Yet Uncertainties Continue to Face the Business The workers’ compensation insurance industry experienced a year of mostly solid results in 2008, according to Dennis Mealy, NCCI Holdings Inc. chief actuary. In its annual “State of the Line” report, the NCCI …
The Washington Legislature has failed to pass a bill that would have limited a successor corporation’s liability for asbestos-related claims to an amount equal to the predecessor corporation’s adjusted total gross assets. According to the American Insurance Association, “Manufacturers would …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Japan’s Aioi Insurance Company, Limited, both with stable outlooks. “The ratings reflect Aioi’s stable underwriting performance, adequate capitalization …
Tropical storms are unpredictable, but as the National Hurricane Center’s director contemplates ways to improve forecasting errors and communicating with the public, he is confident he has an ally at the Federal Emergency management Agency (FEMA). Bill Read celebrated the …
The H1N1 flu virus is making fewer people in Mexico sick and will likely cause no more than 100 deaths in the country, Health Minister Jose Angel Cordova said Wednesday. He told Reuters that Mexican hospitals were seeing a drop …
Dutch banking and insurance group ING reported on Wednesday a much bigger than expected first-quarter net loss of €793 million ($1.085 billion), or 39 €-cents (53.3 U.S. cents) per share, hurt by a sharply weaker insurance business. “Market conditions remained …
The UK’s Chartered Insurance Institute (CII) has set up a task force of senior general insurance practitioners to drive higher levels of professionalism within the industry as part of its campaign to raise professional standards. The task force will develop …
American International Group Inc. CEO Ed Liddy met some harsh criticism at a congressional hearing on Wednesday as lawmakers demanded answers on the taxpayer bailout of the giant insurer. Rep. Dennis Kucinich wagged his finger at Liddy, who was brought …
The Justice Department warned corporate America on Monday that the government will aggressively investigate big firms that improperly dominate markets. Assistant Attorney General Christine Varney said the department is abandoning legal guidelines put in place by the Bush administration in …
The head of the Securities and Exchange Commission said Friday she favors a new proposal for federal regulators sharing oversight of companies that pose financial risks to the U.S. economy. SEC Chairman Mary Schapiro said she’s “inclined toward” the idea …
