Southern California Edison says it is seeking to hold Mitsubishi Heavy Industries Ltd. and Mitsubishi Nuclear Energy Systems liable for defective steam generators that forced the closure of the San Onofre nuclear power plant. The utility says in a statement …
Europe’s insurers criticized the approach taken by international regulators which named firms considered systemically important as they try to reduce financial risks from the sector. Two global financial watchdogs released a list of nine insurers late on Thursday they said …
A federal judge denied BP Plc’s attempt to suspend payments to people and businesses claiming damages related to the 2010 Gulf of Mexico oil spill, while an investigator —— former FBI Director Louis Freeh— looks into possible misconduct in the …
The Tennessee Department of Labor and Workforce Development is holding a series of 14 seminars across the state to explain the Workers’ Compensation Reform Act of 2013. The new law removes injured workers’ claims from state trial courts and instead …
Public companies would be required to disclose how much more their chief executives are paid than rank-and-file workers under a rule to be proposed next month by U.S. securities regulators, according to two people familiar with the matter. The Securities …
The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance lobbyist working on the issue on Capitol Hill. If Congress agrees to …
Inflation Factors on Personal Lines Property. Some personal property forms lack automatic inflation adjustments that increase the structural limit annually. Usually these are dwelling forms, but not always. In any given year, the difference is usually so minor that the …
The U.S. insurance industry told Senators that a surge in weather-related catastrophes has forced billions of dollars in payouts, offering an assessment at odds with Republicans who have expressed doubt about global warming. The Reinsurance Association of America, which represents …
The ACE Group has appointed Jarrod Hill to Executive VP and Head of International Property for ACE’s Overseas General business, effective September 1, 2013. He will have responsibility for all of ACE’s retail commercial property insurance business in 50 countries …
The ACE Group has named Damien Sullivan as chairman of the company’s Asia Pacific region. He is currently the region’s president. As chairman he will focus on governance, strategic planning and senior customer relationships across the region, which spans North …
