The U.S. offshore drilling regulator Wednesday formally issued sanctions against BP and the major contractors involved in the 2010 explosion on the Deepwater Horizon rig that killed 11 workers and spewed more than 4 million barrels of oil into the …
Only two life insurers — MetLife Inc.. and Prudential Financial Inc. — meet the newly developed requirements to be considered “systemic” and regulated as such, KBW analysts said Wednesday. The Financial Stability Oversight Council Tuesday proposed a three-stage test to …
Catalina Holdings (Bermuda) Ltd announced that following regulatory approval from the Colorado and Hawaii Departments of Insurance, it has completed the acquisition of Residential Loss Control Holdings, LLC (RLCH), which owns two risk retention groups, National Home Insurance Company (NHIC) …
Bermuda-based Endurance Specialty Holdings Ltd announced that Rene Lamer will assume the role of Senior Vice President and Head of U.S. Property Catastrophe Treaty Reinsurance. He is a Bermuda citizen, and will continue to report to Stephen Young, Executive Vice …
According to catastrophe modeling firm AIR Worldwide’s Dr. Tim Doggett, even though hurricane Jova has weakened to a tropical depression, it’s still capable of causing further damage. “Jova’s slow speed raises the potential for heavy rainfall accumulations—especially in the higher …
Toronto-based Fairfax Financial, which raked in billions during the 2008 financial crisis by using market hedges, is once again a go-to stock for shaken investors. Although the company has been criticized by some for its opaqueness and complicated structure, its …
The company that makes the BlackBerry smart phone is working frantically to end a three-day global service disruption that has frustrated millions of its customers and pumped up pressure on its management to make sweeping changes. Research In Motion [RIM], …
Hurricane Jova flooded the streets of Mexico’s main Pacific port with torrential rain Wednesday, inundating popular beach resorts and killing at least four people in mudslides. While Jova ravaged the coast, a tropical depression to the southeast prompted thousands of …
Congress Wednesday approved long-delayed trade pacts with South Korea, Colombia and Panama that are expected to lift exports by about $13 billion a year and give U.S. employment a boost. Republicans and Democrats joined together in the House of Representatives …
The Hartford Financial Services Group, Inc., has made its AARP-branded auto insurance program available through United Valley Insurance in Fresno, Calif. The Hartford is offering the AARP-branded auto insurance program through select, authorized independent agents. These products were previously only …
