The New York Stock Exchange indicated that it would not resume trade on Wednesday. Reuters reported that U.S. stock markets had been shut down in the wake of terrorist attacks on New York’s World Trade Center and the U.S. Pentagon …
Conseco Inc. is suing six of its own insurers, claiming they are attempting to dodge legitimate potential claims on directors and officers policies bought by the Indianapolis-based insurer. In its annual 10-Q filing with the U.S. Securities and Exchange Commission, …
No sooner had Hyundai’s management accepted the share price demands of the American International Group/W.L. Ross investors to acquire Hyundai Securities, and two other financial subsidiaries (See IJ Website Sept. 10), than the country’s feisty labor unions attacked the deal …
The sharp,drop in world stock markets may giving Swiss Re second thoughts about its plan to issue up to $2.6 billion worth of additional shares to fund its purchase of Lincoln National’s reinsurance operations. According to London’s Financial Times, the …
France’s SCOR Group posted an impressive 53 percent increase in gross written premiums for the 1st half of 2001 to €2.361 billion ($2.12 billion), while net pre-tax profit rose 5.8 percent to€ 99 million ($89.1 million). All three of SCOR’s …
The article concerning Lloyd’s insurer and Managing General Agent Cotesworth & Co., which appeared on this Website September 7th, contained language which could be interpreted to adversely reflect on the company’s current financial status and claims paying ability. While Cotesworth …
Judge James Gardner Colins has given the Pennsylvania Insurance Department (PDI) until December 4th to come up with a plan to either rehabilitate Reliance Insurance Co., or to shut down the insolvent insurer. The PDI is still trying to marshall …
An Appellate Court in New York has blocked the implementation of the automobile insurance reforms contained in Regulation 68, which were due to go into force on September 1.(See IJ Website Sept. 5) Justice Peter Tom ordered the reinstatement of …
Once upon a time in a country far, far away, a few visionaries (and, yes, a few con artists) laid the foundations of the multi-billion- dollar motion picture industry. It required taking considerable risks then, and it still does today. …
I think more and more folks are getting comfortable at least to the point of neutrality now.” That is one insurance industry spokesman’s take on AB 1193, a bill that would prohibit insurance companies from terminating or failing to renew …
