Investigative subpoenas have been issued by Florida Insurance Commissioner Kevin McCarty probing the dealings of 17 reinsurers selling finite risk policies. The companies on the receiving end of the subpoenas, including several Bermuda-based companies and those with offices on the …
Investigative subpoenas have been issued by Florida Insurance Commissioner Kevin McCarty probing the dealings of 17 reinsurers selling finite risk policies. The companies on the receiving end of the subpoenas, including several Bermuda-based companies and those with offices on the …
Transatlantic Holdings Inc. (TRH) announced that Martin J. Sullivan, president and CEO and Steven J. Bensinger, executive vice president, CFO, treasurer and comptroller, of American International Group Inc., have been elected to its Board of Directors at the annual shareholders …
A Reuters report on Friday stated that a New York grand jury is investigating potential criminal conduct by individuals at insurance company American International Group Inc. (AIG). According to the report, New York Attorney General Eliot Spitzer was offering evidence …
New York Attorney General Eliot Spitzer has bypassed due process and used McCarthy-like tactics to wage “corporate terrorism” against the insurance industry even while ignoring his own alleged conflicts of interest, a leading insurance industry executive has charged. Ernie Csiszar, …
Chubb Corp. reported on Wednesday that it received a subpoena from the U.S. Attorney for the Southern District of New York as part of an ongoing investigation involving the use of finite-risk insurance and related products. The company said in …
Not every business merger works out, for one reason or another. Just ask Citigroup and Travelers. This is especially true of independent agency mergers and acquisitions. “Independent” agencies aren’t just called that because they produce for a number of companies. …
The PIA Western Alliance has always supported vigorous insurance oversight and penalties should be imposed when agents or brokers break the law. As an association we regularly school our members to make sure their practices are in compliance with the …
Investigators’ interest in finite reinsurance transactions goes well beyond the five-year old agreement between American International Group and Berkshire Hathaway’s General Re that has been targeted by New York Attorney General Eliot Spitzer and the Securities and Exchange Commission since …
The state insurance department is appointing a consultant to audit years of alleged improper booking of workers’ compensation premiums at American International Group. New York Attorney General Eliot Spitzer and Insurance Superintendent Howard Mills announced that the practice to be …
