Guy Carpenter & Co. LLC, a global risk and reinsurance intermediary division of N.Y.-headquartered Marsh & McLennan Companies, announced last week its acquisition of Smith Group, a disability reinsurance risk manager and consultant in South Portland, Maine. Guy Carpenter said …
A pet owner has filed a federal lawsuit challenging a central Mississippi city’s ban on pit bull dogs. The city of Richland, a Jackson suburb of about 7,000 residents, passed an ordinance in April 2006 that bans American Pit Bull …
A contractor projects that a system to instantly verify whether Mississippians have auto insurance would lead to fines of more than $150 million a year being collected over the program’s first three years The computer system was supposed to launch …
Increases for commercial property/casualty insurance rates in the United States were again about 5 percent during June, the fourth straight month at that pace. According to the latest composite index from MarketScout, all coverages, industry groups and account sizes held …
Public Service Enterprise Group Inc., the largest provider of gas and electric service in New Jersey, sued 11 insurers, including American International Group Inc., over losses from Hurricane Sandy. PSE&G, which provides electricity to 2.2 million customers in New Jersey, …
The U.S. Senate Banking Committee’s top Republican is asking the investigative arm of Congress to determine whether the Consumer Financial Protection Bureau is acting within its powers in a sweeping data collection effort. Senator Mike Crapo, an Idaho Republican, made …
Swiss Re has estimated that its claims burden from recent flooding in central and Eastern Europe is approximately $300 million, net of retrocession and before tax. Industry-wide insured losses are estimated to be between $3.5 and $4.5 billion. The flooding …
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model following the recent floods in the Canadian province of Alberta. The bulletin said the model uses “event footprints that outline the extent of …
While businesses hailed President Barack Obama’s decision to delay penalizing companies that fail to offer benefits under the health law, workers and states may struggle with the uncertain aftermath. In postponing the mandate for a year, the president has lessened …
Days after delaying health insurance requirements for employers, the Obama administration has decided to roll back requirements for new state online insurance marketplaces to verify the income and health coverage status of people who apply for subsidized coverage. President Barack …
