April 23, 2010
The Travelers Cos. Inc. reported net income for the first quarter 2010 dropped just $15 million, to $647 million in Q1 2010, compared to $662 million in Q1 2009. Operating income in the current quarter declined as well to $631 …
April 23, 2010
Bermuda-based Ariel Reinsurance Company Ltd. appointed Tom Hulst as CEO. Hulst will report to George Rivaz , the chairman of Ariel Reinsurance and CEO of Ariel Holdings. Hulst has been with the Ariel Re since shortly after its formation in …
April 22, 2010
The Connecticut Insurance Department said it recovered over $1 million on behalf of consumer in the first quarter of the year. The department’s consumer affairs unity, which oversee complaints against insurers, handled roughly 1,600 complaints and inquiries during the three-month …
April 22, 2010
Georgia lawmakers have voted to allow employers whose injured employees lost medical benefits when a major workers compensation carrier went under to buy into the state insolvency fund. Sponsored by Rep. Carl Rogers, R-Gainesville, who is an insurance agent, the …
April 22, 2010
Eric Castaneira, who went to prison in for kidnapping an executive at South Dakota-based Midland National Life Insurance Co. in 1991, has filed a lawsuit seeking more than $500,000 from the company, plus punitive damages that would be given away. …
April 21, 2010
Bank style regulation on property/casualty insurers would lead to significant policy error, says a leading insurance industry econmist. “Bank style regulation would needlessly raise insurance costs for hundreds of millions of insurance consumers and could unfairly require insurers to subsidize …
April 21, 2010
A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa” of Indianapolis, Ind.-based Baldwin & Lyons Group, which includes Protective Insurance Co. and its wholly owned subsidiary, Sagamore Insurance Co. …
April 21, 2010
NorthWestern Energy’s insurance company will pay the city of Bozeman, Montana about $163,000 for costs incurred in the aftermath of a deadly natural gas explosion downtown. City commissioners voted unanimously to accept the settlement, even though they were seeking $310,000. …
April 20, 2010
Insurance companies are gearing up to recoup from Toyota money they paid for claims in crashes involving sudden acceleration, the subject of major safety recalls by the Japanese automaker. It could also mean money back for some drivers who paid …
April 20, 2010
Peoria, Ill.-based property and casualty insurance company, RLI Corp., reported first quarter 2010 operating earnings of $20 million compared to $22.5 million for the first quarter of 2009. The company had an underwriting income of $12.7 million and a combined …