The breakdown of the amounts ACE will pay individual states is as follows: D.C.: $103,703.71 Florida: $1,574,315.24 Hawaii: $74,939.23 Maryland: $251,630.51 Massachusetts: $680,951.76 Michigan: $251,958.21 Oregon: $189,475.04 Texas: $1,334,928.03 West Virginia: $38,098.27
$5 million The amount by which a federal judge in Connecticut has cut the $12 million jury award that found General Electric discriminated against and illegally fired a chief engineer. Fifty-three-year-old Hemant Mody of Avon, Conn., who died in April, …
Agents E&O Nuts & Bolts: Market Scout is offering a broad coverage form from three different “A” rated carriers. Each insurer has agreed to provide up to 25 percent discounts for agencies that have 40 percent of their professional staff …
N.Y. department prevails in liquidation bureau audit New York state’s highest court has ruled that the state auditor does not have the authority to audit an obscure division of a state agency managing $3.3 billion. The New York Court of …
ACE Group Holdings has agreed to pay $4.5 million to end a bid-rigging and price-fixing case, according to state officials. The monies will be divided among eight states and the District of Columbia. Florida’s Chief Financial Officer Alex Sink said …
10 Mass. caps auto hikes at 10% Because the shooter was in an uninsured car, says N.J. court 12 Driving the transition An interview with Mass. Commissioner Burnes N1 Survey reports drop in new lawsuits Actions filed against U.S. firms …
More members of Congress hail from backgrounds as state legislators than any other occupation. This means that the exposure of these former state-turned-federal lawmakers to insurance issues typically involved auto insurance, according to the powerful U.S. Rep. Barney Frank, D-Mass., …
The key House leader on insurance issues says he will push for a 120-day extension of the federal terrorism reinsurance program that expires at year’s end rather than simply accept the Senate bill that is narrower in scope than the …
A.M. Best Co has commented that the issuer credit rating (ICR) of “a” of Mapfre S.A. (formerly Corporacion Mapfre S.A., the holding company of Spain’s Mapfre Group) “remains unchanged following the announcement that Mapfre intends to acquire Commerce Group (currently …
Standard & Poor’s Ratings Services has assigned its ‘BBB’ long-term counterparty credit and insurer financial strength ratings to Bermuda-based insurer, International General Insurance Co. Ltd. (IGI) with a positive outlook. Concurrently, S&P withdrew its ‘BBB’ long-term counterparty credit and insurer …
