SPARTA Insurance Holdings, Inc. reports that it has closed its contractual arrangements for funding in the amount of $279.1 million of private equity capital from a consortium of investors led by Corsair Capital, and including Goldman Sachs, York Capital Management, …
The U.S. Department of Justice is weighing whether to intervene in a lawsuit that accuses insurance companies of overbilling the federal government for flood damage from Hurricane Katrina, a judge who unsealed the case on Monday said. A team of …
An insurer of a so-called “follow form” excess policy is not bound by the decision of a primary insurer to settle a claim, the Massachusetts Supreme Judicial Court has ruled. The state’s highest court ruled that an excess insurer is …
Standard & Poor’s Ratings Services analyzes plans to pay back capital, maximizing ROEs and the lack of opportunities to deploy capital effectively in a new report – “Capital Management, Enterprise Risk Management, And Solvency II Are Top Of European Insurers’ …
In a bulletin from its Singapore office Standard & Poor’s Ratings Services announced the results of a survey it conducted of rated Asia-Pacific banking and insurance entities to determine their exposure to U.S. subprime mortgage-related instruments. It concluded that in …
Louisiana residents considering suing their insurance companies over damage from the 2005 hurricanes shouldn’t expect an extension in the deadline from Insurance Commissioner Jim Donelon. Unlike last year, when he directed property insurers in Louisiana to extend the deadline from …
Oregon’s Department of Consumer and Business Services is seeking public comments on its proposed amendment of administrative rules relating to assessments against insurers to fund regulatory functions under the insurance code. The rulemaking implements recently enacted legislation that amended ORS …
Consolidated Edison in New York has agreed to let two insurance companies anticipating millions of dollars in claims monitor the cleanup of last month’s steam pipe explosion in midtown Manhattan, the utility’s spokesman said. The agreement between Con Ed, Travelers …
The insurance industry is vowing to take care of any claims arising out of the Minneapolis bridge collapse tragedy without delay. “There will be no exclusions – it will all be coverable. The industry wants to take care of this …
The Oregon Supreme Court has ruled that State Accident Insurance Fund Corporation (SAIF), the state workers’ compensation insurer, may be sued for damages. In John Johnson v. SAIF Corp., the plaintiff alleged that SAIF had deprived him of his right …
