Uninsured drivers would face $500 fines under a bill that Vermont lawmakers plan to consider in their upcoming session. State Sen. Richard Sears, D-Bennington, said he has heard many complaints from people who have been stuck with bills from accidents …
Massachusetts Attorney General Martha Coakley wants workers’ compensation insurance rates to come down again in 2008. Coakley says small businesses can’t afford to pay too much for the insurance. The rates are set by the state insurance commissioner after hearing …
A.M. Best Co. has published a special report which examines the increasing use of “unauthorized reinsurance” in the U.S. P/C insurance industry. The report also indicates, however, that an “expensive infrastructure of collateral tracking, accounting and reporting surrounds the practice.” …
France’s AXA Group announced that it has reached an agreement with the shareholders of Russia’s second largest insurance agent network, Reso Garantia (RESO), to acquire a 36.7 percent stake in the company for a total cash consideration of around €810 …
Brazil has become the latest jurisdiction to relax collateral requirements as countries begin to see the benefit of well-capitalized investment from foreign reinsurers, notes a bulletin on the Lloyd’s web site (www.lloyds.com) “The Conselho Nacional de Seguros Privados (CNSP) – …
The Bermuda-based Argo Group International Holdings, Ltd. (which includes Argonaut Insurance) announced that its U.S. and Bermuda subsidiaries will be restructured to create a new organizational platform for 2008. “Under the new structure, all U.S. subsidiaries of Argo will be …
Boston-based AIR Worldwide has issued a bulletin indicating that insured losses from a recent strong earthquake in New Zealand “are unlikely to exceed NZD 250 million” [$191.6 million]. The quake struck about 25 miles southwest of the coastal city of …
“Climate change is one of the foremost concerns of our time,” states a bulletin from Willis. “In a relatively short time, the focus has shifted from debate over the reality of global warming to a general consensus that it not …
Brazil’s premier modern art museum had no insurance on paintings by Pablo Picasso and Candido Portinari stolen in a brazen burglary, the museum’s spokesman said on Saturday. Three thieves, armed with nothing more than a crow bar and a car …
New York-based specialty insurer Navigators Group Inc. has been added to the S&P SmallCap 600 Index. The addition to the index, widely used by private investors and money managers, will be effective after the close of trading on Monday, Dec. …
