Articles by Laura Davison

New Pass-Through Tax Guidance Now Expected by End of July

U.S. Treasury Department rules outlining which businesses structured as S corporations, partnerships and limited liability companies can claim a 20 percent tax deduction are likely to be delayed until the end of July, according to a senior administration official. The …

ACE Authorizes $1.5 Billion of Share Buybacks

ACE Ltd., the Swiss insurer with operations in more than 50 nations, authorized $1.5 billion of share buybacks to take place in 2015. The plan replaces the authorization that expires at the end of this year, according to a statement …

Corporate Actions May Be Stupid But Not Criminal, Says AIG Chairman

American International Group Inc. Chairman Steve Miller said prosecutors must distinguish between management blunders and criminal actions when investigating corporate behavior. “A lot of executives did things that, in retrospect, look stupid,” Miller said in an interview Monday on Bloomberg …

CNA Offering 11,000 Former Employees Pension Buyouts

CNA Financial Corp., the commercial insurer majority-owned by Loews Corp., offered lump-sum payments to 11,000 former employees to encourage them to give up their pensions. The program could reduce fourth-quarter earnings by as much as $65 million, Craig Mense, the …

Hedge Funds Need to Be Wary of Push Into Catastrophe Risks: XL Group

Hedge funds looking for new investments may be pushing too fast into insurance, said Michael McGavick, the chief executive officer of XL Group plc. McGavick joins Franklin Montross, the CEO of Berkshire Hathaway Inc.’s General Re, and Ace Ltd.’s Evan …

AIG : No Dealings with Syrian Claims Adjuster

American International Group Inc. is stripping a claims adjuster in Syria from a list given to shipping-industry clients after a U.S. regulator questioned a rival about relationships in blacklisted nations. “The individual in Syria is not an employee or agent …

Chubb: No Operations or Employees in U.S. Blacklisted Countries

Chubb Corp. has distanced itself from insurance adjusters in Sudan and Syria after a U.S. Securities and Exchange Commission inquiry into business in nations blacklisted by the U.S. because of terrorism ties. The third-party adjusters who examine marine claims are …

Florida Is Hot Spot for Luxury Car Theft

Drivers of luxury vehicles in Florida should watch out. Their cars are the least likely in the U.S. to be returned if stolen. More than 25 percent of luxury cars taken from the beginning of 2010 through 2013 were never …

India’s Cyclone Hudhud May Have $400 Million Price Tag

Cyclone Hudhud, which hit India’s east coast last week, probably cost insurers $100 million to $400 million, modeling firm AIR Worldwide said. The storm damaged transportation infrastructure, power supply systems and more than 40,000 homes, the Boston-based modeler said today …

Eight P&C Insurers Get Top Marks for Climate Change Risk Management

Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and investments also included …