Federal authorities last month assured consumers that a meat plant linked to nearly 50 illnesses caused by tainted ground beef had made enough changes after a recall to ensure that its products were safe. Less than a month later, the …
Natick, Massachusetts-based Eastern Insurance Group has acquired Northborough, Mass.-based Kittredge Insurance Agency Inc. Eastern Insurance, part of Eastern Bank, said the acquisition increases its customer base west of Boston, where it already has eight locations. In all, Eastern Insurance has …
Fitch Ratings has affirmed XL Capital Ltd.’s ratings as well as those of its P/C (re)insurance subsidiaries, including the Issuer Default Rating (IDR) for XL, at ‘A’, and the Insurer Financial Strength (IFS) rating of lead (re)insurance companies XL Insurance …
Massachusetts personal lines insurer Safety Insurance Group, Inc.’s second quarter results show the insurer remains profitable under the new managed competition pricing system for private passenger auto even though premiums have declined. Net income for the second quarter was $20.9 …
Massachusetts safety officials have found that defective welding and corrosion led to a boiler explosion at the Salem Harbor Springs power plant that killed three workers. The Department of Public Safety said Thursday that it was pursuing disciplinary action against …
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
$475,000 Amount spent on state lobbyists in Massachusetts by Commerce Insurance Group in the first six months of 2008 – making it the largest single spender on lobbying in that time frame. The expenditures come as the state’s largest auto …
The Massachusetts Supreme Judicial Court has ruled that physicians can be held liable in a wrongful death action when their negligence lessens a patient’s chance of survival. The ruling, which for the first time upholds the “loss of chance” doctrine, …
Subprime and Credit Crisis Filings Show No Sign of Abating Is litigation stemming from the subprime- and credit crisis-related activity increasing directors’ and officers’ insurance premiums? Despite the steady flow of new securities litigation during the first half of 2008, …
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
