Moody’s Investors Service said it was affirming the Baa2 senior unsecured debt rating and the Prime-2 short-term debt rating for Marsh & McLennan Companies Inc., the nation’s largest insurance brokerage. The rating agency also said its outlook for the New …
The two parties representing consumers have recommended that Massachusetts auto insurance rates be slashed next year — as much as 18 percent. The State Rating Bureau, a unit of the Division of Insurance, is calling for a statewide average decrease …
Independent reinsurance and risk intermediary Benfield has just released its latest European Quarterly Report, entitled “Hoping for the Best,” covering the first half results of European reinsurance groups. The report notes that, “low natural catastrophe losses and strong mid-year renewals …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and assigned the issuer credit rating (ICR) of “a-” to Macao-based Luen Fung Hang Insurance Company Limited (LFH) with a stable outlook. “The ratings reflect LFH’s consistent operating …
The U.S. House of Representatives passed legislation that would apply single-state regulation and uniform standards to the nonadmitted insurance and reinsurance marketplace. H.R. 5637, The Non-Admitted and Reinsurance Reform Act of 2006, was approved Wednesday evening by a vote of …
Now that the criminal case stemming from The Station nightclub fire in Rhode Island is ending, the families of some of the 100 people killed in the blaze are looking to a massive civil case for accountability. The federal lawsuit, …
A company that contracts with State Farm Insurance Co. is suing two former employees who are helping an attorney build cases against the insurer for denying claims after Hurricane Katrina. E.A. Renfroe & Co., a Birmingham, Ala.-based insurance adjusting firm, …
The U.S. Supreme Court said this week it will consider several business cases during its upcoming term, including a case that could make it easier for consumers to hold insurers, banks and other businesses liable for not notifying them when …
The Securities and Exchange Commission charged three former RenaissanceRe executives with securities fraud charges for their alleged involvement in a finite reinsurance scam that the SEC claims the executives concocted to smooth RenRe’s earnings. James N. Stanard and Martin J. …
Insurers, agents and business groups called on Congress to create a permanent solution safeguarding the economy against future terrorist attacks at congressional hearing today, “Protecting Americans from Catastrophic Terrorism Risk,” held jointly by the House Committee on Financial Services Subcommittee …