It’s a tough time for reinsurers — “pricing is soft, regulators continue to raise the bar, capital is at record highs, competition is increasing, and reinsurers are constantly looking for ways to remain relevant to cedants’ changing demands for protection,” …
A crash last November involving buses carrying the Washington Redskins on their way to play the Minnesota Vikings will cost Minneapolis more than $237,000. The Star Tribune reported the proposed settlement will be discussed and likely approved next week by …
Esurance, the direct-to-consumer insurance company, has launched a new mileage-based insurance offering called Esurance Pay Per Mile, available first to Oregon drivers. “Esurance is responding to consumer demand for alternative insurance options for those who drive less, opting to walk, …
Even though Hurricane Joaquin is likely to remain offshore in the Atlantic, it is battering parts of the Carribbean with Category 4 strength winds and will likely drive coastal flooding and heavy rainfall along the eastern U.S. coastline, according to …
New York’s Attorney General Eric Schneiderman and the federal Employee Benefits Security Administration have agreed to share information and address violations of laws covering health insurance offered as worker benefits. They say the five-year memorandum enables them to conduct joint …
A federal review says a Houston, Texas hospital should forfeit $32 million in government grants for Hurricane Ike recovery due to misuse of the money. Riverside General Hospital was named in the Office of Inspector General report released this week. …
A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Spinnaker Insurance Company (Spinnaker), Chicago, Ill. The outlook assigned to both ratings is stable. Spinnaker is a newly formed property/casualty insurance …
Morgan Stanley is asking employees to give up their right to sue the firm in class actions for civil rights violations including discrimination based on race, gender or age, according to a former employee’s lawsuit. The firm sent an e-mail …
The value of BP Plc’s settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill rose to $20.8 billion in the latest tally of costs from the U.S. Department of Justice. The settlement is the …
Zurich announced that Paul Horgan, previously head of Group Reinsurance, has been appointed CEO of Zurich’s Global Corporate in North America (GCiNA) business effective immediately. As CEO, Horgan is now accountable for the direction, management and performance of GCiNA, a …