Bermuda-based Flagstone Reinsurance Holdings Limited announced that it has signed an agreement to invest, via a subsidiary, in the capital stock of Imperial Reinsurance Company Limited, acquiring a 65 percent stake in the Company. The two companies had previously concluded …
The U.S. economy has ground to a halt and probably already is in recession but faces higher inflation this year than thought just a month ago, a Reuters poll showed on Wednesday. A dismal run of economic data including two …
The New York Court of Appeals has opened the door for breach of contract suits against commercial property insurers — a move two dissenting judges warned could raise the price of insurance for everyone in the state. In two decisions …
The Internal Revenue Service (IRS) has dropped plans to change the way that captive insurance companies are taxed. U.S. Senator Patrick Leahy, D-Vt., and U.S. Rep. Peter Welch, D-Vt., said that the IRS informed them it has decided to withdraw …
Teenage Deaths “We saw a clear tipping point between ages 12 and 14, where child passengers became much more likely to die in a crash than their younger counterparts. … Long before these children ever receive a learner’s permit, they …
The House Capital Markets Subcommittee [wants] to learn about the causes and effects of recent bond insurer ratings downgrades. We will, in particular, focus on the spillover effects for municipalities and the financial services industry. Bond insurance represents a microscopic …
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Agency Salary Survey: Survey reveals fewer pay raises in 2007 but most agencies’ salaries hold firm Fewer independent agencies gave salary increases to managers, sales producers and support personnel in 2007 compared to 2006, while half of all agencies reported …
New technology, historical home insurance help to protect treasured properties Many urban and suburban areas are made more distinctive thanks to the historic homes nestled in their neighborhoods. Keeping history alive through these special homes is not always easy. With …
The World Bank launched a new catastrophe loan facility on Tuesday, March 4, and revised an existing contingency credit line designed to help increase its business with middle-income countries. The World Bank board approved the Catastrophe Risk Deferred Drawdown Option …
