Bailed-out insurer AIG raised $27.71 billion cash in 10 days with the initial public offering of its Asian life business AIA and the sale of its global life unit Alico, enough to repay a credit facility from the Federal Reserve …
$300,000 Amount members of the Independent Insurance Agents and Brokers of Washington have put toward the campaign to pass Washington voter initiative I-1082. The initiative would open up the state workers’ compensation insurance system to the private market. Currently, the …
New criticism of Halliburton Co.’s work on BP Plc’s blown-out Gulf of Mexico well could make it harder for the world’s second-largest oilfield services company to escape significant responsibility for the disaster. Lawyers for the government and spill victims gained …
Garden Variety Fraud “Consumers should know that in addition to being wide-spread, insurance fraud also affects a wide-spread group of people: everyone.” —New Jersey Insurance Commissioner Tom Considine, commenting on the launch of a new unit within the Department of …
Survey Finds Agencies Take a Second Look at Hiring Employees With Past E&O Histories Today’s soft insurance market, reduced commissions and a tough economy for agency owners and their clients might be adding to agency errors and omissions (E&O) exposures. …
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 …
Massachusetts-based Eastern Insurance Group has appointed Matthew Shadrick as executive vice president of its employee benefits division, Eastern Benefits Group. The 20-year industry veteran most recently served as national sales director for the Aon Consulting Human Capital Practice where he …
Health care organizations’ medical malpractice claim frequency appears to be declining slightly and severity is leveling off, according to a new report. Data collected from 1,600 hospitals in report years 1997 through 2007 reveals that the most severe claims, those …
New York-based First Niagara Risk Management has acquired Summit Insurance Group and Summit Benefits, both of Pennsylvania, for an undisclosed sum. The two businesses, founded by Rennie Rodriguez and Kevin McAdams, will adopt the First Niagara brand immediately, the company …
A former Vermont man who claimed he bit into a Burger King sandwich and found an unwrapped condom has dropped his lawsuit, with the restaurant agreeing to drop its counterclaim. The man and the store’s owners agreed to pay their …
