Lloyd’s has published its new 2008 – 2010 Three-Year Plan, which aims to build on its past success. CEO Richard Ward praised the achievements of Lloyd’s to date but urged caution as market conditions change. “In the two years since …
Insurance Australia Group Limited (IAG) has issued a bulletin noting that as of 11:00 a.m. today, “approximately 13,000 claims had been received as a result of the storm that hit Sydney last Sunday. Further lodgments are likely to be received …
The Loyalist Insurance Group Limited, an Ontario, Canada-based financial services holding company, announced that it has entered into a binding purchase and sale agreement with Brownstone Holdings Inc. The two companies had previously signed a letter of intent in October, …
Munich Re held an “Investors’ Day ” in London, yesterday, Dec. 12, which featured a presentation of its strategy regarding for ERGO, its primary insurance business. Munich Re CEO Dr. Nikolaus von Bomhard told investors: “With ERGO, the Munich Re …
Zurich Financial Services Group announced that it has elevated Axel P. Lehmann, a 48 year-ol Swiss national, to the post of Chief Risk Officer and to the Group Executive Committee effective January 1, 2008. In addition Zurich said that as …
Standard & Poor’s Ratings Services gave the American International Group a vote of confidence as it affirmed AIG’s ‘AA’ long-term counterparty rating and its ‘AA+’ counterparty credit and financial strength ratings on AIG’s core operating subsidiaries. S&P also raised its …
The House of Representatives on Wednesday passed another bill extending the Terrorism Risk Insurance Act, a bill that accepts most of the provisions of the Senate’s measure. However, the House also added several provisions which may not please either the …
A former Burlington, Vt. eye doctor who beat federal fraud charges for performing allegedly unnecessary cataract surgeries has lost his latest battle, with a finding by the state Board of Medical Practice that he engaged in unprofessional conduct. Attorney General …
Rhode Island’s highest court has upheld a state law that requires landlords to correct lead paint problems at their properties, rejecting a constitutional challenge brought because the law exempts small, owner-occupied buildings. The Lead Hazard Mitigation Act, which took effect …
The Pennsylvania Senate voted Tuesday to extend a malpractice insurance subsidy for doctors and hospitals through next year but rejected an effort by Democrats to divert a surplus from a malpractice reserve fund to pay for adult health insurance. The …
