Breaking newsHartford sues Arch over employee defectionsPosted on July 2, 2009 4:58 p.m. CST NEW YORK—The Hartford Financial Services Group Inc. filed a lawsuit Thursday against Arch Insurance Group Inc. and three former employees of its Hartford Financial Products division, charging Arch has raided its employees and attempted to destroy its financial products business. » Insurers' response to climate change analyzedPosted on July 2, 2009 4:07 p.m. CST New research by the Geneva Assn. analyzes how insurance companies are responding to climate change risk, what they could do in the future and in what situations they may need to partner with governments to successfully mitigate those risks. » MySpace not liable for assaults of teens: CourtPosted on July 2, 2009 2:50 p.m. CST LOS ANGELES—The Communications Decency Act protects MySpace Inc. from liability in cases where a minor is sexually assaulted by an adult he or she met on MySpace’s Web site, a California appeals court ruled. » Brit Insurance names COOPosted on July 2, 2009 2:23 p.m. CST LONDON—Brit Insurance Holdings P.L.C. has named Malcolm Beane as its chief operations officer, effective Sept. 21. » Catlin names chief underwriter for continental EuropePosted on July 2, 2009 2:19 p.m. CST HAMILTON, Bemuda—Catlin Group Ltd. on Thursday named Heinz-Walter Haas as chief underwriting officer for its Continental Europe division. » Senate HELP Committee details employer health plan mandatePosted on July 2, 2009 2:14 p.m. CST WASHINGTON—All employers except small firms either would have to offer health insurance coverage to employees or be assessed a stiff penalty under a revamped health care reform bill put together by Democratic leaders of the Senate Health, Education, Labor and Pensions Committee. » Brooks named acting New York insurance commissionerPosted on July 2, 2009 1:30 p.m. CST NEW YORK—Kermitt Brooks, first deputy superintendent of the New York State Insurance Department, will take over as acting head of the department after the July 3 departure of Superintendent Eric Dinallo, a spokeswoman for New York Gov. David Paterson said. » France pushes tougher financial regulationPosted on July 2, 2009 12:00 p.m. CST PARIS (Reuters)—France said on Thursday it will not allow draft European Union rules regulating hedge funds to pass unless they are toughened up, putting it at odds with the United Kingdom, which has been trying to dilute them. » Farmers completes purchase of AIG personal auto groupPosted on July 2, 2009 12:08 p.m. CST LOS ANGELES—Zurich Financial Services Group’s Farmers Group Inc. unit has completed its acquisition of American International Group Inc.’s personal automobile insurance business, Farmers announced Wednesday. » New Jersey insurance head Goldman joining law firmPosted on July 2, 2009 12:04 p.m. CST TRENTON, N.J.—New Jersey Commissioner of Banking and Insurance Steven M. Goldman has resigned effective July 15 to join a law firm. » Pension funds to lead Bank of America investor lawsuitPosted on July 2, 2009 11:45 a.m. CST NEW YORK (Reuters)—A group of five public pension funds, including state funds in Ohio and Texas, have won the right to lead investor class action lawsuits against Bank of America Corp. over its acquisition of Merrill Lynch & Co. » Philadelphia settles claim by white firefightersPosted on July 2, 2009 11:00 a.m. CST PHILADELPHIA (Reuters)—Philadelphia paid $275,000 to settle a suit brought by five white firefighters who claimed they were the victims of racial discrimination in a promotion exam, documents released by the city Wednesday showed. » Flagstone makes offer for IPCPosted on July 1, 2009 6:44 p.m. CST HAMILTON, Bermuda—Another suitor for IPC Holdings Ltd. emerged Wednesday as Flagstone Reinsurance Holdings Ltd. made an offer for its Bermuda rival. » California firm pays $2M to settle N.Y. kickback probePosted on July 1, 2009 4:00 p.m. CST NEW YORK (Reuters)—A California pension fund adviser has settled its role in a probe by New York Attorney General Andrew Cuomo into alleged kickbacks involving public pension funds. » Aon appoints Peter Lieb as general counselPosted on July 1, 2009 3:48 p.m. CST CHICAGO—Peter Lieb has been appointed as executive vp and general counsel of Aon Corp. and will join the Chicago-based brokerage in mid-July, Aon said Wednesday. » Obama renews call for public health plan optionPosted on July 1, 2009 3:21 p.m. CST ANNANDALE, Va.—President Barack Obama on Wednesday continued his pitch for federal lawmakers to include a public health plan option as part of sweeping health care reform legislation. » Reinsurance markets stabilizing at midyear: ReportsPosted on July 1, 2009 2:32 p.m. CST While there have been rate increases for the June 1 and July 1 reinsurance renewals, the reinsurance market is behaving in a more orderly fashion than many anticipated, said Willis Re in a renewals report issued Wednesday. » AIG shares tumble after 1-for-20 reverse splitPosted on July 1, 2009 2:00 p.m. CST NEW YORK (Reuters)—American International Group Inc. shares tumbled nearly 20% on Wednesday following a 1-for-20 reverse stock split by the troubled insurer. » Starr Indemnity names three executivesPosted on July 1, 2009 1:39 p.m. CST NEW YORK—Starr Indemnity & Liability Co. made several management appointments Wednesday, including two with ties to AIU Holdings Inc. » Guy Carpenter names Henry Keeling head of international operationsPosted on July 1, 2009 10:50 a.m. CST LONDON—Guy Carpenter & Co. L.L.C. on Wednesday named Henry Keeling as president and chief executive officer of its international operations unit. » Wal-Mart endorses employer health coverage mandatePosted on July 1, 2009 7:00 a.m. CST BENTONVILLE, Ark. (Reuters)—Wal-Mart Stores Inc., the world’s largest retailer, said Tuesday that it supports President Barack Obama’s push to require large employers to offer health insurance to workers. » Bermuda market could take years to recover losses: SurveyPosted on June 30, 2009 5:34 p.m. CST It could take several years for Bermuda-based insurers and reinsurers to recover from the record investment losses suffered in 2008, an industry report said Tuesday. » Employers Direct to withdraw from California comp marketPosted on June 30, 2009 4:16 p.m. CST AGOURA HILLS, Calif.—Employers Direct Insurance Co. will stop writing new and renewal workers compensation business in California on Aug. 1, the company said Tuesday. » Yemeni carrier barred from servicing E.U.-based jetsPosted on June 30, 2009 3:00 p.m. CST PARIS (Reuters)—The Yemeni carrier whose plane crashed off the Indian Ocean archipelago of Comoros on Tuesday had been banned, for now, from servicing European Union-based jets after failing audit inspections, a European Union agency said. » AIG gets new directors at subdued annual meetingPosted on June 30, 2009 11:00 a.m. CST NEW YORK (Reuters)—American International Group Inc. got a new slate of government-backed directors at a subdued annual meeting on Tuesday, effectively revamping its board after the insurer's $180 billion taxpayer bailout. » |
