The Travelers Companies Inc. announced its preliminary estimate of net losses relating to Superstorm Sandy is approximately $650 million after tax and after estimated recoveries from reinsurance. This $650 million estimate reflects a gross loss estimate (pre-tax and before reinsurance) …
Financial performance of technology companies is tied to certain “red zone” risks, critical non-financial risks where a company must take action to become adequately prepared. These critical non-financial risks include business decline due to economic conditions, hiring and retaining employees, …
A federal appeals court said an insurance company doesn’t have to pay $1.75 million in damages as part of a settlement involving privately owned juvenile detention facilities in northeastern Pennsylvania. Travelers Property Casualty Co. claimed it was free from paying …
Six years ago, Lorena Martinez arrived in Hartford, Conn., seeking opportunity. A native of Peru, able to speak little English, Martinez found employment with a local hotel. While there, Martinez quickly realized the barriers she faced in getting ahead without …
The Travelers Companies Inc. reported $806 million in net profit for the 2012 first quarter. The first-quarter profit was down 4 percent when compared to one year ago, but the result during the year-ago period was boosted by a one-time, …
The owner of a Des Moines firm that provides companies with temporary employees has been sentenced to nearly five years in federal prison in a scheme to reduce the cost of his workers’ compensation insurance. The U.S. attorney’s office says …
Travelers Companies Inc.’s business insurance had renewal premium rate gains of 8 percent for the fourth quarter 2011 and 10 percent for December, said CEO Jay Fishman. He offered his remarks during the company earnings call held yesterday. Travelers has …
Indian financial services firm Reliance Capital is in talks with potential partners to sell up to 26 percent in its general insurance business though a deal may be at least six months away, its chief executive told reporters late on …
Travelers, Fireman’s Fund and Electric Insurance are the latest insurers to reach a settlement with Massachusetts attorney general’s office over motorcycle insurance premiums. The three companies are accused of overcharging the state’s motorcycle owners and later this month, these insurers …
The Hanover Insurance Group Inc. has appointed Meredith Lavallee as personal lines territory sales manager for the company’s Massachusetts market, effective Aug. 1. In her new role, Lavallee will help the company’s agents sell The Hanover’s portfolio of personal lines …
