American International Group Inc. (AIG) has agreed to pay $146.5 million in fines and additional taxes to state insurance regulators for alleged under-reporting of premiums to states more than a decade ago. The company will pay $100 million in penalties …
The top insurance stories in the Southeast in 2010 included several disasters that caused considerable death and destruction in the region and one that didn’t do as much harm as feared. The April 20 blowout of BP’s Macondo well while …
A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Fireman’s Fund Insurance Companies, which includes Novato, Calif.-based Fireman’s Fund Insurance Company and its intercompany …
Ryan Specialty Group, Oakbridge R-T Specialty LLC, the wholesale brokerage unit of Ryan Specialty Group LLC, acquired Bloomfield, Conn.-based Oakbridge Insurance Services LLC, an insurance intermediary focused exclusively on executive and professional liability exposures and insurance solutions. Terms were not …
The state Fire Marshal’s office says an unknown malfunction in the engine compartment of a car parked under a house sparked a fire that caused $800,000 in damage to the home and surrounding dwellings. The fire broke out Friday evening …
A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa” of Cincinnati, Ohio-based standard market property/casualty group, The Cincinnati Insurance Companies (CIC) and its members. A.M. Best also has affirmed …
A Delaware jury that broke precedent by placing some of the blame for a priest abuse case with the local parish has gone light on the punitive damages. The jury last week chose to make St. Elizabeth’s parish in Wilmington …
Earlier in 2010, Colorado State’s Tropical Meteorology Project forecasted eight hurricanes to emerge from 15 named tropical storms in the Atlantic basin. Of those, four were forecasted to become major hurricanes. On August 29, Tropical Storm Earl was upgraded to …
American Strategic Insurance Corp. (ASI) has entered Virginia, Delaware and Georgia residential property markets. The company offers policies for homeowners, renters, condominium owners, seasonal residents and investment property owners through independent agencies. The company also offers flood coverage. ASI, a …
Travelers is now offering control of well coverage on an admitted basis to upstream oil and gas clients. This coverage will be immediately available on an admitted basis in 25 states, and is expected to be available in most other …
