An advertising and public relations campaign by the Pennsylvania agency that coordinates insurance fraud prevention activities is increasing the public’s understanding of various kinds of fraud, according to a new study by the group. The Pennsylvania Insurance Fraud Prevention Authority …
Commercial property insurers in Massachusetts will be allowed to exclude terrorism coverage from commercial fire insurance policies under a new law signed by Gov. Deval Patrick. The law modifies the standard fire insurance policy to allow insurers to exclude coverage …
Peerless Insurance has appointed Robert M. Rooney Jr. to regional vice president, New Hampshire-Vermont region. Rooney will oversee growth of commercial lines business and maintaining strong agency relations in New Hampshire and Vermont. Based in the company’s home office in …
The Chubb Corp. reported that net income in the fourth quarter of 2010 was $620 million, compared to $695 million in the fourth quarter of 2009. For the year ended Dec. 31, 2010, net income was $2.2 billion, the same …
Eight Floridians who provided information that led to arrests and convictions in five major insurance fraud cases have been given rewards totaling $50,500. These citizens helped uncover more than $2 million in fraudulent insurance billings leading to 26 arrests to …
The Insurance Council of Australia (ICA) has reacted quickly to the disastrous flooding in the State of Queensland earlier this month with two new initiatives aimed at “developing a more effective and sustainable response to disasters in Australia.” On Thursday …
Lehman Brothers Holdings has been sued by a reinsurer that wants control of $450 million it said it pledged to secure various obligations, and which should not be given to Lehman creditors. Pulsar Re, a Bermuda-based reinsurer and an investment …
Yesterday Standard & Poor’s Ratings Services announced that it had lowered its sovereign rating on Japan to ‘AA-‘ from ‘AA’. The rating agency followed up that action by announcing that it has also lowered its financial strength ratings and long-term …
Bermuda-based PartnerRe Ltd. announced that during the January 1, 2011 treaty renewal season it “expects to write and bind approximately $1.8 billion of Non-Life treaty premium. On a constant foreign exchange basis, this represents a decline of 16 percent from …
XL Insurance, the global insurance operations of the XL Group, announced the appointment of Cristiana Báez-Safa as Chief Underwriting Officer Professional Lines for its Commercial Risk business outside of North America. She is based in Paris and reports to William …
