U.S. regulators need to complete a comprehensive bankruptcy program implementation to allow large financial institutions to unwind in the event they fail, rather than depend on government interventions, a top Fed official said on Oct. 10. Richmond Federal Reserve Bank …
All Trans Risk Solutions and Fireman’s Fund Insurance Co. have launched AllParaPro, a specialty insurance product targeting the underserved non-emergency medical transportation company sector. In a statement, CEO Robert G. Lull for the Mahwah, N.J.-based All Trans noted that operators …
The Atlantic hurricane season isn’t dead yet. As weather-watchers focus on Typhoon Vongfong in the Pacific and Cyclone Hudhud in the Bay of Bengal, a subtropical depression has formed south of Bermuda late last week, prompting a tropical storm watch …
Former Eqecat, Tiger Risk and RMS executive William Keogh has been named CEO of data and analytics company Advisen Ltd. The company said Keogh will start at Advisen on October 20, following the departure of former CEO and Advisen co-founder, …
Former Federal Reserve Chairman Ben Bernanke said he wasn’t looking to punish American International Group Inc. for mismanagement when the board of governors authorized an emergency loan to the distressed insurer at a steep interest rate and with a demand …
The missteps in Dallas’s handling of the first Ebola case diagnosed in the United States have revealed an uncomfortable reality: state and city plans for handling the deadly virus are based on generic recommendations for everything from measles to floods, …
Two tests must be satisfied before an illness or disease can be considered occupational and thus compensable under workers’ compensation. First, the illness or disease must be “occupational,” meaning that it arose out of the course and scope of employment. …
Seattle, where a crowd of football fans celebrating a Super Bowl victory waited at a crosswalk for a signal change this year, is the safest U.S. city for pedestrians, according to a study by Liberty Mutual Holding Co. The city …
Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this year from about …
Former Federal Reserve Chairman Ben Bernanke defended the sterner treatment of American International Group Inc. in the 2008 bailout compared with how investment banks were handled, saying the rescue of the insurer had a different purpose. Maurice “Hank” Greenberg’s Starr …
