The Idaho Department of Insurance reported it has recovered more than $4 million for Idaho consumers in 2009, by helping hundreds of Idahoans settle disputes with insurance companies. According to DOI Director Bill Deal, complaints are received on all lines …
U.S. Treasury Secretary Timothy Geithner flatly denied any role in counseling American International Group Inc. to keep quiet about payments it made to leading banks during a 2008 rescue of the stricken insurer. Geithner faces a grilling on Wednesday before …
Water, wind and hail damage top the list of most common homeowner insurance claims in Texas, according to a review by Allstate Insurance Company of aggregated insurance carrier claims data. Allstate assessed data from 2000 – 2007 and found that …
Former U.S. Treasury Secretary Henry Paulson staunchly defended the decision to rescue troubled insurer American International Group Inc. in 2008 and said he and others involved acted properly. In testimony prepared for a hearing Wednesday of the U.S. House of …
A.M. Best Co. announced it has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and issuer credit rating (ICR) to “bbb+” from “a-” of Michigan Millers Mutual Insurance Company (Michigan Millers) of Lansing, Mich. The outlook …
In a victory for ratings agencies, a U.S. judge Tuesday dismissed claims against Moody’s Corp. and McGraw-Hill’s Standard & Poor’s in litigation over nearly $100 billion of Lehman Brothers Holdings Inc. mortgage-backed securities. Investors had accused the agencies of serving …
Goebel Insurance Agency of Philadelphia has been acquired by Eagil Financial Group, a New Jersey-based firm that provides financial planning services to high net worth clients. Financial details of the transaction were not released. Guy E. Runyon, president and CEO …
U.S. businesses and government agencies are facing increasing risks of potential cyber attacks from China, according to a recent report. And IT departments that react defensively to such attacks may not be doing enough to prevent a “long term, sophisticated …
Louisiana’s property insurer of last resort allowed too much access to computer systems, opening the door for potential fraud, and failed to take enough steps to make sure that policy applicants were eligible for coverage, according to a state audit …
Bermuda,-based PartnerRe Ltd. announced that during the January 1, 2010 treaty renewal season it expects to write and bind approximately $2.6 billion of non-life premium. The bulletin added that this figure “includes $440 million in premium from PARIS RE, whose …
