Alaska, Hawaii and North Carolina get thumbs up while New Jersey, New York and Florida get thumbs down for their tort liability costs in the latest ranking by a free-market think tank. The states with the worst performance had the …
Pennsylvania-based PMA Capital Corp. has been acquired by Old Republic International Corp. in a stock-swap transaction valued at around $365 million. The transaction is expected to close in the third quarter, pending approval by PMA’s shareholders, and regulators. PMA Capital …
Yolande Sprague could be forgiven for feeling virtuous. Four years ago, just after giving birth to her second child, the Dover, new Hampshire stay-at-home mom heard about BPA, a chemical inside some plastics that can leach into water or food …
Reacting to BP’s Gulf of Mexico oil spill, a high-ranking U.S. senator Wednesday sought to toughen prison sentences for corporate officials who are found guilty of environmental crimes and to broaden fines for violations. Senate Judiciary Committee Chairman Patrick Leahy, …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Cayman Islands-based Eastern Re Ltd. S.P.C., both with stable outlooks. The ratings recognize Eastern Re’s “strategic affiliation with the holding company, …
BP Plc shares tumbled nearly 16 percent on U.S. exchanges to a 14-year low Wednesday on rising fears about how the wounded company will cope with the massive costs of the Gulf of Mexico oil disaster. The stock has now …
The UK’s Miller Insurance, a specialist independent insurance and reinsurance broker, announced that Nick Drury has joined the company, as a specialist in the placement of corporate multinational accounts. Drury has more than 40 years’ insurance industry experience. He previously …
Global regulators cannot adopt one-size-fits-all rules and practices as they react to the financial crisis, but it is possible to have common principles, a top Japanese regulator said Wednesday. Other market watchdogs and industry members at a conference here echoed …
Credit insurer Coface announced from its Paris headquarters that the Russian state authority for insurance (FSSN) has granted a license to its subsidiary “ZAO Coface Rus Insurance Company” based in Moscow. Coface is the first international credit insurer to obtain …
The Bermuda-based Catlin Group Limited has announced the appointment of Andreas Weber as Group Treasurer. He is based in Zurich, Switzerland, and will join Catlin in July. Weber will report to Benjamin Meuli, Catlin’s Chief Financial Officer. “As Group Treasurer, …
