A major Chinese insurer has announced plans to raise up to $22 billion (euro15.0 billion) for acquisitions at a time when U.S. and European banks, battered by mortgage losses, want infusions of Asian capital to replenish their balance sheets. Ping …
Margin compression and continued pricing erosion will put increasing pressure on the insurance industry to achieve top line objectives in 2008, according to industry analysts. “With pricing becoming increasingly softer, leadership is going to become all the more important in …
Guard Insurance Group in Wilkes-Barre, Penn. is venturing beyond its workers compensation roots by introducing a small businessowners policy (BOP) during the first quarter of 2008. The company said it will begin rolling out the new BOP in Pennsylvania before …
The victory scored last month when the Empire State enticed Berkshire Hathaway to begin writing municipal bond insurance in New York is part of a larger strategy to help stabilize the faltering market for that coverage, said the state insurance …
The Supreme Court last Friday said it would rule on an appeal by MetLife Inc. in a case that could make employee benefit plans more expensive. The dispute centers on whether insurance companies such as MetLife have a conflict of …
Some Tennessee restaurant owners are concerned that a small, unrated insurance company with ties to the state has been chosen to take over a worker’s compensation fund. Already liable for a $4.8 million fund that the state says was mismanaged, …
The Florida Office of Insurance Regulation issued a final order immediately suspending Allstate Insurance Co. and its subsidiaries from writing any new business in all lines of insurance in Florida – including auto and commercial – until the company fully …
Commissioner Poizner Announces $3.5 Million Settlement with LandAmerica Corporation, $2 Million Refunded to Customers Commonwealth Land Title, Lawyers Title, and Transnation Title agree to Cease and Desist from unfair rating practices Three California title insurance companies have been ordered to …
Florida’s requiring that insurance company executives testify publicly about why their property insurance rates have not gone down proves the state is serious about its efforts to make property insurance available and affordable, according to Insurance Commissioner Kevin McCarty. “I …
Worcester, Mass.-based The Hanover Insurance Group, Inc. has agreed to acquire Verlan Holdings, Inc., a Silver Spring, Maryland-based holding company that provides insurance to manufacturers and distributors of chemical-related products. Terms of the deal were not disclosed. Verlan’s primary business, …
