President Barack Obama’s pay czar Wednesday predicted the issue of hefty bonuses for AIG employees would end in March and denied a Republican claim that the firm outmaneuvered the Obama administration. “It ends this March with the last of these …
A.M. Best Co. has placed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings of “a” of Massachusetts Homeland Insurance Company and York Insurance Company of Maine under review with negative implications. Best took the rating actions following …
A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the New York-based Tower Group Companies, its pooled members and Bermuda-based CastlePoint Reinsurance Company Limited are unchanged. Best …
The Independent Insurance Agents of Texas (IIAT) on Feb. 2 presented its 2010 Independent Leadership Award to Joe Straus III, speaker of the Texas House of Representatives. Speaker Straus was elected to the House of Representatives in 2005 and served …
Insurance broker Lockton Southeast recently added Veronica Corkan to its team of benefits experts as vice president and unit manager in Atlanta. She joins Lockton after having served as a senior health and welfare consultant at Towers Perrin. Corkan has …
The owners of a North Carolina assisted living home have declared bankruptcy and could escape responsibility for what a judge called a pattern of neglect by under-trained and understaffed employees. Superior Court Judge James Ammons ruled in 2006 that negligence …
Connecticut Gov. M. Jodi Rell has announced she will propose stronger enforcement of the state’s 2005 law barring hand-held cell phones while driving. In a statement Saturday, Rell said she will submit legislation expanding the law to cover texting and …
Hawaii is closer to tapping its Hurricane Relief Fund to help balance the state budget and resolve teacher furloughs, as a legislative committee advanced a bill that would appropriate $50 million from the fund. Senate Bill 2124, which is now …
Waterbury, Connecticut-based Webster Financial Corp. said it was the target of an elaborate embezzlement scheme at a subcontractor that provides bulk cash processing on behalf of one of its major vendors. The company said that the subcontractor had made partial …
Massachusetts-based OneBeacon Insurance Group has agreed to sell its personal lines business to Tower Group Inc. in a deal that comprises two affiliate insurers and two reciprocal insurance exchanges in New York and New Jersey. The agreement calls for New …
