Commercial insurance buyers in all product lines should see rates rise moderately through the remainder of 2013, although commercial property rates for non-catastrophe exposed risks and some specialty lines may see slight reductions, according to global broker Willis in its …
A federal judge on Wednesday approved a $115 million settlement between American International Group Inc. shareholders and former CEO Maurice “Hank” Greenberg and other defendants over alleged improper accounting at the insurance giant. The accord is the latest in a …
Despite the McCarran-Ferguson Act, which reserved the regulation of the “business of insurance” to the states, the Department of Housing and Urban Development (HUD) has given itself the ability to upset and invalidate long-standing underwriting and ratemaking practices for homeowners’ …
The Colorado State University team is predicting an above-average 2013 Atlantic basin hurricane season with 18 named storms and a 72 percent chance one will make landfall somewhere along the entire Eastern seaboard. Nine of those 18 named storms are …
President Barack Obama proposed reducing the most expensive part of the farm safety net by cutting the subsidy to farmers for buying crop insurance. At present, the government pays 62 cents of every $1 of insurance premium. Farmers collected a …
Aspen Insurance, the insurance segment of Aspen Insurance Holdings Ltd., has formed a specialty marine, energy and construction unit within its US Insurance business, led by Anthony S. Carroll who has been named executive vice president. The unit complements Aspen …
Congress appears ready to take up gun control legislation for the first time in years, with proposals under consideration focusing on background checks, straw purchases and money for school safety. If the debate stays on those issues, the insurance industry …
A.M. Best Co. has downgraded the issuer credit rating (ICR) to “a” from “a+” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of National Lloyds Insurance Company as well as the FSR of ‘A’ (Excellent) and ICR of …
Wal-Mart Stores Inc., the world’s largest retailer, is making its biggest push yet to try to improve conditions at factories that produce its clothing after a fire at a Bangladesh factory last year killed 112 people. The company also said …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the U.S. life/health subsidiaries of the Netherlands Aegon N.V. Aegon’s U.S. life/health companies are collectively referred to as Aegon …
