A JPMorgan unit cannot force insurers to pay a $250 million settlement between failed investment bank Bear Stearns and government regulators, a state appeals court in New York ruled on Tuesday. Reversing a trial court, the appeals court threw out …
Europe’s “no pain no gain” attitude to solving its sovereign crisis risks exacerbating the bloc’s problems, choking off the very growth needed to raise the money to pay down the debt. From Athens to Dublin, and almost everywhere in between, …
The liability risks facing company directors and officers are intensifying in the wake of the economic crisis. At the head of the list are “regulatory investigations and enquiries,” which pose the greatest perceived threat to companies and their directors. The …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of the Luxembourg-based West of England Ship Owners Mutual Insurance Association (WOE or the Club); however, the …
From Munich Re’s perspective, the recently concluded climate summit in Durban “yielded disappointing results that fail to reflect the world climate’s dramatic situation.” Prof. Peter Höppe, head of Geo Risks Research at Munich Re, stated: “Durban has had the effect …
A Florida workers’ compensation insurer has reached a deal with a California company to underwrite its workers’ compensation policies through its Florida agency-owned captive program. Zurich Financial Services Group recently announced that through its wholly-owned subsidiary, Zurich American Insurance Co., …
Four people will spend five years on probation after being convicted of pocketing money from Gulf oil spill claims. The Press-Register reported that U.S. District Judge William Steele also ordered the four to pay back money they received from the …
Four insurance agencies in New Hampshire announced the formation of a new partnership called Northern United Agents Alliance (NUAA). The agencies said the move will help combine their resources to meet the needs of a changing marketplace. The four participating …
Mutual insurers are pleased with a new proposal that makes it clear they would continue under state regulation and not be governed by the liquidation provision of the new federal Dodd-Frank Act. The proposed rule issued by the Federal Deposit …
Willis has announced the global launch of its insurance placement system, WillPLACE. The online tool was designed to help the broker place its clients with the most appropriate insurers. WillPLACE will let Willis gather data about the risk appetites of …
