Convergence among U.S. banks and insurers were not significant according to a recent study by Conning & Co. titled “Mergers and Acquisitions and Public Equity Offerings: 2001 Edition.” According to the report, there are two dominant and divergent M&A trends …
Illinois Environmental Services Workers Comp Trust Liquidated The Circuit Court of Cook County, Ill. has granted Illinois Insurance Director Nat Shapo’s petition to place the Illinois Environmental Services Workers Compensation Trust into liquidation. An Illinois group workers compensation self-insurance pool, …
Most analysts have concluded that no serious insured losses will be caused by the current foot-and-mouth epidemic in Britain and Europe, despite the enormous economic losses. In the U.K., where the disease first appeared, over 600 farms have been affected, …
Lloyd’s announced preliminary estimates Tuesday that it would suffer an overall loss of at least £1.11 billion ($1.6 billion) for its 1999 year of account. It had already announced losses in 1998 of £1.06 billion ($1.54 billion). Lloyd’s Chairman Sax …
A joint letter from the Treasury and Commerce Departments to John Mogg, European Commission Director General for the Internal Market, has re-ignited the controversy between the U.S. and the EU over privacy regulations. The Bush administration has in essence asked …
The New York State Senate and Assembly introduced budget bills last week that omitted an Administration proposal that the Independent Insurance Agents of America, New York say would have proved costly for contractors and taxpayers alike. The proposal, contained in …
Catastrophe insurance specialist International Catastrophe Insurance Managers has entered the North Carolina market. ICAT Managers provides windstorm insurance to businesses operating in coastal areas that often lack adequate insurance protection. “North Carolina is a volatile market that has been battered …
Washington Insurance Commissioner Mike Kreidler said he expected all insurers offering earthquake insurance in the state to resume writing such coverage no more than 30 days after the Feb. 28 quake that rattled Western Washington and parts of Oregon. Kreidler, …
InsWeb Corp. has responded to recent allegations and legal action taken by eHealthInsurance Services Inc. with a counter suit. In a filing with the U.S. District Court, Northern District of California, San Jose Division, on March 22, 2001, InsWeb denied …
Even as Allstate Corp. awarded its Chief Executive Edward Liddy a 14 percent pay increase last year, the company’s year-end results were mixed. Net profit for the year fell 19 percent to $2.2 billion, largely due to a drop in …
