With a letter sent out a few weeks ago, Explorer Insurance announced that it will no longer write private automobile policies in Florida because there is too much fraud. “The company is taking this action in light of poor ongoing …
Australia’s competition regulator has again blocked National Australia Bank’s $12 billion bid for AXA Asia Pacific, dealing a blow to NAB’s 9-month efforts to cement its dominance in the world’s fourth-largest wealth management market. The ruling sent AXA Asia Pacific’s …
Willis Group Holdings announced today that it will appeal a decision by India’s Insurance Regulatory & Development Authority (IRDA) that it is “not inclined to accept” the license renewal application of the broker’s joint venture in India, Willis India Insurance …
Global reinsurance companies are reconsidering their choices of corporate domicile, according to a new report from Standard & Poor’s Ratings Services, titled “Choosing A Domicile Remains A Hot Topic For Global Reinsurers.” S&P notes that the “choice of domicile–which can …
BP Plc and its Gulf of Mexico oil well partners traded blame Wednesday after an internal BP investigation tried to downplay the company’s role in the world’s biggest offshore spill. The 193-page BP report offered a preview of how the …
Florida Chief Financial Officer Alex Sink announced today the culmination of an extensive insurance fraud investigation with the arrest of Luis M. Espinosa, 60, and Rene M. Cambert, 55, on eight first degree felony counts each for filing false or …
New York excess line brokers must soon renew their business entity licenses if they want to avoid possible licensing delays later this year, the Excess Line Association of New York (ELANY) said. All business entity licenses for excess line brokers …
Commonwealth Automobile Reinsurers, which oversees Massachusetts’ residual market for auto insurance, has appointed two members to its governing committee. The new committee members are Joseph P. Leahy Jr., a principal of Leahy & Brown Insurance and Realty in Springfield, and …
Tropical Storm Hermine, which swept through Texas on Sept. 7 and into Oklahoma on Sept. 8, surprised forecasters by retaining tropical storm strength long after it was expected to decline. The storm resulted in extensive flooding, several funnel cloud sightings …
Natural disasters are tending to kill fewer people but climate change may add to the toll by unleashing more extreme weather and causing after-effects such as disease and malnutrition, experts say. Better warnings of cyclones or heat waves and an …
