September 1, 2008
Authorities in Boston have cracked what is believed to be the largest federal hacking and identity theft case ever, involving the theft and sale of more than 41 million credit and debit card numbers. Eleven people, including a U.S. Secret …
August 13, 2008
Zurich Financial Services Group reported $2.7 billion in net income for the first six months of 2008, a slight increase over the same period last year, and a 19.5 percent return on equity. Other highlights in the earnings report for …
August 8, 2008
In a recent interview, published on the Lloyd’s web site (www.lloyds.com), Enrico Bertagna, Regional Manager for Europe, discussed Lloyd’s present and future plans to expand the London Market’s presence. Europe is a vital region for Lloyd’s and there are plans …
August 7, 2008
Authorities in Boston have cracked what is believed to be the largest federal hacking and identity theft case ever, involving the theft and sale of more than 41 million credit and debit card numbers. Eleven people, including a U.S. Secret …
August 7, 2008
Fitch Ratings has affirmed XL Capital Ltd.’s ratings as well as those of its P/C (re)insurance subsidiaries, including the Issuer Default Rating (IDR) for XL, at ‘A’, and the Insurer Financial Strength (IFS) rating of lead (re)insurance companies XL Insurance …
June 23, 2008
The floodwaters that have surged across much of Iowa this month have inspectors looking for damage to the state’s already troubled bridge network. The flooding concerns come after a study earlier this year ranked Iowa bridges fourth worst in the …
June 13, 2008
A new study from Swiss Re examines the rising impact of natural disasters, which is “driving up the cost of disaster relief and reconstruction for the public sector, especially in developing countries where insurance penetration is still low.” The report …
May 22, 2008
Massachusetts Commissioner of Insurance Nonnie S. Burnes has approved the acquisition of Commerce Insurance Co., principal subsidiary of The Commerce Group of Webster, Mass., by the Spanish insurance company Mapfre, S.A. The approval will allow Mapfre, one of the largest …
May 7, 2008
Royal Bank of Scotland Group Plc’s decision to sell its insurance business is likely to prompt a string of other banks to reconsider the strategic value of owning insurers. Faced with billions of dollars in writedowns, bankers expect lenders to …
May 5, 2008
A Greenwich, Connecticut probate judge has upheld a settlement of more than $1 million between a cruise ship line and the widow of a missing passenger. George Smith IV of Greenwich had been on a 12-night honeymoon cruise aboard a …