Sweden’s Skandia Group announced staff reductions in its U.S. subsidiary, American Skandia, aimed at eliminating 150 positions, about 13 percent of its work force, following a serious downturn in U.S. sales, that has seen its income reduced by half in …
A ruling by the New York Court of Appeals last week set breach of contract suits brought against insurance brokers to a six-year statute of limitations, because brokers are not professionals. The ruling, handed down Thursday, overturns an appellate court …
First Nevada Insurance Co. has been ordered into liquidation by a judge in the Second Judicial District Court of Nevada in response to a motion filed by Nevada Insurance Commissioner Alice Molasky-Arman. The court found FNIC to be statutorily insolvent, …
Frontier Insurance Group has announced plans to reduce staff at its Rock Hill, New York office by 67 people. This reduction in work force follows the March 13 announcement that Frontier Insurance Company, Frontier’s primary operating subsidiary, would voluntarily withdraw …
ePolicy.com Insurance Services, Inc. has aligned with The St. Paul Cos., a premier provider of property-liability insurance products, to provide a Business Insurance Policy, umbrella coverage and business auto coverage to ePolicy.com clients. The newly offered products are designed for …
A new study by the Independent Insurance Agents of America has found a renaissance in the appeal and effectiveness of the independent agency system is underway–a rebirth that is helping to grow market share for agents and their companies and …
The North Dakota House voted 74-to-22 Wednesday to reject the bill that, in its original form, would have created a car manufacturer monopoly on auto repair parts and higher costs for consumers. “The [National Association of Independent Insurers], our member …
Fortis, the Belgian-Dutch financial services group, released its 2000 results showing a healthy gain of 19 percent in net operating profit to €2.768 billion ($2.463 billion) compared to €2.136 billion ($1.9 billion) in 1999. The figures matched analysts’ forecasts. All …
Everyone from the Russian space team, residents of Japan, Australia and the South Pacific, and certainly the brokers and underwriters at Lloyd’s who insured its safe landing for $200 million, can breathe a collective sigh of relief. Mir de-orbited and …
Tokyo Mutual Life became the seventh Japanese insurer to file for bankruptcy since the end of World War II as it sought court protection, listing outstanding liabilities in excess of $7.9 billion. The move was precipitated when Daiwa Bank, TML’s …
