The Missouri Department of Insurance reported that a leader in the U.S. foodservices market has become licensed as a captive insurance company, the result of a new state law making the captive formation process easier. The department said it has …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Flagstone Reinsurance Africa Limited, both with stable outlooks. The ratings reflect the company’s” strong risk-adjusted capitalization as well as …
A study from Aon UK warns that “insurers may reduce the amount of capital they’re willing to commit to the food industry in Q4 2009 and into 2010. Only companies that can evidence a constructive and proactive approach to understanding …
An American International Group Inc.’s board meeting is expected next week against the backdrop of Chief Executive Robert Benmosche’s frustration with the U.S. government’s involvement in the insurer’s affairs, a source familiar with the matter said Thursday.But the board does …
Two former auditors of Parmalat SpA agreed to pay $15 million to settle a class-action lawsuit by U.S. equity investors over their roles in the Italian dairy company’s 2003 collapse. Deloitte Touche Tohmatsu will pay $8.5 million and Grant Thornton …
A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the P/C and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of “bbb” and debt ratings of Assurant. At the same …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Balboa Insurance Group and its P/C members: Balboa Insurance Company (BIC), Meritplan Insurance Company (both of Irvine, CA), Newport …
A federal appeals court says a western Pennsylvania woman isn’t entitled to a new trial on her claim that an accounting error by Ernst & Young cost her $103 million. The Pennsylvania Superior Court two years ago threw out a …
The Connecticut Supreme Court reinstated a lawsuit Wednesday brought by the owners of a dump truck involved in a fiery crash in Avon in 2005 that killed four people and injured 11 others.In its decision, the high court overturned a …
A Connecticut jury has awarded $15 million to automobile repair shop owners in their lawsuit accusing an affiliate of The Hartford Financial Services Group of unfair trade practices. The Stamford Superior Court jury this week found in favor of the …
