Bailed-out insurer American International Group named former Prudential plc Chief Executive Mark Tucker as head of its Asia life insurance business, AIA, and said it would seek to list AIA on the Hong Kong stock exchange. The abrupt removal of …
UK-based Broker Miller Insurance Services Limited, which specializes in both insurance and reinsurance, announced a number of senior appointments to its reinsurance business unit. Former Guy Carpenter Managing Director Adrian Stewart will join Miller to “help lead the expansion of …
Corporate risk managers report a serious and growing disconnect between themselves and their insurance brokers and carriers: At a time when U.S. companies are enhancing internal risk management capabilities and elevating risk management to a strategic priority, many brokers and …
An insurance company must defend a homeowner who was sued after a woman overdosed on drugs at a house party he held, the New Jersey Supreme Court has ruled. The ruling by Justice Helen E. Hoens reversed an appeals court …
Washington Insurance Commissioner Mike Kreidler is taking aim at insurers’ use of credit scores, warning consumers that large drops in credit scores could lead them to pay 8 percent to 15 percent more for insurance. Meanwhile, several insurance associations say …
Goldman Sachs Group Inc. agreed to pay $550 million to settle civil fraud charges over how it marketed a subprime mortgage product, ending months of negotiations that rattled the bank’s clients and investors. The U.S. Securities and Exchange Commission said …
Yesterday’s hearing before the House Ways and Means Committee has inspired both sides in the debate over Rep. Richard Neal’s (D-MA) plan, HR3424, to tax foreign-based insurers and reinsurers. [See IJ web site – https://www.insurancejournal.com/news/national/2010/07/15/111603.htm ]. The immediate focus is …
Nobody wishes for a natural disaster, but there’s nothing like a big U.S. hurricane to revitalize shares in property and casualty insurers, currently weighed down by persistently weak insurance prices. Nine analysts polled by Reuters on average said the U.S. …
The U.S. House of Representatives has a measure extending the federal flood insurance program for five years. The bill, H.R. 5114, the “Flood Insurance Reform Priorities Act of 2010,” sponsored by Rep. Maxine Waters (D-Calif.) and Rep. Barney Frank (D-Mass.), …
The Senate has passed the Dodd-Frank financial services reform package that will have some impact on the insurance industry and add involvement by the federal government in the state-based insurance regulatory system. The 2,300-page bill, which passed the Senate by …
