French insurer Axa SA said Friday it received a binding offer for its reinsurance business from a consortium of private-equity firms led by Stone Point Capital. The deal calls for the consortium — which also includes Vestar Capital Partners and …
New York-based Americans for Insurance Reform has released a report calling for the complete removal of the private sector from the hurricane insurance business in Florida. AIR has called on Florida’s Legislature to establish a privately-run state plan for the …
Storms swept through the Atlanta area early Saturday morning, causing “tornado-like” damage to homes and businesses in densely-populated suburbs, state officials said. Authorities said the storms damaged homes and businesses in Cobb, Fulton, Gwinnett and Hall counties. No injuries were …
Lakeland, Fla.-based Summit, a provider of workers’ compensation insurance services in the southeastern U.S., has announced Francis “Fran” Graham, joined the company in a new position as Southeast Region director of sales. He will oversee the firm’s sales force in …
A DeKalb County, Ga. Superior Court jury has returned a $5.6 million judgment in Decatur, Ga. against Atlanta Casualty Co. for bad-faith practices in a lawsuit involving an 86-year-old woman who had automobile insurance with them. Dimple Thomas, now 86, …
Owners of homes worth more than $1 million could continue to get hurricane coverage from state-run Citizens Property Insurance until 2011, but would pay a 25 percent surcharge for their coverage under a measure approved Friday by a Senate panel …
In torrential rain, they pulled residents to safety through raging waters, pounded on doors to move people out of harm’s way and cleared people off a bridge seconds before it was hit by a wall of water. Now they’re being …
France’s AXA Group acknowledged that it has received a binding offer for its reinsurance operation – AXA Re and its subsidiaries – from Paris Re Holdings Limited. As previously reported (See IJ Website April 6), AXA had been in talks …
As Senate Banking committee members in Washington begin the debate over creating a new federal regulatory scheme for what is now state-regulated insurance, state lawmakers across the country are voicing their agitation with the growing trend of federal regulatory preemption …
Canada’s home, car and business insurers have countered recent reports suggesting that the cost of homeowner’s insurance in New Brunswick is rising. The industry’s attempt to set the record straight about homeowners insurance pricing follows an earlier criticism of a …
