Former longtime AIG chief Maurice “Hank” Greenberg and another former executive will get $60 million from the company’s insurers to cover legal and other costs as part of a proposed settlement of investor lawsuits, court papers show. The payouts to …
The Insurance Agents & Brokers, a partnership of agents’ associations in Delaware, Maryland and Pennsylvania has elected new directors. Chairman David Rosenkilde, of ABCO/ICS Insurance Services Inc., in Reisterstown, Maryland, and Vice chairman Robert B. Hall, of Francis Hall Insurance …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of AMEX Assurance Company, a wholly owned subsidiary of American Express Company. The outlook for both ratings is stable. The ratings reflect …
Indiana-based K&K Insurance has added a regional sales force to develop new agent relationships while supporting existing K&K relationships with more than 6,000 agents and brokers across the United States. The new sales representatives include: James Algeo serves the Northeast …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Bermuda-based Catlin Insurance Company Limited (CICL), Catlin Insurance Company (UK) Ltd. Houston-based Catlin Insurance Company, Inc. (CICI) and Delaware-based Catlin …
At least 80 Claymont, Delaware residents have joined a damage and personal-injury lawsuit targeting a long-troubled steel recycling plant there, in a case that claims owners failed for years to control “poisonous clouds” of toxic dust. The lawsuit surfaced days …
State fire marshal’s investigators are probing five separate arsons that caused heavy damage to buildings and vehicles in northern New Castle County. Authorities said the fires were set 2 a.m. and 5:30 a.m. Wednesday and targeted at two vacant dwellings, …
The Oklahoma Department of Insurance announced it is expanding its use of the Web-based State Based Systems (SBS) to improve back-office processing of insurance regulation. SBS is a solid, web-based solution that supports all aspects of insurance regulation via a …
Florida real estate developer St. Joe Co. is suing Halliburton Co. over its role in the rig explosion that led to the massive oil spill in the Gulf of Mexico. St. Joe said late Wednesday that Halliburton, which was responsible …
Delaware’s governor has given temporary authorization for the hiring of more workers for the Department of Motor Vehicles after residents complained of long lines. Gov. Jack Markell took the action after long lines arose on July 1 when the state …
