RSA Insurance Group PLC said that it plans to cut 1,200 jobs as it reported a 7 percent fall in its full-year profit. For the year ending Dec. 31, RSA reported a profit of 586 million pounds ($831 million), down …
The Nebraska Supreme Court has ordered a judge to put a new trial on hold in a multimillion-dollar insurance dispute and follow the high court’s ruling from last summer. Last June, the Supreme Court threw out the nearly $4.7 million …
Insurers are increasingly using scenario analysis to evaluate multiple risks, but the industry could do more to fully exploit state-of-the-art approaches, according to Swiss Re’s new sigma study. Scenario analysis helps insurers make business decisions by considering a number of …
Michigan Gov. Jennifer Granholm’s call for auto insurance companies to freeze their rates has won over eight companies thus far, although they are insurers with small share of the market in the state. In a Feb. 3 order, Granholm asked …
New York Insurance Department Superintendent Eric Dinallo issued a reminder last week that insurance companies must file annual financial reports or supplements that comply with the accounting requirements prescribed by the state’s insurance law. “New York State Insurance Law sets …
A leading insurance company in Guyana says it has lost nearly $1.5 million in pension funds after investing with Texas financier R. Allen Stanford. Spokesman Hewley Nelson says the “Hand in Hand” company began investing money with Stanford Financial Group …
Donegal Group’s Strategy Has Helped It Grow From Writing in 1 State to 19 in 20 Years Even in a good economy, mutual insurers face challenges trying to raise the capital they need to grow since they don’t have any …
The accidental deaths of two teenage boys at an excavation site in 1997 were separate occurrences under the liability insurance policy of the property owner, the Illinois Supreme Court has ruled in reinstating a $2 million judgment against the insurer. …
As mounting economic uncertainty leads to new and increasingly complex business challenges for executives, Travelers Bond & Financial Products has unveiled new program enhancements and a Private/Mutual Insurance Company endorsement as part of its Travelers SelectOne for Insurance Companies product. …
Louisiana Workers’ Compensation Corporation (LWCC) announced it will pay a $7.5 million dividend to qualifying policyholders in February. The pay out will bring LWCC’s cumulative total dividend paid to policyholders over the past six years to more than $121 million. …
