A.M. Best Co. has affirmed the financial strength rating of’ A+’ (Superior) and issuer credit rating of “aa-” of Bermuda-based Tokio Millennium Re Ltd. (TMR), both with stable outlooks. Best noted that TMR is a wholly owned subsidiary of Tokio …
The family of an 8-year-old boy who fatally shot himself at a gun show in western Massachusetts say the Uzi submachine gun jammed twice before he lost control of the weapon and fired into his head. The family of Christopher …
Chairman Christopher Dodd (D-Conn.) of the Senate Banking Committee on Tuesday introduced a draft of the long-awaited financial services regulatory reform bill. While insurance industry representatives were quick to applaud Dodd, the committee and staff on their work, they also …
Anti-piracy measures off Somalia appear to be forcing pirates to extend their range to strike deep into the Indian Ocean, shifting the menace even further from the protection of international naval forces. Gunmen on Monday launched their longest range hijack …
American International Group Inc.’s tough talking chief executive has reportedly threatened to quit, but the giant insurer, which is showing signs of life after its brush with bankruptcy last year, could do fine without him. Robert Benmosche threatened to quit …
The ceremonies commemorating the end of the First World War, 91 years ago today, took on a special significance this time. They are remarkably uniform throughout Europe. Each of the nations involved in that murderous conflict continues to honor those …
Federal prosecutors say they won’t retry a California Institute of Technology graduate student on arson charges for helping firebomb dozens of SUVs in the San Gabriel Valley. Monday’s decision in Los Angeles doesn’t affect the sentence for William Cottrell. In …
The Oregon Department of Consumer and Business Services (DCBS) recently fined Providence Health Plans $30,000 for mishandling nearly 7,000 claims, according to an Insurance Division press release. “In this tough economy, with health care costs continuing to rise, it is …
The former commissioner of the Utah Department of Public Safety on Monday entered a conditional guilty plea to two third-degree felony charges of falsely obtaining a prescription and to a misdemeanor count of filing a fraudulent insurance claim. Scott Duncan …
Switzerland’s largest banks and insurers will have to defer the bulk of managers’ bonuses and better match pay to performance under new rules aimed at curbing risky investments. Swiss financial regulator FINMA had planned to impose the rules on the …
