A former Miss West Virginia has won a $7.2 million verdict against nine Internet companies that tried to sell pornographic videos they falsely claimed featured her. A jury in U.S. District Court in Clarksburg last week ordered each defendant to …
The Netherlands ING Group said on Thursday that it plans to divest operations worth up to €8 billion ($10.6 billion) to reduce risk and will focus its banking activities on Europe. ING, which was loss-making in 2008 and got a …
American International Group announced that it has closed the sale of AIG’s retail bank, AIG Retail Bank Public Company Limited, and credit card operation, AIG Card (Thailand) Company Limited. The Thai operations were sold to Bank of Ayudhya Public Company …
The Gibraltar Group, a full-service insurance and risk management firm headquartered in Lubbock, Texas, announced that the company has been selected to become a part of Sitkins International, an organization whose membership includes independent insurance agencies and brokerages in the …
Aon Specialty, a division of Aon Risk Services, has unveiled the UK arm of its global Aon Energy unit. “The launch of the new management team follows the integration of energy specialists from the former Benfield Corporate Risks into the …
In an open letter to British Prime Minister Gordon Brown, released at the European Insurance Forum in Dublin, a number of the world’s leading insurance organizations urged him to recognize that “insurance has a fundamentally different business model from banking.” …
The European Union has joined the Caribbean Catastrophe Risk Insurance Facility’s (CCRIF) 16 member governments – Canada, the World Bank, the United Kingdom, Bermuda, Ireland, France and the Caribbean Development Bank – in donating to the facility’s reserve pool. The …
Standard & Poor’s Ratings Services has revised its outlook on Toronto-based property and casualty insurer ACE INA Insurance (ACE Canada) to positive from stable. S&P also affirmed the long-term ‘A’ financial strength and counterparty credit ratings on the company. “The …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Bermuda-based ACE Bermuda Insurance Ltd. and ACE Tempest Reinsurance Ltd. Best also affirmed the FSRs of ‘A+’ (Superior) and …
Kate Westover, vice president of Alternative Risk Financing at Innovative Captive Strategies, has received the 2009 Distinguished Service Award from the Captive Insurance Companies Association (CICA). Based in Colchester, Vermont, Westover has 20 years experience in the captive insurance industry …
