The country may not need a natural catastrophe backup fund like it has for terrorism exposures, provided government allows insurers to create catastrophe reserves on a tax-deferred basis, according to New York’ insurance regulator. New York State Superintendent of Insurance …
Rhode Island Gov. Donald Carcieri has been handed a setback in his campaign to fire two Beacon Mutual Insurance Co. board members. Superior Court Judge Steven Forunato has issued a temporary restraining order delaying Carcieri’s decision to remove George Nee …
USI Holdings Corp. of Briarcliff Manor, N.Y. has acquired the Pettineo Insurance Agency Inc. of Fort Lauderdale, Fla. The acquisition of this personal and commercial lines broker is expected to contribute approximately $1.3 million in revenue to USI on an …
Tort reforms are the best proven instrument for reducing medical liability insurance premium growth, according to a new study conducted by Stanford University Professor Daniel P. Kessler, JD, PhD, who also serves as a research associate for the National Bureau …
AXA Art Insurance announced it is offering a $100,000 reward for credible information leading to the location, recovery and return of seven Milton Avery paintings that have been reported missing while en route from Boca Raton to New York. The …
The business-backed Coalition to Insure Against Terrorism (CIAT) says it welcomes the recent request by the President’s Working Group on Financial Markets (PWG) for public comments on a long-term terrorism insurance solution but hopes that the analysis of the issue …
Hub International Limited announced the acquisition by its New York subsidiary, Hub International Northeast, of the assets of Hirsch Wolf & Co., LLC, a Brooklyn-based property and casualty insurance brokerage with special expertise in the healthcare industry. Terms of the …
New Mexico’s suspended Insurance Superintendent Eric Serna, under investigation over a bank contract, is named in a lawsuit that alleges title insurance firms sought to persuade him to raise rates by donating to a nonprofit foundation he helped found. The …
Portland, Ore., Archbishop John Vlazny is warning Catholics throughout Western Oregon that the Archdiocese is facing “serious cash flow problems,” and needs to cut $1 million from its budget for the upcoming fiscal year. Parishes and schools throughout the western …
Scottsdale, Ariz.’s Unified School District officials say a hazing incident involving Coronado High School band students will cost the district nearly $50,000. A victim of a high-profile hazing case that occurred at a northern Arizona band camp in August filed …
