Lawyers for victims of a Rhode Island nightclub fire that killed 100 people have asked a judge to approve a trust fund that will pay out $176 million in settlement proceeds. The request was made in court papers filed Wednesday. …
WSB-TV reported that a lawsuit claims Insurance Commissioner John Oxendine — a Republican candidate for governor — took trips on the tab of a campaign contributor who asked for help in an insurance dispute. The federal lawsuit involves a dispute …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Amlin Bermuda Limited (ABL), both with stable outlooks. In a separate bulletin Best affirmed the financial strength rating ‘A+’ (Superior) and …
An insurance trade group says a bill passed by the Michigan House of Representatives threatens to increase auto insurance costs and harm the state’s job market and economy. The Property Casualty Insurers Association of America (PCI) says the House passed …
According to a report from catastrophe risk modeling firm AIR Worldwide, “severe Tropical Cyclone Laurence made a second landfall this evening [Dec. 16] along the Kimberley coast of north Western Australia State. Although the storm is small in area, around …
The Hawaii State Insurance Division has successfully closed HIH America Insurance Company of Hawaii, a Hawaii workers’ compensation insurance company. Financial problems of its affiliated companies in Australia and California led to the downfall of the company in March 2001, …
Financial giants such as Goldman Sachs Group could be broken up under two bills introduced in the U.S. Congress Wednesday, one with the backing of former Republican presidential nominee John McCain. Both would reinstate the 1930s-era Glass-Steagall laws that barred …
A federal judge in Houston found accused swindler Allen Stanford and his attorneys in contempt of a court order Wednesday over their attempts to collect insurance policy proceeds to pay defense costs. No sanctions were imposed, according to the judge’s …
New York State Insurance Superintendent James J. Wrynn announced that Joseph Fritsch has been named deputy superintendent for Accounting and International Affairs. Fritsch was most recently the director of Insurance Accounting Policy. As deputy superintendent, Fritsch will advise on accounting …
North Carolina Insurance Commissioner Wayne Goodwin reported the arrest of a licensed insurance agent from Fremont who has been charged with embezzling $7,000 in insurance premiums. Insurance department investigators allege that Wendy C. McGuire, from June to December 2008, kept …
