The two largest auto insurance writers in Massachusetts have been given the green light to use the rates they filed for 2008 in rulings that characterize the state attorney general’s objections as “irrelevant” in the state’s new competitive marketplace. The …
Legislation that would prohibit insurers’ use of credit information narrowly advanced out of the Colorado House Business Affairs and Labor Committee Thursday on a 6-5 vote. According to the Property Casualty Insurers Association of America, the insurance industry will oppose …
An insurer’s success rests largely in the expertise of its underwriters. As the U.S. Department of Labor noted in its Career Overview series, “Great trust is placed in underwriters as an insurance company may have to pay excessive claims if …
Stock Prices: Commercial lines insurers’ stocks have been relatively flat in 2007. Chubb Corp. (NYSE:CB) posted the largest gain at 5 percent. M&A Activity: The fourth quarter started with a bang as two large publicly traded companies were acquired by …
U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the same period, according to preliminary analysis …
Shares of bond insurers rose sharply Thursday on hopes the sector could receive support from a possible bailout orchestrated by New York insurance regulators. Shares of Ambac Financial Group Inc. rose $1.49 (euro1.02), or 10.9 percent, to $15.19 (euro10.36) in …
Massachusetts’ top securities regulator on Wednesday said he issued subpoenas to a pair of municipal bond insurers, seeking information on how much the firms disclosed to cities and towns about their exposure to mortgage-related investments that have recently plunged in …
Zurich Financial Services Group has signed an agreement to acquire 100 percent of Turkish general insurer TEB Sigorta A.S. from TEB Mali Yatirimlar A.S. Zurich said the newly acquired Company would “maintain distribution arrangements with various TEB Mali subsidiaries for …
Ward Group, a consulting firm specializing in the insurance industry, is kicking off a new benchmarking program for finance and related operations. Ward Group has applied its benchmarking methodology to analyze expenses and staffing levels for the finance function including …
United in a desire to provide state money to victims of the Minneapolis bridge collapse, Minnesota lawmakers are split over whether to cap those awards at $400,000 or leave the check size to a neutral decisionmaker. Proposals aired Tuesday in …
