Vote on Prudential Systemic Risk Designation Was 7-2 September 23, 2013 Prudential Financial Inc., the second-largest U.S. life insurer, was designated systemically important in a 7-to-2 vote by a council of...
FEMA Chief Disappoints Senators, Says He Can’t Delay Flood Insurance Rates September 23, 2013 By Andrew G. Simpson Pressure continues to build in Congress to delay implementation of flood insurance reforms that are raising premiums for thousands of...
PCS Shows How Cat Loss Estimates are Made, and Why They’re Important September 20, 2013 By Charles E. Boyle The Property Claims Services (PCS) unit of Verisk Insurance Solutions could be described as the ultimate end product of risk...
JLT to Acquire Towers Watson Reinsurance Brokerage Unit, Expand Into U.S. September 20, 2013 UK-based broker Jardine Lloyd Thompson Group plc (JLT) said it is acquiring the reinsurance brokerage business of New York-based Towers...
JPMorgan Guilty Admission Marks Shift in SEC Policy September 20, 2013 By Joshua Gallu The U.S. Securities and Exchange Commission, in settling claims with JPMorgan Chase & Co. over its handling of a $6.2...
Judge Accepts Halliburton’s Guilty Plea in Gulf Oil Case September 20, 2013 By Allen Johnson Jr. and Margaret Cronin Fisk A federal judge accepted a Halliburton Co. unit’s guilty plea to destroying tests conducted on cement work connected to the...
Travelers Launching Low Cost, Segmented Product in New Personal Auto Strategy September 20, 2013 By Young Ha The Travelers Companies Inc. is adopting a new strategy to become more price-competitive in personal auto insurance. Travelers’ CEO Jay...
Prudential Designated Systemically Risky, Subject to Federal Reserve Oversight September 20, 2013 By Emily Stephenson Insurer Prudential Financial Inc. said on Thursday that U.S. regulators had voted to designate the company as systemically risky, bringing...
Alterna Enters MPL Space Through Captive, RRG Management Services September 20, 2013 Alterna has entered into the alternative risk marketplace, specifically focusing on providing medical professional liability services for physicians, clinics, and...
Best Affirms Donegal Insurance Group Ratings; Outlook Stable September 19, 2013 A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a”...