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06, 2016
California Commissioner Asks National Regulators to Block Aetna-Humana Deal
California’s insurance commissioner on Thursday urged national antitrust regulators to block health insurer Aetna Inc’s proposed $34 billion acquisition of Humana Inc. David Jones, whose state Department of Insurance does not have authority to block the deal, said the acquisition …
28
06, 2016
Texas Workers’ Comp Discount, Interest Rate Set for Q3
The Texas Department of Insurance, Division of Workers’ Compensation has set the rate for any interest or discount provided for the third quarter of 2016 at 4.03 percent. This rate is computed by using the treasury constant maturity rate for …
28
06, 2016
U.S. Supreme Court to Weigh Miami Predatory Lending Lawsuit
The U.S. Supreme Court on Tuesday agreed to decide whether Miami can pursue lawsuits accusing major banks of predatory mortgage lending to black and Hispanic homebuyers resulting in loan defaults that drove down city tax revenues and property values. The …
29
06, 2016
Marine Specialist Latitude Brokers Launches Singapore Office
Latitude Brokers, the Hong Kong-based marine insurance specialist, has opened an office in Singapore, their second in Asia. With the continued growth of the marine markets in Singapore as well as the Lloyd’s platform, the Singapore office is an essential …
29
06, 2016
GE Erases ‘Too-Big-to-Fail’ Tag with Sale of Financial Businesses
General Electric Co. won approval to drop its designation as a too-big-to-fail financial institution, capping a transformation that has included the sale of nearly all of its lending business. The decision marks the first time a company has been granted …
29
06, 2016
Citing Health Risks, Oakland City Council Ban Coal Shipments
The Oakland City Council in California voted unanimously to kill a plan to use a proposed marine terminal to transport Utah coal to Asia, calling such shipments public health and safety hazards. Backers argued the project would bring needed jobs …
23
06, 2016
Meeting with Antitrust Official Key Moment for Anthem-Cigna Merger
Anthem Inc. and Cigna Corp. are preparing for a showdown with senior Justice Department officials this week in their effort to persuade the government to allow the health insurers to combine, lest they wind up dueling in court over a …
24
06, 2016
California’s Last Nuke Plant Would Be Closed by 2025 Under Deal
California’s last nuclear power plant will close by 2025 under an accord announced this week, ending three decades of safety debates that helped fuel the national anti-nuclear power movement. The state’s largest utility, Pacific Gas & Electric Co., and environmental …
28
06, 2016
Narragansett Bay Insurance Names Hutchinson Assistant VP, Territory Manager
Narragansett Bay Insurance Co. has named Peter Hutchinson an assistant vice president and Rhode Island and Massachusetts territory manager. Hutchinson will be responsible for partnerships with NBIC’s agents and industry associations, profitable growth, and service delivery in Rhode Island and …
29
06, 2016
National Interstate Rejects Stock Bid from Great American Insurance
National Interstate Corp., Richfield, Ohio, has rejected a verbal proposal from Great American Insurance Co., a wholly-owned subsidiary of American Financial Group Inc., to pay $30.75 per share of common stock of the company for the outstanding shares of the …