The federal government has rejected a request by Texas to be excluded from a new law that limits how much health insurance companies can spend on overhead. The law is part of the Affordable Care Act, changes made in federal …
Illinois Gov. Pat Quinn has named a new top state insurance regulator. Andrew Boron has been appointed director of the Illinois Department of Insurance (DOI), the governor’s office announced. The department has been under the direction of three separate acting …
Two Oklahoma lawmakers have filed legislation to increase the number of state employees who could opt out of state insurance coverage. The measure expands a 2011 law that allowed state employees and lawmakers to refuse state-funded coverage if they are …
California Insurance Commissioner Dave Jones and a group of insurers have settled litigation over insurer investments in companies doing business in Iran, it was announced on Friday. The terms of the settlement permit the Jones to “maintain a public list …
In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance Group and its members and the Lexington …
A.M. Best Co. has revised the outlook to stable from negative and affirmed the issuer credit rating (ICR) of “bbb” of American International Group. It has also revised the outlook to stable from negative and affirmed the financial strength ratings …
Swiss Re’s Chief Economist, Kurt Karl, has predicted that the decision by the Federal Reserve to maintain the target fed funds rate at zero to 25 basis points would help calm some of the turmoil in the global financial markets. …
When severe snowstorms prevented life-sustaining fuel supplies from reaching the frozen Alaskan town of Nome, U.S. officials turned to a Russian company for help. The relief mission through perilous, ice-choked seas was the first mid-winter fuel delivery to western Alaska, …
The Chubb Corporation reported fourth-quarter net income of $452 million, down 27 percent from $620 million net income reported during the same period one year ago. The Warren, N.J.-based insurer said the results were hurt by catastrophe losses as well …
A government watchdog says U.S. taxpayers are still owed $132.9 billion that companies haven’t repaid from the financial bailout, and some of that will never be recovered. The bailout launched at the height of the financial crisis in September 2008 …
