Torus has entered the U.S. surety market with the launch of Torus Surety and the acquisition of First Sealord Surety Inc. The deal should be finalized in January 2012. Torus Surety will focus on providing contract surety in the United …
Armonk, N.Y.-based bond insurer MBIA reached a settlement with Morgan Stanley over credit default swaps. Previously, Morgan Stanley had purchased these derivative contracts from MBIA to help protect its commercial mortgage-backed securities. The settlement terminates these contracts Morgan Stanley had …
Law enforcement officials in Nebraska continue to grapple with how to enforce a 2010 state law that bans texting while driving. Columbus police have issued one ticket and three warnings since the ban went into effect almost 18 months ago, …
A suburban St. Louis, Mo., company could face nearly $200,000 in fines after the U.S. Occupational Safety and Health Administration cited 37 health and safety violations in an investigation that began after a fatal accident. A worker at Resource Management …
The Massachusetts Division of Insurance announced a $125,000 financial settlement with Progressive Direct Insurance Company. Regulators said Progressive erroneously informed some Massachusetts consumers that they had used credit information to determine their auto insurance rate through its website. Regulators said …
A medical malpractice claim alleging lack of informed consent requires expert medical testimony to establish harm, Ohio’s high court has ruled. In a case arising from a medical malpractice suit filed by Robert and Mary White against Dr. Warren Leimbach …
Hub International is expanding into the Latin American market as the result of a merger agreement with Brazilian broker Harmonia Corretora de Seguros Ltd. The deal marks the first expansion for Hub outside the U.S. and Canada. The agreement makes …
A.M. Best Co. has placed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Penna.-based First Sealord Surety, Inc. (FSSI) under review with negative implications. The rating action reflects the “significant operating loss as of …
USI Insurance Services, an insurance brokerage and financial service firm in Briarcliff Manor, N.Y., has completed its acquisition of Bluff Head Enterprises in Rhode Island. Bluff Head Enterprises is a Wakefield, Rhode Island, based employee benefit consulting and brokerage firm …
Residents in North Carolina will see a rate decrease when it comes to their dwelling fire coverage while at the same time seeing no change in the cost of their dwelling extended coverage. North Carolina Insurance Commissioner Wayne Goodwin has …
