The Risk and Insurance Management Society, Inc. (RIMS) and the U.S. Environmental Protection Agency (EPA) reached an agreement to develop a framework for addressing risk and insurance management issues relating to climate change. RIMS and the EPA signed a memorandum …
ACORD and WISe, key standards bodies within the global insurance industry, announced they are merging their standards-development activities, clearing the way for a globally-owned, non-profit industry association to create and manage data standards from consumer to retrocessionnaire. The agreement was …
The Independent Insurance Agents of America (IIAA) told Congress that independent agents are committed to finding a solution to the speed-to-market issue that balances the demands of competition, free enterprise and product innovation with consumer protection. At a hearing on …
Second-quarter profits for Insurer Cincinnati Financial Corp. appear to be taking a hit due to larger-than-usual storm losses along with other major insurance claims. Based in Cincinnati, the company insures cars, homes and businesses mainly in the eastern U.S. and …
In a move to jump-start its falling stock and return to the black, Ohio Casualty Corp. has unveiled a major restructuring plan. With the move, the Fairfield-based insurer saw its shares of stock vault 16 percent earlier in the week. …
Indiana-based Anthem Insurance Companies Inc. has received the go-ahead from its Board of Directors to adopt a plan of conversion from a mutual insurance to a stock insurance company. The process for demutualization saw the company file its plan of …
Chinese and European Union negotiators both expressed optimism that talks, scheduled for the end of the week in Geneva, would finally see a breakthrough in China’s application to join the World Trade Organization. Meetings last week between the EU’s chief …
Holland’s ING Group announced that it had successfully completed the acquisition of an additional 45 percent interest in Mexico’s largest insurance company, Seguros Comercial America, from its parent, Savia S.A.. SCA has 29 percent of the Mexican insurance market, and …
GE Capital, the financial services arm of General Electric, finally found success in the U.K. life and pensions market with the announcement that it will acquire National Mutual in a deal valued at £570 million ($805 million).
New York’s Empire Blue Cross and Blue Shield has reportedly reached a compromise with health care unions and hospital administrators to move forward on plans to convert from a nonprofit to a profit making organization. Empire’s directors have been seeking …
