Breaking newsU.S. life reinsurance segment stable: BestPosted on November 20, 2009 3:30 p.m. CENTRAL OLDWICK, N.J.—The U.S. life reinsurance segment is stable and reflects life reinsurers’ ability to effectively manage through the recent financial crisis, A.M. Best Co. Inc. says in a special report. » Moderate Democrat boosts Senate health care billPosted on November 20, 2009 2:00 p.m. CENTRAL WASHINGTON (Reuters)—One of three wavering U.S. Senate Democrats said Friday that he would vote to start the chamber's health care debate, bolstering the chances for a broad overhaul one day before its first crucial test. » Ohio attorney general sues rating agenciesPosted on November 20, 2009 9:21 a.m. CENTRAL COLUMBUS, Ohio—Ohio Attorney General Richard Cordray has sued three national rating agencies, alleging they offered inflated and misleading ratings of mortgage-backed securities and damaged five public employee pension funds that invested in the securities. » N.Y. can recognize other states' same-sex marriages: CourtPosted on November 20, 2009 1:03 p.m. CENTRAL ALBANY, N.Y.—New York’s highest court has upheld the state’s recognition of same-sex marriages performed in other states. » S&P upgrades Crum & Forster rating to A-Posted on November 20, 2009 12:58 p.m. CENTRAL NEW YORK—Standard & Poor’s Corp. on Friday raised the financial strength rating of Crum & Forster Insurance Co. and its related entities to A- from BBB+. » OSHA outlines H1N1 inspection proceduresPosted on November 20, 2009 12:51 p.m. CENTRAL WASHINGTON—The Occupational Safety and Health Administration on Friday issued a compliance directive to ensure uniform inspection procedures to identify and minimize or eliminate high- to very high-risk occupational exposures to H1N1 flu among front-line health care and emergency medical... » Swiss insurers call for simpler solvency regulationPosted on November 20, 2009 10:15 a.m. CENTRAL ZURICH (Reuters)—Switzerland's insurers need local regulation to be harmonized with international standards and improved access to European Union markets to boost growth, executives said on Friday. » Munich Re's ERGO group to rebrand, merge unitsPosted on November 20, 2009 10:04 a.m. CENTRAL DUSSELDORF, Germany—ERGO Insurance Group A.G., the group that makes up most of Munich Reinsurance Co.’s primary insurance operations, is rebranding its operations in Germany and merging some insurers. » London P&I Club boosts insurance rates at least 5%Posted on November 20, 2009 10:00 a.m. CENTRAL LONDON—The London P&I Club said Friday that it will impose a general premium increase of 5% for the next policy year and a 20% increase in one claim-riddled class. » Aon Risk Services President Devine leaving brokeragePosted on November 20, 2009 9:20 a.m. CENTRAL CHICAGO—Aon Risk Services President Ted T. Devine is leaving Aon Corp. to launch a charitable organization, the Chicago-based brokerage said in a statement. » House votes to boost Medicare pay to doctorsPosted on November 19, 2009 6:00 a.m. CENTRAL WASHINGTON (Reuters)—The U.S. House of Representatives voted Thursday to boost Medicare payments to physicians in a move that could help shore up support from doctors for a sweeping Democratic-backed health care overhaul. » Companies drop pensions, pay execs $350M: GAOPosted on November 19, 2009 2:15 p.m. CENTRAL WASHINGTON and BOSTON (Reuters)—Ten large U.S. companies paid senior executives a total of $350 million in the few years prior to dropping traditional pension plans for employees, a Congressional watchdog said Thursday. » Ironshore enters aviation sector as market hardensPosted on November 19, 2009 1:56 p.m. CENTRAL HAMILTON, Bermuda—Ironshore Specialty Co. is entering the aviation insurance market as brokers report firming rates for several lines of aviation coverage. » Senate eyes first health care votePosted on November 19, 2009 1:30 p.m. CENTRAL WASHINGTON (Reuters)—U.S. Senate Democrats geared up for a lengthy battle over a new health care reform plan on Thursday as Republicans condemned the bill's cost and taxes ahead of the first key vote this weekend. » Labor OKs Microsoft captive use to fund long-term disabilityPosted on November 19, 2009 1:11 p.m. CENTRAL WASHINGTON—The Labor Department gave Microsoft Corp. final authorization Thursday to fund benefit risks through the Vermont branch of its Bermuda-based captive insurance company. » Geithner, under fire, defends AIG bailoutPosted on November 19, 2009 1:00 p.m. CENTRAL WASHINGTON (Reuters)—U.S. Treasury Secretary Timothy Geithner defended on Thursday the costly bailout of insurer American International Group Inc. and urged swift regulatory reform to safeguard the economy from the failure of big financial firms. » Willis deal defers Gras Savoye purchasePosted on November 19, 2009 11:46 a.m. CENTRAL LONDON—Willis Group Holdings Ltd. has signed a definitive agreement with a private equity fund to sell part of its stake in Gras Savoye & Cie. for $160 million, though the London-based brokerage will retain an option to buy outright its French partner. » Labor Department kills Bush investment-advice rulePosted on November 19, 2009 11:42 a.m. CENTRAL WASHINGTON—The Labor Department has officially killed a Bush administration rule that would have cleared the way for mutual fund companies to offer direct one-on-one investment advice through their affiliates to defined contribution plan participants. » Microinsurance offers benefits to insurers: Lloyd'sPosted on November 19, 2009 11:12 a.m. CENTRAL LONDON—Commercial insurers can capitalize on new opportunities to grow their businesses by participating in the microinsurance market, a report from Lloyd’s of London concludes. » Chaucer reports premium growth, warns on political riskPosted on November 19, 2009 10:59 a.m. CENTRAL LONDON—Chaucer Holdings P.L.C. on Thursday said its gross written premiums rose 23.9% to £650.3 million ($1.09 billion) for the first nine months of 2009, but warned that problems in its political risk business will dampen its overall results. » Judge in Marsh case dismisses charges against threePosted on November 19, 2009 9:06 a.m. CENTRAL NEW YORK—A New York judge has dismissed criminal charges against two former Marsh Inc. executives accused in connection with a bid-rigging and price-fixing scheme at the broker. » U.S. government liable for some Katrina damage: JudgePosted on November 19, 2009 7:41 a.m. CENTRAL HOUSTON (Reuters)—A U.S. judge ruled Wednesday the U.S. Army Corps of Engineers was negligent in maintaining a key navigational channel in New Orleans and was liable for some damage caused by massive flooding from Hurricane Katrina in 2005. » Senate health care bill unveiled, hits Obama cost targetPosted on November 18, 2009 7:30 p.m. CENTRAL WASHINGTON (Reuters)—U.S. Senate Democratic leader Harry Reid, D-Nev., released a health care reform plan on Wednesday that budget analysts said would extend coverage to tens of millions of the uninsured and reduce the budget deficit over 10 years. » Aetna to lay off 625 now, equal number in early 2010Posted on November 18, 2009 4:38 p.m. CENTRAL HARTFORD, Conn.—Health insurance giant Aetna Inc. said Wednesday it will shed 625 jobs due to economic conditions. » Senate health care reform cost within Obama's targetPosted on November 18, 2009 4:30 p.m. CENTRAL WASHINGTON (Reuters)—A sweeping U.S. Senate health care overhaul, to be unveiled later Wednesday, would cost $849 billion over 10 years and reduce the deficit by $127 billion during the same period, a senior Senate aide said. » |
