White House officials Thursday planned to unveil a major legislative proposal aimed at improving U.S. cybersecurity and protecting the economy, an administration official said. The proposal is the result of two and one-half years of work. U.S. computers have long …
The U.S. risk council will give the public more time to comment on the criteria for picking so-called “systemic” financial firms, after lawmakers scolded the new council for being opaque on the process. U.S. bank regulator John Walsh said the …
Standard & Poor’s Ratings Services has revised its outlook on New York-based Navigators Group Inc. and its insurance units to negative from stable. S&P also affirmed its ‘BBB’ counterparty credit rating on Navigators Group Inc. and its ‘A’ counterparty credit …
The three major U.S. credit rating agencies won the dismissal of lawsuits seeking to hold them liable as “underwriters” for helping banks structure securities transactions to achieve desired ratings. The 2nd U.S. Circuit Court of Appeals in New York upheld …
Ironshore Inc. has increased capacity to $25 million for the financial lines division of Iron-Starr Excess Agency, Ltd. The limit increase is written on a gross limit basis and is the result of securing additional insurance collaboration within this specialty …
Business Owners Liability Team (BOLT Insurance Agency) has signed an agreement with Zurich Small Business to distribute its small commercial insurance products to business owners across the country on the BOLT Insurance portal platform. Using BOLT Insurance, small business owners …
Former Wal-Mart Stores Inc. warehouse workers of Cuban origin may pursue a lawsuit accusing the world’s largest retailer of discrimination, and of firing them when they complained about their treatment. Monday’s ruling by a federal judge in Chicago came as …
American International Group and the U.S. Treasury said Wednesday they will sell just under $9 billion in AIG stock, suggesting the government’s exit from its crisis-era investment will be more difficult than originally thought. The $9 billion figure is less …
The Surety & Fidelity Association of America has elected Tracey Vispoli, senior vice president, Chubb Group of Insurance Companies, as chair of the board for 2011-2012. Vispoli is the global manager for Chubb’s financial fidelity insurance business. Under her management, …
State Farm Insurance Co. has released its top 10 states for claims involving dog bites, with California on top in number of claims and Florida recording the highest cost per claim. The Bloomington-based State Farm reported that California led the …
