It took only four hours for a Louisiana grand jury to charge the owners of St. Rita’s Nursing home – where 35 people died in post-Hurricane Katrina flooding – on charges of negligent homicide and cruelty to the infirm. The …
As we approach the one-year anniversary of Hurricane Rita’s visit to Texas, residents along the Gulf Coast of Texas can and have learned a lot about the devastating effects of a hurricane, an insurance industry spokeswoman said. In Texas, Rita …
A bulletin on the Lloyd’s Website (www.lloyds.com) gives highlights from a recent conference, held at the Reinsurance Rendezvous in Monte Carlo, on the continuing development and “convergence of traditional reinsurance solutions and alternative capital market solutions.” Lloyd’s explained that the …
Fitch Ratings has assigned an ”AA+” insurer financial strength (IFS) rating to AIG MEMSA Insurance Company with a stable outlook. “Fitch’s rating reflects explicit support in the form of an unconditional and irrevocable insurance obligation guarantee between AIG MEMSA and …
About three-quarters of the 21 agents writing Connecticut coastal business say homeowners insurance markets are either “worse” (43 percent) or “much worse” (33 percent) compared to one year ago. Despite restrictions in the marketplace, agents say that few homeowners are …
Relatives of the 100 people killed in a 2003 Warwick, Rhode Island nightclub fire sparked by a rock band’s pyrotechnics reacted with fury Wednesday to news that the club owners would plead no contest to involuntary manslaughter charges, and that …
Four former senior executives of Berkshire Hathaway’s General Re Corp. and a former senior executive of American International Group Inc. were indicted Wednesday on charges they participated in a scheme to manipulate AIG’s financial statements, prosecutors said. The indictment alleges …
Don Bailey has been named chief executive officer of Willis North America. Bailey, currently Willis North America’s chief operating officer, succeeds Mario P. Vitale, who is joining Zurich as CEO of its Global Corporate North American operations. Concurrent with his …
California Attorney General Bill Lockyer has filed a lawsuit against leading U.S. and Japanese auto manufacturers, alleging their vehicles’ emissions have contributed significantly to global warming, harmed the resources, infrastructure and environmental health of California, and cost the state millions …
Suspicious fires involving LeFlore County (Okla.) Commissioner Carroll Rogers have led to a criminal investigation, according to a probable cause affidavit. The FBI, the Oklahoma State Bureau of Investigation and the state fire marshal’s office, searched his home in Spiro …