As mounting economic uncertainty leads to new and increasingly complex business challenges for executives, Travelers Bond & Financial Products has unveiled new program enhancements and a Private/Mutual Insurance Company endorsement as part of its Travelers SelectOne for Insurance Companies product. …
Ohio Attorney General Richard Cordray has announced that state agencies are collaborating to combat the misclassification of workers. Employee misclassification is part of an “underground economy” in which an employer improperly classifies individuals as independent contractors or pays them “off …
Kansas lawmakers heard testimony on a bill this week that was inspired by the deaths of a woman and her 4-year-old daughter in an accident police believe involved a driver with multiple drunk driving convictions. Kansas Rep. Aaron Jack, R-Andover, …
Colorado’s Division of Insurance announced that Allstate Insurance Group has decreased its rates for private passenger automobile policies in the state, providing a savings of $6.8 million to consumers through reduced premiums. “In today’s down economy, consumers need financial relief …
Writedown woes hit European insurers again on Tuesday as life insurers Legal & General Plc and Aegon NV predicted more companies would default on loans, sending insurance shares down. Legal & General more than doubled its credit default reserves to …
Reinsurers’ tough talk about raising prices on the risk cover they sell to insurers may have rung hollow before, but this time the promise is credible. Reinsurance companies such as global leader Munich Re have been flexing their muscles, predicting …
Chicago touted its financial strength in its 2016 Olympic bid Friday, with organizers saying they have at least a $1 billion safety net if the games exceed an estimated $4.8 billion price tag. Chicago is competing against Tokyo, Madrid and …
Arthur J. Gallagher reported net income for the fourth quarter dropped 80 percent. The Itasca, Illinois-based company’s fourth quarter net income declined to $4.7 million or $0.05 per share from $23.4 million or $0.25 per share in the same period …
Willis Group Holdings, the third largest global insurance broker, said Wednesday that its fourth-quarter net income fell about 35 percent, hurt by declines in foreign currency and integration costs from a recent acquisition. Net income was $62 million, or 37 …
U.S. consumers are falling further behind on their debt payments even as both borrowers and lenders struggle to keep the debt burden from getting even heavier in the face of a worsening recession and employment picture, a credit bureau executive …
