The board of Friends Provident PLC and Resolution PLC announced that they have agreed on terms to combine two of Britain’s largest life insurers through a stock swap. The new company, Friends Financial Group PLC, would be valued at 8.6 …
Most insurance companies doing business in New Hampshire base their customers’ insurance rates partly on their car loans, credit card balances and other debt. Five years ago, the state Insurance Department adopted rules for insurance companies to follow in using …
Oregon’s Department of Consumer and Business Services is seeking public comments on its proposed amendment of the state’s administrative rules relating to assessments against insurers to fund regulatory functions under the insurance code. The rulemaking implements recently enacted legislation (HB …
Enterprise risk management will have to meet the expectations of corporate board members and deliver real value to firms if it is to flourish, attendees of the Casualty Actuarial Society meeting in Florida heard. Bill Panning, executive vice president, Willis …
Louisiana Gov. Kathleen Blanco on July 20 vetoed legislation to sell off all policies covered by the state “insurer of last resort,” a bill that conflicted with her own plan to reduce the size of the firm. The bill by …
Congress is poised to hold a public hearing on the use of credit scores by insurers in pricing. Rep. Melvin L. Watt (D-N.C.), chairman of the Subcommittee on Oversight and Investigations of the House Financial Services Committee, announced that the …
An insurance company that paid workers’ compensation to a Thetford, Vermont, bank employee traumatized in a hostage-taking incident is seeking to recover the money from the family of the teenager charged in the incident. Dan Eaton, 16, is serving a …
The blueprint for the company was originally conceived by an ad hoc task force of senior executive officers from several mutual property/casualty insurance companies in response to the liability insurance crisis of the mid-1980s. This month, NAMIC Insurance Co. Inc., …
Insurance companies have taken exception to a reported accusation by Florida Gov. Charlie Crist that the insurance industry has broken its promises to lower rates. In the July 3, 2007, edition of the South Florida Sun-Sentinel, Crist is quoted as …
Stock Prices: Commercial insurers’ stocks were up an impressive 8 percent for the second quarter of 2007. Much of the increase can be attributed to the high premium which was paid for Ohio Casualty Corp. (Nasdaq:OCAS) by Liberty Mutual Group. …
