The Bank of England will spell out more clearly what insurers should be doing to protect policyholders such as the elderly after a report called for clearer safeguards. The BoE’s Independent Evaluation Office (IEO) looked at how the central bank’s …
Reinsurer Swiss Re, usually involved in mega-deals on natural disaster coverage, is branching out on its own to do individually tailored schemes to boost returns, such as one in China to protect farmers against floods or drought. This tailor-made approach …
The former cashier at a Pennsylvania monuments and engraving firm has acknowledged stealing nearly $13 million over 16 years and is hoping a judge will approve a seven-and-a-half-year federal prison sentence for her crimes. Cynthia Mills’ defense attorney, Phil DiLucente, …
The office manager of a Stamford, Conn., dental practice has pleaded guilty to using a retired dentist’s records to charge insurance companies almost $600,000 for work that was never performed. Elena Ilizarov pleaded guilty in federal court this week to …
An Albany insurance broker has been sentenced to nine years in prison for a $1 million securities fraud scheme. Lawrence D. Rosenbaum previously pleaded guilty to charges including grand larceny and securities fraud. He also admitted failing to file state …
Chicago-based global insurance brokerage Hub International Limited (Hub) has acquired the assets of BCI Group Inc. (BCI) and its subsidiary, Plus Point Services Inc. (Plus Point). Both are based in Portland, Ore. Terms of the acquisition were not disclosed. BCI …
As they grapple with persistently soft market conditions, medical professional liability (MPL) underwriters must weigh the potential impact on their business of proposed changes in the U.S. healthcare financing system. As they gathered in Chicago for their annual meeting, MPL …
Surgery patients often go home from the hospital with a prescription for painkillers to take as they recover. But a new study suggests that doctors should also focus on patients who were taking such medicines before their operations. People who …
Warren Buffett’s compensation for running Berkshire Hathaway Inc. edged up 4.0 percent last year to $487,881 reflecting the higher cost of keeping the world’s second-richest person safe. Buffett’s pay was disclosed in a Friday regulatory filing, in which Berkshire also …
Ironshore Specialty Casualty has enhanced its transition protection policy form to address contractual exposures related to an organizational merger or acquisition specific to the construction industry. Ironshore’s Construction Transition Protection product provides coverage for abrupt and accidental property damage or …
