With the official arrival of the 2001 hurricane season, Royal & SunAlliance is confident of its ability to respond to major disasters because of the successful track record of its Catastrophe Center, one of only a handful in the insurance …
Nebraska-based Amwest Surety Insurance Co. was found insolvent by the District Court of Lancaster County, Nebraska, and placed in liquidation, according to the West Virginia Insurance Commission, a state where the company sells insurance. The company’s dealings in West Virginia …
Georgia-based Econ-O-Check Corporation has been ordered to cease and desist from marketing unapproved insurance policies to Minnesota residents following an order from Minnesota Commerce Commissioner Jim Bernstein. The company also received a $15,000 fine. A licensed Minnesota insurance agency, Econ-O-Check …
The National Association of Independent Insurers (NAII) claimed a major victory for insurers in the recently concluded state legislative session by amending legislation that would have restricted the use of credit and territory in underwriting. The amended bill then was …
The on-line risk management service Global Risk Exchange announced that it had concluded a deal with Oil Insurance Ltd. and its subsidiary Oil Casualty Insurance Ltd. to provide them with a new technology platform. The two mutual companies, which are …
Maritime Life, a wholly owned subsidiary of John Hancock Financial Services, announced that it has agreed to buy Royal & Sun Alliance Life Insurance Co. of Canada (aka Royal & SunAlliance Financial) for approximately Cdn$ 235 ($155 million). Based on …
Thomas W. Harvey, President and CEO of Assurex, the network of independent risk management and commercial insurance brokerages, warned that U.S. firms doing international business were inadequately covering the dangers to their employees from kidnappings and ransom demands, by not …
Pennsylvania officials, sodden homeowners and insurers were questioning the apparent lack of coordinated development regulations in the wake of the floods caused by 10 inches of rain from Tropical Storm Allison. Stricter controls on building could have prevented some of …
On Tuesday Maine’s Governor Angus King vetoed a workers’ compensation bill (LD 1175) that contained provisions which would have automatically entitled injured workers to full compensation during full-time rehabilitation. The American Insurance Ass’n. strongly opposed the measure. “This bill undermined …
Lee Likhit Kongsiri and his wife Phatcha, former Lehigh County residents, were each given 14 year prison terms for defrauding six different life insurers a total of $1.6 million by faking Lee’s death in Thailand in 1995, supposedly from a …
