Lloyd’s of London announced that it estimates its net claims before tax from the earthquake in Chile to be in the order of $1.4 billion. Current estimates for the net claims from the Deepwater Horizon explosion in the Gulf of …
Assurance Agency Ltd., based in Schaumburg, Ill., has added Robert Dufkis, to serve clients in the areas of both property and casualty, and employee benefits. Dufkis has 18 years of insurance industry experience, and has worked with Illinois municipalities, educational …
Lloyd’s of London has asked a U.S. court to block a claim filed by oil major BP seeking damages against driller Transocean, which drilled the well which is currently gushing crude into the Gulf of Mexico. Lloyds underwriting syndicates and …
A.M. Best Co. has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating of ‘A’ (Excellent) of United Educators Insurance, a Vermont-based Reciprocal Risk Retention Group (UE), with stable outlooks. The ratings reflect …
The U.S. Justice Department said Tuesday that Congress could retroactively impose a higher liability cap on BP Plc to pay for the damage from its growing oil spill, and the company would likely lose if it challenged the higher cap …
Independent agents and brokers want more carriers to offer real-time functionality, according to a new industry survey. Agents believe those carriers will deliver the greatest benefit in making real time the predominant workflow in their agencies. Participants from every state, …
The tug-of-war over surplus money in a state-created malpractice insurance fund intensified Monday, with the insurance commissioner seeking to change the fund’s rules and the policyholders heading back to court. The Joint Underwriting Association fund was created by the Insurance …
The Arkansas Supreme Court has affirmed a lower court order certifying class action status in a case involving an insurer’s depreciation practices in property claims against “actual cash value” homeowners policies. In Farmers Union Mutual Insurance Company v. Randall and …
A federal judge has granted class action status to a lawsuit filed by members of Quinnipiac University’s volleyball team alleging gender discrimination in the school’s athletic programs. Judge Stefan Underhill’s ruling means if he finds Title IX violations, he could …
Bailed-out insurance giant American International Group has slashed its exposure to credit derivatives by nearly two-thirds under government ownership, but a full recovery for taxpayers remains uncertain, a senior U.S. Treasury official said on Wednesday. Jim Millstein, the Treasury’s chief …
