Allstate Insurance Company is seeking to recover $6.3 million against 83 New York area defendants in its seventh insurance fraud lawsuit of 2011. The complaint, filed under the Racketeer Influenced and Corrupt Organizations Act (“RICO”) and principles of common law, …
Connecticut Insurance Commissioner Thomas Leonardi announced this week that the Connecticut’s insurance department entered into its third cooperative agreement with a European financial regulator — the second in the last three months — to allow for closer supervision of a …
A year ago, Building 169 at Robins Air Force Base in Georgia was the epicenter of the base’s troubles with the Occupational Safety and Health Administration. An inspection of the building by OSHA investigators found dust in the building with …
Mining companies will need to disclose to investors information about health and safety violations under new rules adopted on Wednesday by the U.S. Securities and Exchange Commission. The rules, which are required by last year’s Dodd-Frank Wall Street overhaul law, …
E-Trade Financial and its insurers have agreed in principle to pay $79 million to settle class action lawsuits brought against the online brokerage as a result of losses in its mortgage and home equity loans portfolio in 2007. E-Trade was …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Calif.-based Heritage Indemnity Company, both with stable outlooks. The ratings of Heritage “reflect its strong capitalization, favorable operating results and national …
The Protection & Indemnity (P&I) market “delivered a blockbuster financial performance last year,” according to a report from Willis. However, the report also found that P&I Clubs are “faced with fragile investment income and increased claims in 2011,” which has …
A.M. Best Europe – Rating Services Limited has upgraded the issuer credit rating to “bb+” from “bb” and affirmed the financial strength rating of B (Fair) of Russia’s OJSC Transsiberian Reinsurance Corporation (Transsib Re), both with stable outlooks. Best said …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Beazley Insurance Company, Inc. (BICI), which is based in Farmington, Conn. The outlook for both ratings is stable. These ratings reflect …
The QBE Insurance Group announced that it has agreed to acquire Optima Insurance Group, an underwriting group in Puerto Rico that posted an estimated $100 million in gross written premium in 2011. QBE said the “transaction includes Colonial Insurance Agency, …
