$72.5 Million Class-action settlement paid by The Hartford over structured settlements in personal injury and worker’ compensation cases. The lawsuit, which covers 21,500 people, alleged The Hartford purchased annuities from its life insurance subsidiary and deducted as much as 15 …
Bermuda-based Allied World Assurance Company Holdings, Ltd announced that its Board of Directors has unanimously approved a plan for the group holding company to redomesticate its place of incorporation from Bermuda to Switzerland. The bulletin said that “holders of Allied …
Although hurricane seasons ends in November, the storm over coastal homeowners insurance New York appears to be just getting started. In mid-October, Insurance Superintendent James Wrynn plans to convene a meeting of the state’s Temporary Panel on Homeowners Insurance Coverage, …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of Pennsylvania-based Praetorian Insurance Company and Minnesota-based NAU Country Insurance Company. Both are operating companies …
A judge refused to dismiss a securities fraud lawsuit accusing American International Group Inc. of misleading investors about its exposure to subprime mortgages, which led to a liquidity crisis and $182.3 billion in federal bailouts. Reuters reported that the ruling …
Amid growing concerns about the legal practices of mortgage lenders, Old Republic National Title Insurance told agents Friday it would stop insuring homes foreclosed by JPMorgan Chase & Co., The New York Times reported Saturday, citing a company memo. Old …
Markel, Hiscox Insurer Markel has acquired the rights to American Live Stock, the animal mortality business of Hiscox Insurance Co. Terms of the deal were not disclosed, but the companies said it would close the transaction by October 1. The …
A trade group for agents in several Northeast states are urging Massachusetts regulators to rethink new paperwork requirements for out-of-state businesses’ workers’ comp coverage. Massachusetts Division of Insurance last month announced new rules requiring out-of-state businesses to submit additional paperwork …
The Hartford has appointed Lisa Morgan as senior vice president of its Middle Market commercial insurance business. Morgan will lead The Hartford’s $2 billion middle market commercial insurance unit that serves mid-sized businesses and other entities, such as educational institutions …
Salt Lake City-based The Buckner Co. named Mark A. Oligschlaeger executive vice president/chief operations officer. He joins the insurance firm after having spent the past 12 years working for Leucadia National Corp., where he most recently served as the vice …
