Ireland unveiled a new corporate governance code for banks and insurers on Monday to bring ‘fresh blood’ into boardrooms and prevent a repeat of the excessive risk-taking that precipitated the country’s financial crisis. A property market crash exposed years of …
Ambac Financial Group Inc., which was the second-largest U.S. bond insurer before suffering huge losses on risky mortgages, filed for Chapter 11 bankruptcy Monday. The filing cements Ambac’s decline from a company that once guaranteed payments on more than $550 …
Washington State Insurance Commissioner Mike Kreidler has issued an order to suspend the insurance certificates of six Chubb & Son companies, effective Nov. 18, 2010. The move — which does not affect existing policies or renewals — would bar the …
USAA, the banking and insurance company that caters to military personnel, says it is investigating an e-mail scam aimed at getting its customers’ personal information. The scheme targets a wide number of people in hopes of finding some who are …
Nearly 5,000 formal complaints from more than 26,000 consumer inquiries on insurance questions have been filed by Coloradoans with the state Division of Insurance. According to the DOI’s annual report on “Complaints Against Insurers,” more than $12 million was restored …
The Kentucky Associated General Contractors Self Insurers’ Fund, a provider of workers’ compensation insurance, said it will return $11.3 million in dividends to its qualifying membership in March of 2011. The firm said this will mark the 17th straight year …
Low interest rates and write downs are expected to lead to another messy quarter for Canada’s insurers, but recent stock market strength means the profit picture should be brighter than last quarter’s weak results. And, with expectations modest for the …
Hospitals are not entitled to place liens on insurance benefits paid by insurers to third party service providers, the Tennessee Supreme Court has ruled. The case involved a man, Kevin L. Holt, who was injured in a car crash in …
Zurich Financial Services Group announced that its subsidiary Zurich Insurance Company Ltd has completed the acquisition of 80 percent of PT Mayapada Life from the Mayapada Group, which will continue to hold 20 percent of the company. “Through this transaction, …
The Nevada state Department of Motor Vehicles is notifying some motorists to check their registration status, after some insurers failed to submit required records in February. DMV spokesman Tom Jacobs downplayed the effect of the lapse. He said it stems …
