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 on Nov. 8. The filing cements Ambac’s decline from a company that once guaranteed payments on more …
Ohio Mutual, Casco Indemnity Ohio Mutual Insurance Group (OMIG) agreed to acquire N.E. Corp. and its wholly-owned subsidiary Casco Indemnity Co., a property and casualty insurer located in Saco, Maine. The transaction is expected to be completed by the end …
A new federal job safety study finds North and South Carolina among the country’s safest states in which to work. But some experts doubt whether the rates accurately reflect which states are safer. North Carolina’s rate of injuries or illnesses …
HCC Specialty Houston-based HCC Insurance Holdings Inc. is combining its Professional Indemnity Agency (PIA), HCC Public Risk and HCC Specialty Underwriters units under a newly created underwriting division, HCC Specialty. HCC Specialty will be led by Bill Hubbard as CEO. …
It’s a cat chasing-its-tail scenario. Or maybe a Catch-22. Chicken-and-egg? Whatever it is, it’s a mess. The scenario is this: The economy takes a nose dive, so the government lowers interest rates to nearly zero to jump-start the economy. Large …
A Pennsylvania woman is suing natural gas driller Chesapeake Energy Corp. and two of its subsidiaries, claiming that drilling near her rural home has fouled the water with methane and other pollutants and created a rash of health problems since …
Republicans were not only victorious in the U.S. House but also in state houses across the country. The new GOP power will give the party its largest number of seats in state legislatures since the Great Depression, according to the …
Federal workplace safety officials say they’ve cited two contractors for the scaffolding collapse that injured six workers at a construction site last June at Binghamton University in New York. The Occupational Safety and Health Administration said that Apple Roofing Co. …
Addressing Changes in EU and U.S. Regulations; North American Lloyd’s Reorganization Sean McGovern, Lloyd’s general counsel and, since February 2010, the director of Lloyd’s North America, may still have time to pursue his favorite pastime – sailing – but he …
The recovery will not be led by those who are ruled by gloom and the fear of doom. It’s a cat-chasing-its-tail scenario. Or maybe a Catch-22. Chicken-and-egg? Whatever it is, it’s a mess. The scenario is this: The economy takes …
