Massachusetts Gov. Deval Patrick on Wednesday signed into law legislation that prohibits creditors from requiring residential property owners to buy flood insurance in an amount that exceeds the balance of their mortgage or the value of a home equity line …
Markel Ventures Inc. has acquired a majority interest in Cottrell Inc. of Gainesville, Georgia, a firm that designs and manufactures over-the-road automobile transport equipment. Terms of the transaction were not disclosed. Markel Ventures is a wholly-owned subsidiary of specialty insurer …
Jurors in Florida have determined that the Agape Baptist Church must pay $471,798.50 to a man who was severely burned after setting fire to a pile of trash while working off community service hours. The verdict in Ocala includes $300,000 …
Gov. Nikki Haley has appointed Mike Campbell to serve on the South Carolina Workers’ Compensation Commission. Haley cited Campbell’s business experience and community involvement in the appointment. Campbell, a business development consultant and son of the late Gov. Carroll Campbell, …
An Air Algerie-operated MD-83 carrying 116 passengers and crew disappeared en route from Burkina Faso in Africa to Algiers, the aircraft´s owner said. The plane, which took off in the West African country shortly after midnight, was supposed to land …
American International Group Inc. is the lead insurer of the TransAsia Airways Corp. passenger plane that crashed near Taiwan’s Magong airport, according to Aon Plc, a broker that tracks the market for aviation coverage. The ATR-72 plane is valued at …
Everest Re Group reported second quarter 2014 net income of $290.2 million, or $6.26 per diluted common share, compared to net income of $275.6 million, or $5.56 per diluted common share, for the second quarter of 2013. After-tax operating income, …
Insurers are expected to hike war risk premiums for airlines following losses due to global conflicts, including the downing of a Malaysia airplane over Ukraine, insurance rating agency A.M. Best Company said on Wednesday. The insurance settlement of the Malaysian …
Allied World Assurance Company Holdings, AG reported net income of $151.9 million, or $1.52 per diluted share, for the second quarter of 2014 compared to a net loss of $1.9 million, or $0.02 per diluted share, for the second quarter …
A.M. Best has released a preliminary report, which indicates that the “total insurance loss of Malaysia Airlines Flight MH-17, which crashed over the Ukraine-Russia border on July 17, 2014, is not expected to result in any ratings actions.” Best’s Briefing …
