The new financial reform bill introduced in the U.S. Senate will likely be approved at the committee level next week, but its shape could change substantially once it comes before the full Senate and winning Republican support comes into play, …
A Seattle couple has sued Toyota, seeking to have the company take back the vehicle they just bought or reimburse them for lost value. Dana and Douglas Eller filed the lawsuit Monday in federal court, seeking class action status on …
U.S. Senate Banking Committee Chairman Christopher Dodd introduced his latest bill to overhaul the financial system on Monday. The committee is expected to work on the bill next week and it will likely change dramatically. Below are some of the …
Major flooding has begun and is forecast to continue through spring in parts of the Midwest, according to the National Weather Service. The South and East are also more susceptible to flooding as an El Niño influenced winter has left …
A federal judge in Texas has set aside a $100 million verdict against BP Plc., saying 10 workers who sued the oil company after they were sickened by a chemical release did not prove BP was grossly negligent. Last December …
The Property Casualty Insurers Association of America (PCI) has requested that South Dakota Governor Mike Rounds veto Senate Bill 169, which PCI says will increase litigation costs and cause higher insurance premiums for consumers. The bill, which passed the South …
UK broker Miller, a specialist independent insurance and reinsurance broker, announced the appointment of Neil Higgins, as a global facultative reinsurance specialist. Mike Papworth, Head of Facultative Reinsurance at Miller noted Higgins “very strong reputation in the London market,” and …
A slender boy of 14 moves slowly across the room. His full head of long red hair bounces as he walks. His mind is racing. He sits at the oak table near the window of the vast room. On the …
A bulletin from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) indicates that many of its member countries “are re-examining their preparedness for natural catastrophes, including their levels of coverage under CCRIF.” There are currently sixteen Caribbean governments, who, since 2007, …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Jordan-based Middle East Insurance Company (MEICO) to ‘BBB-‘ from ‘BBB’. The outlook is stable. The rating action follows the “downgrade on March 12, …
