The multi-million dollar tab for replacing credit and debit cards that were compromised by the security breach at the Hannaford Bros. Co. will likely be borne by banks and credit unions that issued the cards. The Scarborough, Maine-based supermarket chain …
Commercial property and casualty insurer, FCCI Insurance Group of Sarasota, Fla., and Guidewire Software® announced that FCCI has successfully deployed Guidewire ClaimCenter® as its all-in-one claims system. Initially, FCCI will use ClaimCenter to support commercial auto claims. Expansion to include …
Negotiations over a compensation fund for victims of the Minnesota Interstate 35W bridge collapse have begun. A House-Senate conference committee conducted its first meeting without resolving any major differences between their proposals. The $25 million Senate bill would offer the …
A former state senator has been confirmed to be a judge at the Department of Industrial Accidents, despite questions about her qualifications and concern about a political account she plans to maintain on the bench. The Governor’s Council voted 6-1 …
Bermuda’s Allied World Assurance Co. Holdings, Ltd. reported the official launch of its U.S. reinsurance operation. The launch follows the completion of Allied World’s acquisition of Finial Insurance Co., formerly known as Converium Insurance (North America) Inc., which closed on …
Sen. Charles Schumer, D-N.Y., on Friday called for a rethinking of the U.S. financial regulatory system, perhaps moving toward a single regulator, following the collapse this month of Bear Stearns Cos. In an opinion published in the Wall Street Journal, …
Fitch Ratings has downgraded the insurer financial strength (IFS) to ‘BB’ from ‘A’ for the following ratings on Security Capital Assurance Ltd. (SCA) and its financial guaranty insurance subsidiaries: XL Capital Assurance Inc. (XLCA) XL Capital Assurance (U.K.) Ltd. (XLCA-UK) …
Standard & Poor’s Ratings Services latest report on the global reinsurance industry – “2008 Reinsurance Renewals: Underwriting Discipline Takes Center Stage As Price Adequacy Declines Further-” concludes: The pricing cycle is at a critical point.” S&P said “that while the …
A former employee of the University of Tennessee is accused of setting two fires at a Knoxville dormitory. The university says Amy Ellis, who was a housekeeper at UT’s Humes Hall, has been charged with aggravated arson. Ellis was hired …
A landmark amusement park in Rye, New York plans to step up safety messages for visitors after three people died on its rides within three years. Staffers will greet visitors at Playland’s entrance with brochures packed with safety information, ranging …
