The Association of British Insurers has criticized government proposals concerning payments to claimants who suffer from mesothelioma, a lung disease caused by the inhalation of asbestos fibers. The legislation is part of a Compensation Bill aimed at mitigating the effect …
Fitch Ratings has affirmed the “AA” Insurer Financial Strength (IFS) rating of Bermuda-based Partner Reinsurance Company as well as the various ratings of Partner Reinsurance’s parent company PartnerRe Ltd. These include the “AA-” Issuer Default Rating (IDR), and the “A” …
The Florida Department of Financial Services has released its annual “Top-10 Fraud List,” summarizing 10 of the costliest or boldest securities, finance and insurance fraud scams investigated by the DFS Division of Insurance Fraud and resulting in convictions in the …
ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, recently announced the launch of its healthcare professional liability product for group and individual physicians in the Ohio and Michigan markets. The product provides professional liability coverage …
Two more self-insured workers’ compensation groups in New York will close over the next several months, bringing the year’s tally to five, as officials continue to enforce stricter financial standards. The Retail & Wholesale Industry Worker Compensation Self-Insurance Trust, with …
A recent EPIC-MRA poll of business owners, operators and managers across Michigan shows “lack of time” as the top reason companies are not teaching their employees about workplace safety. This surprising data comes forward at a time when other studies …
A workers compensation insurer does not have a claim against a bankrupt business for unpaid premiums under bankruptcy law, according to the U.S. Supreme Court in a 6-3 decision that insurers are warning could disrupt the insurance marketplace unless Congress …
Although property casualty insurance capacity still exists in some areas in the U.S.’s east coast, the rate at which it is vanishing, especially in coastal areas, as well as the steep prices being offered for available capacity, have industry executives …
A theft of computer equipment containing personal information about 970,000 individuals was recently confirmed by American International Group Inc., (AIG). The theft took place on March 31st at one of AIG’s Medical Excess L.L.C. unit offices in the Midwest. Chris …
In a step that is being applauded by insurance brokers, Reps. Ginny Brown-Waite, R-FL, and Dennis Moore, D-KS, have introduced federal legislation requiring states to establish a uniform system of regulation for the surplus lines industry. The new bill is …