$6 Million Attorneys for Lloyd’s of London, which is paying jailed Texas financier R. Allen Stanford’s legal bills, say the company has spent more than $6 million on lawyers from 10 firms to defend him from allegations that he orchestrated …
Fairfax, Zenith National Insurance Toronto-based Fairfax Financial Holdings Ltd. and California-based Zenith National Insurance Corp. announced that Fairfax has received approval from the California Department of Insurance for the acquisition by Fairfax of Zenith pursuant to the previously announced merger …
Increase in Falsified Insurance Applications Tied to Economy One of the many consequences of a tight insurance market during tough economic times is that potential insureds may have difficulty obtaining coverage if they have bad loss records or conditions that …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Toronto-based Fairfax Financial Holdings Limited. Best also affirmed the ICR of “bbb” and unsecured debt rating of Crum & …
The Chubb Corp. is telling its shareholders to reject an unsolicited “mini-tender” offer by TRC Capital Corp. (TRC) to purchase up to two million shares, or approximately 0.6 percent, of the outstanding Chubb common stock at a price of $47.00 …
A New Jersey jury has awarded $7.2 million to a doctor who sued the Port Authority of New York and New Jersey after she fell and broke her elbow at a North Jersey rail station. Lawyers for Soma Mandal of …
Chartis has renamed one of its divisions as Growth Enterprises, replacing the previous division name, Small Business. Growth Enterprises, established in 2001, delivers products and platforms to growing companies in a wide range of industries. Based in Berkeley Heights, New …
An aviation firm that parks planes at an airport in New Jersey is not liable for damages to an aircraft struck by the car of sleeping driver, a state appeals court has ruled. The suit stemmed from a 2006 incident …
The nation’s most knowledgeable drivers are in Idaho, Wisconsin, Montana and Kansas, while the least knowledgeable are in New York, New Jersey, Hawaii and California. That’s according to results from the 2009 GMAC Insurance National Drivers Test, which found that …
Deana Lykins has been named president of the Insurance Council of New Jersey (ICNJ), the a trade association for the state’s property/casualty insurance industry. As president, Lykins will oversee the operations of the organization and serve as primary spokesperson for …
