The number of construction jobs in Massachusetts has fallen by about 10,000 positions in the past three months to the lowest level in a decade. The Boston Globe, citing state employment data, reports Monday that there are about 120,000 jobs …
The National Association of Insurance Commissioners (NAIC) has adopted a proposal to review the use of credit-based insurance scoring. The NAIC said it will convene a public hearing to take testimony on how the insurance industry uses credit scores, what …
Barack Obama is scrambling to assure Americans he is keenly aware of public outrage over taxpayer-backed bonuses for AIG executives, lest his own economic plan get caught up in the outcry. “How do they justify this outrage to the taxpayers …
Standard & Poor’s Ratings Services has lowered its counterparty credit ratings on Bermuda-based Everest Re Group Ltd. and its U.S.-based intermediary holding company, Everest Reinsurance Holdings Inc., to ‘BBB+’ from ‘A-‘. S&P also lowered its counterparty credit and financial strength …
The Association of British Insurers has published five key principles to “help ensure that regulatory reform brings real benefits for consumers, ahead of next week’s Turner review into regulation and the G20 London Summit on 2 April,” said the organization’s …
The world’s second-richest man, Warren Buffett, wasn’t even the highest paid employee at Berkshire Hathaway’s 19-person headquarters again last year. Buffett, chairman and chief executive of the Omaha, Neb.-based company, received a total of $175,000 in compensation in 2008, the …
Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom. AIG is letting them form their own independent company called AIU Holdings. No longer will they have to answer for what their irresponsible …
As the global economy remains in recession, a growing number of U.S. manufacturers and distributors are looking for effective ways to protect their revenue streams. In particular, firms marketing their goods and services to vulnerable industries or for export are …
Lawmakers told the top U.S. accounting rulemaker to deliver new guidance on mark-to-market accounting within three weeks, or face legislation changing the rule that has forced banks to write down billions of dollars in assets. Financial Accounting Standards Board Chairman …
A bill increasing benefits for Wyoming workers injured on the job has been signed into law by Gov. Dave Freudenthal. House Bill 54 addresses workers’ compensation rules that have for years generated complaints from injured workers and some employers. It …
