Insurance entrepreneur Mark Byrne pulled ahead in the race to buy Lloyd’s of London insurer Omega after Omega and its top shareholder backed his offer, prompting his main rival to withdraw. Omega, at the centre of a three-way takeover battle …
Allstate Corp. suffered nearly $1.1 billion in catastrophe losses in the third quarter, the country’s largest publicly traded home and auto insurer said Thursday. That is half of what Allstate lost in the second quarter, when parts of the United …
Kentucky Republican state Rep. Bill Farmer of Lexington is planning to push a legislative measure that would impose new rules regarding the sale of scrap copper to try to cut down on thefts. Farmer said businesses and even churches have …
Florida’s top highway safety official wants to put more troopers who specialize in investigating highway fatalities out on the road. Highway Safety and Motor Vehicles Director Julie Jones told members of the Florida Cabinet this week that she wants to …
Florida’s hurricane fund is confronting a potential $3.2 billion shortfall, financial experts said in a new estimate of the money available to the pool intended to help insurers make disaster payments. The fund was created after Hurricane Andrew devastated South …
Praised by consumer advocates and denounced by manufacturers, a new federal database for safety complaints about everything from baby gear to household appliances is facing its first legal challenge. A motion has been filed in federal district court in Maryland …
Insurance broker Lockton Companies LLP and First Equity Risk Management Services Ltd are forming a South African joint venture company, Lockton First Equity, to provide commercial insurance brokerage services in South Africa. Terms of the agreement were not announced. The …
A Camden County, New Jersey, insurance agent was indicted for allegedly stealing more than $172,000 from insurance purchasers and for allegedly failing to remit insurance premiums worth over $3,200. The indictment was announced on Tuesday, Oct. 18, by New Jersey …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Bermuda-based BNY Trade Insurance, Ltd., both with stable outlooks. The ratings reflect BNY Trade’s “strong capitalization, consistently positive operating results, conservative …
Filhet Allard, the 6th largest corporate broker in France, has become a member of BrokersLink, the independent insurance broker network, whose members manage premium volumes in excess of $14 billion, as part of the network’s drive for growth across Europe. …
