Principal Financial Group Inc., an insurance, retirement and financial services company, said it is getting out of the health insurance business. It said the move will eliminate 150 jobs initially and more later. Principal’s health insurance division employs 1,500 workers …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of UK-based QBE Insurance (Europe) Limited, Australia-based QBE Insurance (International) Limited and QBE Reinsurance (Europe) Limited, …
In a decision that some legal observers found surprising, the Tennessee Supreme Court has reversed precedent and made it easier for workers to sue their employers when they believe they were fired illegally. The court ruled 3-2 last week that …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Tunisia’s BEST RE, both with stable outlooks.The ratings of BEST RE reflect its “significant importance to its …
The claims costs connected to the recent half billion egg recall will be unprecedented and include liabilities such as business interruption and reputation damage. During the next 15 months, the U.S. Food and Drug Administration will inspect the 600 largest …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Finland’s Tapiola General Mutual Insurance Company (also known as Keskinainen Vakuutusyhtio Tapiola). The outlook …
Standard & Poor’s Ratings Services has assigned its ‘BBB+’ senior unsecured debt rating to W.R. Berkley Corp.’s (WRB) proposed issue of $300 million of 5.375 percent senior unsecured notes, which are due in 2020. “WRB will use the net proceeds …
Louisiana Attorney General Buddy Caldwell filed an action against several Transocean entities in federal court for the Eastern District of Louisiana on Sept. 14, 2010, seeking declaratory relief against Transocean in association with the Deepwater Horizon Gulf spill. The complaint …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of the U.S. operating companies comprising OneBeacon Insurance Group, and the FSR of ‘A-‘ (Excellent) and ICRs of “a-” …
The tragic gas pipeline explosion in a San Francisco suburb has shed light on a problem usually kept underground: Communities have expanded over pipes built decades earlier when no one lived there. Utilities have been under pressure for years to …
