Milk, toothpaste, cough syrup, pet food, eels, blood thinner, car parts, pork, eggs, honey, chicken, dumplings, cooking oil and rice — if you can fake it or taint it, you can almost guarantee it’s happened in China. A string of …
Standard & Poor’s Ratings Services announced that it has placed its ratings on five major U.S. mortgage insurers and their core and dependent foreign subsidiaries on CreditWatch with negative implications. These groups are Old Republic, PMI, MGIC, Radian, and Genworth. …
President-elect Barack Obama has begun laying the groundwork for overhauling the troubled U.S. healthcare system, reaching out to interest groups and building grass-roots support for the huge undertaking. Obama, who takes office on Jan. 20, is using many of the …
Despite the challenges faced by the state of Louisiana since Hurricanes Katrina and Rita wrought their havoc in 2005, there are bright spots in the state’s property casualty insurance industry, says Louisiana Commissioner of Insurance Jim Donelon. The workers’ compensation …
The Ohio Department of Insurance recently issued a warning about a telephone scam targeting auto insurance customers. Department Director Mary Jo Hudson said on Dec. 1 that victims are receiving calls saying their insurance payment can’t be processed and that …
China’s 3 trillion yuan ($440 billion) insurance industry was largely insulated from the U.S. subprime crisis that battered AIG and other foreign firms, but the fallout poses the toughest challenge in a decade as profits tumble and demand for insurance …
A Lawsuit-Driven System “Our lawsuit-driven system provides little benefit to injured workers and devours financial resources that would otherwise be used to grow our economy and create new jobs.” —Oklahoma State Rep. Mark McCullough says he plans a renewed push …
The economy has been less than stellar lately. Well, duh! You might say. As this edition of Insurance Journal goes to press, it is days before Thanksgiving, a time to reflect and give thanks for the bounty of life. On …
On Nov. 5, 2008, the insurance information firm Advisen issued an updated forecast of insurance losses likely to arise from the credit crisis. Advisen is now estimating aggregate directors and officers, and errors and omissions losses of $9.6 billion, up …
In testimony in mid-November before the House Committee on Financial Services in Washington, D. Cameron Findlay, executive vice president and general counsel of Aon Corp., urged the U.S. Department of Treasury to address what he said is a primary cause …
