The Roman Catholic Archdiocese of Philadelphia spent $11.6 million on legal fees in the past two fiscal years, most of it on priest sex abuse cases, according to a financial report released Tuesday. The figure includes $10 million in the …
The Insurance Industry Charitable Foundation (IICF) is planning to expand its volunteer and charitable services to the Boston and New England region. The foundation will hold an informational meeting in Boston this month to introduce IICF to the local insurance …
The days of legally driving while texting in West Virginia are numbered. A new ban on texting that also targets hands-on cell phone chatter becomes law Friday. It’s among nearly 70 legislative bills taking effect that day. But enforcement of …
A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of Fireman’s Fund Insurance Company (FFIC) and its property/casualty affiliates, collectively …
A $275 million settlement has been reached in a nationwide shareholder lawsuit stemming from the near-collapse of the former Wall Street investment bank Bear Stearns Cos, court papers show. The settlement resolves claims that Bear, and several officials including former …
When people think of hurricane damage they usually think of Miami or New Orleans, but a new report suggests the greatest financial risk of all may be much farther north: the greater New York City area. Data analysis firm CoreLogic …
A.M. Best Europe – Rating Services Limited has reviewed and maintained the under review status of the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of the insurance subsidiaries of the UK’s AVIVA plc, as …
Nasdaq OMX Group Inc. said it will offer cash and rebates totaling $40 million to compensate clients affected by the problems with Facebook Inc.’s initial public offering, an amount well short of the losses claimed by top market makers for …
A.M. Best Europe – Rating Services Limited has downgraded the issuer credit rating (ICR) to “a” from “a+” and affirmed the financial strength rating of ‘A’ (Excellent) of MAPFRE RE, Compania de Reaseguros, S.A, a key subsidiary of MAPFRE S.A. …
A report by the Consumer Federation of America (CFA) raises concerns that computerized claims systems used by many of the nation’s largest auto insurance companies can be easily adjusted to make “lowball” claims payments to injured motorists. The group said …
