Montgomery, Alabama Mayor Todd Strange said he plans to propose an ordinance to give police authority to tow vehicles belonging to unlicensed or uninsured drivers who are involved in accidents. The Montgomery Advertiser reported that currently someone who is pulled …
New requirements that will be imposed on insurers that the Group of 20’s Financial Stability Board has designated to be global systemically important insurers (G-SII) may motivate restructurings of these companies down the road, Standard & Poor’s said in a …
The U.S. National Transportation Safety Board began a formal investigation into the Southwest Airlines Co. accident Monday at New York’s LaGuardia airport that injured eight and disrupted traffic. The Boeing Co. 737-700’s nose gear failed as the plane touched down, …
Almost of a third of American homeowners who have anti-theft devices on their homes don’t use them — even during the summer when burglars are at their busiest. A survey commissioned by Nationwide Insurance found that, while a majority of …
ACE Limited reported net income for the quarter ended June 30, 2013, of $2.59 per share, compared with $0.96 per share for the same quarter last year. Operating income was $2.29 per share, compared with $2.17 per share for the …
Industrial Alliance Insurance and Financial Services Inc., the best-performing Canadian insurer in the past year, plans to acquire a money manager in what would be the company’s biggest takeover. Industrial Alliance is looking for an asset-management purchase outside Quebec for …
“The second quarter of 2013 saw $2.2 billion of non-life catastrophe bonds issued through 14 tranches (representing 10 deals), compared with $2.1 billion issued in Q2 2012 through 12 tranches (representing 7 deals),” according to Willis Capital Markets & Advisory …
The longer-term rating implications for insurers that the Group of 20’s Financial Stability Board (FSB) has designated global systemically important insurers (G-SIIs) will be mixed, according to a report published by Standard & Poor’s Ratings Services. The report – “Possible …
Japan joined U.S.-led trade talks on Tuesday, adding its weight to a pact that covers two-fifths of the world economy but raising further doubt over whether negotiators can prise open sensitive sectors such as farm goods and state-linked firms. Tokyo’s …
Florida’s high court has ruled that insurers under a 2008 law must pay a contractor’s overhead and profit as part of the expense of repairing a homeowner’s property despite the fact the repairs may not have been made. The Florida …
