Leading insurance and other financial services companies have signed a research agreement with federal homeland security officials to improve cybersecurity in the financial sector. Through a public-private sector memorandum of understanding signed on Dec. 6, the National Institute of Standards …
Some New Jerseyans might have to pay if they need the fire department or an ambulance. Salem’s City Council has adopted an ordinance that would allow the fire department to charge to recover costs. The council says most fire and …
The federal government’s new role in insurance regulation poses significant challenges and opportunities for the insurance industry, according to insurer trade group executives. The establishment of the Federal Insurance Office (FIO) is one of the few provisions under the Dodd-Frank …
A new state report confirms sinkhole insurance claims are rising in Florida, costing insurers millions of dollars in payouts and expenses, cropping up in counties where they have not been a problem in the past, and showing no signs of …
Wyoming’s Joint Corporations, Elections and Political Subdivisions Interim Committee has endorsed a draft fraud bill that would protect insurers from civil liability for furnishing information relating to insurance fraud and unfair trade practices to law enforcement agencies. According to the …
The current spell of freezing weather throughout the UK threatens to be quite costly. The Association of British Insurers (ABI) warns that damages from burst pipes and leaking water could top “£7 million [app. $11 million] every day this winter.” …
Dutch insurer Aegon NV will cut up to 500 jobs in the United States and discontinue sales of certain types of life insurance policies, it said on Wednesday, leading to $290 million in restructuring charges and write-downs. Aegon said the …
Zurich Financial Services Group announced today that its subsidiary, Zurich Insurance Company Ltd, has completed the acquisition of 99.99 percent of Compagnie Libanaise D’Assurances SAL, a privately owned Lebanese insurer with branch operations in the United Arab Emirates, Kuwait and …
Great Northern Insurance is suing electronics firm Apple, claiming that a faulty laptop charger for one of its computers triggered a massive house fire in Central Connecticut. The lawsuit, filed in federal court in Hartford last month, stems from a …
AIG may be getting healthier, but it hasn’t fully recovered. When AIG sold $2 billion of debt on Tuesday, it had to offer fat interest payments to investors. The extra yield it paid over Treasuries, a measure of how much …
