Newsbriefs

CIGNA, ACE CLASS ACTION

A central Pennsylvania company has filed a class action complaint against insurance giants CIGNA and ACE for their refusal to...

STATE FARM GOES BANKING

State Farm Insurance Cos. has received federal approval to offer banking services nationwide by late 2001. The company opened State...

XL CUTS JOBS, CONSOLIDATES

Bermuda’s XL Capital Ltd. unveiled the second phase of its restructuring plan, announcing a refocusing on more profitable underwriting lines...

SLAVE INSURANCE PROBES LAUNCHED

A new California law passed this session has given Insurance Commissioner Harry Low the authority to ask all insurers in...

NATIONAL INSURES THE JACKPOT

Warren Buffett’s National Indemnity is up to the challenge of insuring a $1-billion lottery, the world’s largest ever. Experts say...

FRANKEL’S FRIENDS OR FOES’

Robert Guyer and Robert Todd Bennett, associates of former Greenwich financier Martin Frankel, pleaded guilty on Sept. 18 and Sept....

LAW FOR GENOCIDE VICTIMS, HEIRS

Gov. Gray Davis signed legislation that will permit Armernian genocide victims and their heirs to file suits in California against...

REINSURANCE FOR FREMONT GENERAL

Fremont General Corp. entered into an adverse development reinsurance agreement with Fremont Indemnity, a subsidiary of Fremont General, and XL...

PLUS EXPANDS ITS FRONTIERS

The 13th Annual Professional Liability Underwriting Society (PLUS) International Conference will take place Nov. 8-10 in San Antonio, Texas. In...

LOW KNOWS BEST

Newly inaugurated Insurance Commissioner Harry Low announced plans to reorganize the California Department of Insurance (CDI). Low, who has been...

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