April 14, 2009
A former Miss West Virginia has won a $7.2 million verdict against nine Internet companies that tried to sell pornographic videos they falsely claimed featured her. A jury in U.S. District Court in Clarksburg last week ordered each defendant to …
April 13, 2009
The American Recovery and Reinvestment Act of 2009, or the Stimulus Package, is the largest infusion of government funds into the private sector in history. Even though it does not include direct benefits to the insurance industry, it includes provisions …
April 13, 2009
The National Insurance Crime Bureau (NICB) reported that 2008 marked the nation’s fifth consecutive year of declining vehicle thefts in the United States. Although most areas experienced a reduction in vehicle theft, there were several noteworthy exceptions in states that …
April 13, 2009
There’s a need for state-based insurance regulation, according to Hawaii Insurance Commissioner J. P. Schmidt. Speaking to professors and experts in finance from around the world in his keynote speech at the 16th Annual Global Financial Conference. Commissioner Schmidt’s speech …
April 13, 2009
San Diego-based brokerage Arrowhead Wholesale Insurance Services LLC (AWIS) has added a new product to complement its focus on architects and engineer-related industries, targeting smaller low-hazard firms. The architects and engineers professional liability policy includes a full occurrence business owners …
April 10, 2009
U.S. life insurers, already weakened by the global financial crisis, are expected to report their worst-ever quarterly results in the coming weeks, stoking expectations that federal funds will be needed to prevent the sector from becoming the next casualty of …
April 10, 2009
U.S. warships stalked a drifting lifeboat where Somali pirates were holding their first American hostage on Friday, apparently hoping to win a promise of safe passage in exchange for the captive. Four pirates have been holding ship’s captain Richard Phillips, …
April 10, 2009
A.M. Best Co. has revised the outlook to negative from stable for the financial strength (FSR) and issuer credit ratings (ICR) of Liberty Mutual Group, Inc. (LMGI), Liberty Mutual Insurance Companies and Liberty Insurance Holdings (LIH) and their members, as …
April 10, 2009
In the midst of the financial turbulence, it’s easy to lose sight of longer-term trends. The economic downturn doesn’t necessarily mean the end of certain industries, but it does imply that there are some changes ahead. The global property/casualty (P/C) …
April 9, 2009
The Netherlands ING Group said on Thursday that it plans to divest operations worth up to €8 billion ($10.6 billion) to reduce risk and will focus its banking activities on Europe. ING, which was loss-making in 2008 and got a …