Michigan is objecting to the sale of Chrysler LLC assets to Italian automaker Fiat, claiming the new company won’t meet obligations to a state workers’ compensation fund. State Attorney General Mike Cox filed papers in bankruptcy court in New York …
Employers Holdings Inc. headquartered in Reno, Nev., reported first quarter 2009 net income of $20.9 million or $0.43 per share compared with $25.5 million or $0.51 per share in the first quarter of 2008, a decrease of $4.6 million or …
Most of Florida’s smaller domestic property insurers have initiated backup financing plans in the event the state-backed hurricane fund can’t meet its obligations right after a major storm hits. Insurance Journal Audio Demotech on Florida Property Insurance: An interview with …
The Colorado General Assembly, which adjourned yesterday, took a commonsense approach to insurance-related legislation during its 2009 Session, according to the American Insurance Association. Bills of primary concern to the AIA included HB 1344, SB 246, SB 61 and SB …
The Property Casualty Insurers Association of America (PCI) is trumpeting a decision by the Pennsylvania Supreme Court that it says upholds the importance of enforcing the plain meaning of insurance contract language. The Supreme Court’s decision in Ace American Insurance …
Two bills of interest to the insurance industry are making their way through the Louisiana legislative session, which convened April 27. House Bill 333, by Rep. Kleckley, which places limitations on named-storm, hurricane, and wind and hail homeowner insurance deductibles, …
Standard & Poor’s Ratings Services has said that its ratings and outlook on German global reinsurer Munich Reinsurance Co. (‘AA-‘/Stable/–) and core related entities) are unaffected by the Group’s first-quarter 2009 earnings announcement. “Munich Re’s net income for the first …
American International Group, Inc. (AIG) today reported a net loss for the first quarter of 2009 of $4.35 billion compared to a net loss of $7.81 billion in the first quarter of 2008. The loss was less than the $5 …
U.S. Health and Human Services Secretary Kathleen Sebelius Wednesday said a proposed government health insurance plan backed by President Barack Obama would compete with private insurers rather than lead to a socialized system as Republicans claim. In her first appearance …
Risk Management Solutions has completed the expert modeling analysis in connection with the securities offering undertaken by Ibis Re Ltd., a special purpose reinsurance company domiciled in the Cayman Islands. “The securities offering is intended to finance a separate reinsurance …
