New York City Police Pay More in Liability Claims Than Hospitals June 16, 2011 By Joan Gralla New York City paid nearly $521 million in personal injury and property damage claims in 2010 — marking the first...
SEC Says Brokerage Fund Should Compensate Stanford Victims June 16, 2011 By Jonathan Stempel and Sarah N. Lynch In a major victory for victims of Allen Stanford’s alleged Ponzi scheme, U.S. regulators have concluded that they should be...
Ox Bonding Expands into Florida with Specialty Bonding Programs June 16, 2011 Ox Bonding has expanded its specialty bonding programs into Florida. Ox Bonding’s affiliate insurance carrier, Upper Hudson National Insurance Co.,...
Ratings Recap: Lititz, Integon, Maiden, AmTrust, MLBA Mutual June 15, 2011 A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A+ (Superior)...
S&P Lowers, Withdraws Ratings on First Takaful June 15, 2011 Standard & Poor’s Ratings Services lowered its counterparty credit and financial strength ratings on Kuwait’s First Takaful Insurance Co. to...
Guernsey Seminar on Solvency II Assesses Rejection of ‘Equivalence’ June 15, 2011 Insurance professionals from the UK and Guernsey were told of the benefits that could result from the Island’s stance on...
Zurich to Transfer London Run-Off Business to Swiss Re June 15, 2011 Zurich Financial Services Group announced that one of Zurich’s non-core subsidiaries in the UK, Zurich Specialties London Ltd, will transfer...
Smith to Join Swiss Re as President, CEO Americas; Ozendo Retiring June 15, 2011 The Directors of Swiss Re Group and the Directors of Swiss Re America Holding Corporation announced that J. Eric Smith...
Michigan Insurer Questions FBI Story About Wrecked Ferrari June 15, 2011 By Ed White A Michigan insurance company suing to force the federal government to pay $750,000 for wrecking a rare Ferrari in Kentucky...
Texas Workers’ Comp May Enforcements Bring More than $70K in Fines June 15, 2011 Final disciplinary actions taken by the Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) for May 2011 resulted in...