed premiums for traditional health insurance plans like those offered by BlueCross/BlueShield. This method, traditionally embraced …
New York State regulators are expanding their effort to stop no-fault auto insurance fraud. The New York Department of Financial Services announced on Tuesday a new draft regulation, Regulation 68, that would make it easier for insurers to detect fraudulent …
Branchville, N.J.-headquartered Selective Insurance Group appointed Annabelle Bexiga as a new independent member to its board of directors. Bexiga is the chief information officer at TIAA-CREF, a Fortune 100 financial services organization and a provider of retirement services in the …
A New York judge rejected former International Monetary Fund chief Dominique Strauss-Kahn’s claim of diplomatic immunity on Tuesday, ruling a lawsuit filed by the hotel maid who accused him of sexual assault can move forward. Bronx Supreme Court Justice Douglas …
