New Jersey-based Selective Insurance Group, Inc. today reported its financial results for the third quarter ended Sept. 30, 2008 that included a profit despite storm claims and a drop in investment income. Selective Chairman, President and CEO Gregory E. Murphy …
South Dakota officials have announced that the state now has four teams of emergency specialists to help communities respond to disasters. Gov. Mike Rounds says 41 people volunteered to be on the Incident Management Assistance Teams to help make South …
Pirate attacks on the world’s shipping have been increasing at an alarming rate. “Last week the Piracy Reporting Centre (PRC) confirmed a dramatic increase in piracy attacks on merchant vessels in the third quarter of the year,” notes a report …
Worcester-Mass.-based Hanover Insurance Group Inc. posted a $61.8 million quarterly net loss, as like other insurers it felt the pain of storm and investment losses, but the CEO said his company remains in excellent financial condition. The company reported a …
Aggrieved investors in Lehman Brothers Holdings Inc. have added new legal claims in what is sure to be one of the most closely watched lawsuits of the mortgage crisis, accusing company insiders and others of misleading them before the firm …
Maurice “Hank” Greenberg, the former American International Group Inc. chief executive, says the terms and conditions surrounding a government rescue loan are pushing the insurer closer to collapse with each day. “Time is clearly running out,” said Greenberg in a …
American International Group Inc. reduced the amount it owes under a U.S. Federal Reserve credit line by $6.8 billion, but only by borrowing from a different government lending program. AIG currently owes $83.5 billion under two emergency facilities from the …
Aon Corp., the world’s largest insurance brokerage by assets, posted better-than-expected quarterly profit Friday, helped by growth in fees and commissions. Excluding items, profit from continuing operations rose 33 percent to 69 cents per share, and revenue was up 6 …
Two long-time Baltimore area insurance agencies have combined forces. Warfield-Dorsey Co., Inc. of Hunt Valley, Maryland, has merged with HMS Insurance Associates Inc., a privately held independent insurance agency in Lutherville. The merger was effective Oct. 1, 2008, according to …
A $7.5 million settlement has been proposed for Apex, N.C. residents who evacuated homes and businesses when a chemical waste depot exploded two years ago. Attorneys for the residents and EQ Industrial Services outlined the settlement in federal court in …
