Breaking newsNew York state releases final broker pay rulePosted on February 9, 2010 2:25 p.m. CENTRAL NEW YORK—The New York State Insurance Department released its final producer compensation disclosure regulation Tuesday. » Republicans cool to televised health care summitPosted on February 9, 2010 1:39 p.m. CENTRAL WASHINGTON—Top Republicans in the House of Representatives have warned that they might reject President Barack Obama’s invitation to participate in a televised health care summit later this month unless he immediately discards support for reform bills passed by the House and Senate. » Travelers names new leader of commercial insurancePosted on February 9, 2010 1:18 p.m. CENTRAL HARTFORD, Conn.—Travelers Cos. Inc. said Tuesday that William E. Cunningham has been promoted to executive vp of its business insurance segment effective March 1. » MetLife may pay AIG in stock, cash for ALICO unit: SourcePosted on February 9, 2010 12:45 p.m. CENTRAL NEW YORK (Reuters)—MetLife Inc. plans to pay American International Group Inc. in stock and cash for American Life Insurance Co., as the two sides negotiate what could be a roughly $15 billion deal, a source familiar with the matter said Tuesday. » W.R. Berkley reports higher net incomePosted on February 9, 2010 12:41 p.m. CENTRAL GREENWICH, Conn.—W.R. Berkley Corp. reported $309 million in net income for 2009, a nearly 10% increase compared with 2008. » Pat Ryan launches specialty groupPosted on February 9, 2010 10:58 a.m. CENTRAL CHICAGO—Patrick G. Ryan, founder and former executive chairman of Aon Corp., on Tuesday announced the launch of Ryan Specialty Group, a new Chicago-based holding company of managing general underwriters and managing general agencies. » AXIS reports profit increase for 2009Posted on February 9, 2010 10:32 a.m. CENTRAL PEMBROKE, Bermuda—AXIS Capital Holdings Ltd. reported net income of $461 million for 2009, an increase of 31.6% from the $350.5 million recorded in 2008. » Financial Services Authority CEO to step downPosted on February 9, 2010 9:57 a.m. CENTRAL LONDON—Hector Sants, the CEO of the U.K. Financial Services Authority, said Tuesday that he will step down this summer. » State Farm warned NHTSA on Toyota in 2007: OfficialPosted on February 9, 2010 9:45 a.m. CENTRAL BLOOMINGTON, Ill. (Reuters)—State Farm Insurance informed a U.S. government regulator of a worrying trend of vehicle-caused accidents involving Toyota Motor Corp. as far back as late 2007, an official at the company said. » Toyota sued in California by U.S. shareholdersPosted on February 9, 2010 9:30 a.m. CENTRAL LOS ANGELES (Reuters)—Toyota Motor Corp. faced its first U.S. class action lawsuits stemming from complaints of faulty brakes in its top-selling Prius hybrid car and from investors claiming they were misled about problems with unintended acceleration in a wide range of models. » Coventry reports higher profitsPosted on February 9, 2010 9:15 a.m. CENTRAL BETHESDA, Md. (Reuters)—Coventry Health Care Inc. reported a much better than expected quarterly profit on Tuesday, helped by improved performance in its Medicare and commercial businesses. » Nortel retirees welcome Ontario pension rescuePosted on February 8, 2010 4:45 p.m. CENTRAL TORONTO (Reuters)—Ontario pensioners of Nortel Networks Corp. said Monday they can rest easier after the provincial government pledged to provide funds that will help top up their modest payouts from the failed telecoms equipment giant. » Hartford swings to quarterly profitPosted on February 8, 2010 3:45 p.m. CENTRAL HARTFORD, Conn. (Reuters)—Hartford Financial Services Group posted a fourth-quarter profit, helped by better results in its life insurance and property/casualty insurance businesses. » HHS secretary wants Anthem to justify rate hikePosted on February 8, 2010 3:32 p.m. CENTRAL WASHINGTON—Health and Human Services Secretary Kathleen Sebelius on Monday asked the president of Anthem Blue Cross in California to justify an expected 39% rate hike. » Conn. power plant explosion covered by several insurersPosted on February 8, 2010 3:09 p.m. CENTRAL MIDDLETOWN, Conn.—The fatal Feb. 7 explosion and fire at a Connecticut power plant being constructed by Kleen Energy Systems L.L.C. is covered for property damage and business interruption losses under a policy on which several insurers participate, market sources said Monday. » Risk Retention Reporter founder Karen Cutts diesPosted on February 8, 2010 1:48 p.m. CENTRAL PASADENA, Calif.—Karen Cutts, founder, managing editor and publisher of the Risk Retention Reporter, died last week after a long battle with pancreatic cancer. » Obama calls for bipartisan summit on health carePosted on February 8, 2010 1:31 p.m. CENTRAL WASHINGTON—President Barack Obama says he wants to convene a half-day, televised bipartisan session at the White House later this month in an attempt to break the political stalemate on health care reform legislation. » AIG hires exec to oversee finance, riskPosted on February 8, 2010 9:30 a.m. CENTRAL NEW YORK (Reuters)—American International Group Inc. on Monday named a KeyCorp vice chairman and financial services veteran to a newly created post overseeing finance, risk and investments. » Goldman's payment demands on AIG probed: ReportPosted on February 8, 2010 11:00 a.m. CENTRAL NEW YORK (Reuters)—U.S. regulators are investigating whether the mortgage insurance market was improperly distressed in 2008 because of payment demands that Goldman Sachs Group Inc. and other banks made on American International Group Inc., The New York Times reported on Sunday. » Best affirms rating, upgrades outlook for CNAPosted on February 8, 2010 11:01 a.m. CENTRAL OLDWICK, N.J.—A.M. Best Co. Inc. on Monday upgraded its outlook of CNA Insurance Cos. and its members to stable from negative and affirmed its financial strength rating of A. » Lloyd's of London outlines three-year strategyPosted on February 8, 2010 10:22 a.m. CENTRAL LONDON—Lloyd’s of London said Monday that its strategy over the next three years is to maintain its market position while preparing for challenges from an evolving regulatory landscape. » CVS Caremark profit tops viewPosted on February 8, 2010 10:00 a.m. CENTRAL WOONSOCKET, R.I. (Reuters)—CVS Caremark Corp. posted a bigger-than-expected rise in quarterly profit Monday as it began to attract more business to its pharmacy benefits management unit. » Industry groups seek delay in Medicare payer rulesPosted on February 5, 2010 2:52 p.m. CENTRAL WASHINGTON—Two property/casualty insurance industry groups and a self-insurance group asked the U.S. government Friday to delay implementation of mandatory Medicare secondary payer reporting requirements. » Property/casualty rates fall 4% in January: MarketScoutPosted on February 5, 2010 2:31 p.m. CENTRAL U.S. commercial property/casualty insurance rates declined an average of 4% in January compared with those of a year earlier, MarketScout said Friday. » N.Y. to publish final producer disclosure rule Feb. 10: IIABNYPosted on February 5, 2010 1:32 p.m. CENTRAL NEW YORK—The New York State Insurance Department will publish its final producer compensation disclosure regulation in the New York State Register on Feb. 10, according to the Independent Insurance Agents & Brokers of New York Inc. » |
