Washington taxpayers and the State Fund will get significant financial relief from the federal government in the event of an act of terrorism that results in catastrophic losses to the workers’ compensation system. The law requires that workers’ comp coverage …
Standard & Poor’s Ratings Services announced that it has affirmed its ‘AAA’ ratings on American International Group Inc. and various AIG operating companies. S&P reaffirmed the increasingly rare triple ‘A’ rating despite the company’s announcement that it would incur a …
New York Governor George E. Pataki and New York City Mayor Michael R. Bloomberg jointly announced new legislation that will allow a wider range of businesses “the opportunity to utilize captive insurance companies to retain, fund, and better manage some …
It looks like changes are underway in the Texas homeowners market. The legislature seems determined to bring down rates one way or another, and Insurance Commissioner Jose Montemayor’s preliminary report—developed from data provided by homeowners insurers—showing rates as being too …
With the selection of the design submitted by Berlin-based architect Daniel Libeskind, rebuilding of the World Trade Center site has begun. Walking around the 16 acres of open space in the heart of New York one finally begins to comprehend …
Federal District Court Judge John Martin has ruled that Silverstein Properties, the master leaseholder of the World Trade Center, must submit the dispute over the valuation of the buildings lost as a result of the Sept. 11 attacks to an …
Gregory V. Serio, the Superintendent of the New York State Insurance Department, has announced the “Top 10 list of worst cases of insurance fraud in New York State during 2002.” The “winners” were selected from more than 1,200 new cases …
A.M. Best Co. has downgraded the financial strength rating to A (Excellent) from A+ (Superior) of Liberty Mutual Insurance Companies (Liberty Mutual) (Boston). A.M. Best has also downgraded the financial strength rating to A (Excellent) from A+ (Superior) of Liberty …
NY authorities announced the arrest of Merle D. Hover of Glen Aubry, New York, on charges of insurance fraud and attempted grand larceny stemming from a fraudulent claim he submitted stating that his daughter was killed in the World Trade …
Aon Corp.’s fourth-quarter net income soared and the company appears to have made a stunning recovery from the impact of the Sept. 11, 2001, attacks on the World Trade Center. The Chicago-based insurance brokerage and consulting firm posted fourt-quarter earnings …
