The U.S. Food and Drug Administration has sped up the approval process for new drugs since pharmaceutical firms began to help finance it, which has increased the number of recalls and unanticipated side effects, researchers said Wednesday. The FDA adopted …
The U.S. Securities and Exchange Commission’s top enforcement official said Wednesday that it’s still too early to tell whether the current market turmoil involves widespread securities violations or simply bad business decisions. SEC enforcement director Linda Thomsen also said more …
The Progressive Corp. has named Larry Bloomenkranz as chief marketing officer effective April 28, 2008. Bloomenkranz joins Progressive from United Parcel Service (UPS), the package delivery service, where he has been since 1989 when he joined as international advertising manager. …
Contractors in Maine and New Hampshire have been cited by federal regulators for safety violations at a residential construction site in Hermon in which one employee was electrocuted and another injured. Angel Valespi of Portland was killed and Robert McLeod …
Bermuda-based monoline insurer Security Capital Assurance Ltd. (SCA) announced that it will reduce its workforce by approximately 60 positions. “The reductions are focused largely on the insurance business origination staff and are intended to reduce long term operating costs and …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of the Hong Kong-based China International Reinsurance Company Limited (CIRe) with a stable outlook. “The rating reflects CIRe’s profitable operating performance, …
Arthur J. Gallagher & Co. announced today that it has completed the previously disclosed sale of substantially all of Gallagher Re’s U.K. reinsurance brokerage business to Aon Corporation. (See IJ web site-https://www.insurancejournal.com/news/national/2008/01/30/86833.htm). The bulletin indicated that the U.S. part of …
Lloyd’s has appointed Witold Janusz as its first representative for Poland. “His primary role will be working on the process of gaining a full establishment license for Lloyd’s in Poland,” said the bulletin. Lloyd’s said it considers the country as …
The United States should build on the North American Free Trade Agreement by negotiating a new free trade deal with the 27 nations of the European Union, Republican presidential candidate John McCain said on Wednesday. “I am an unashamed and …
Authorities say they are closing a railroad crossing in Moselle, Miss., where one motorist died and another was injured in separate collisions with trains on Monday. There are no warning lights or crossing guards at the intersection on Eastabuchie Road …
