International Insurance Brokers Ltd., headquartered in Tulsa, Okla., announced it has filed suit in the United States District Court for the Northern District of Oklahoma against TeamBank N.A., Team Financial Inc. and Mystic Capital Advisors Group LLC claiming damages for …
The St. Paul Travelers Companies Inc. has signed a definitive agreement to reacquire its trademark red umbrella, and change its name to The Travelers Companies Inc. After the closing of the transaction, the company will begin trading on the New …
The U.S. insurance industry should be paying greater attention to the run-off market, according to a study published by PricewaterhouseCoopers’ (PwC) Insurance Restructuring Group. The “US Discontinued Insurance Business Survey” noted that although the market has an estimated $150 billion …
NIP Programs in Woodbridge, N.J., reports that Kristine Lucke has joined the company as programs claims director. Lucke will be responsible for the program division’s claims strategy and will oversee the management of high exposure and high value claims. Prior …
A new company founded by members of the Google team is promising to replace what it says are “pricey and inflexible” insurance contracts that businesses now purchase to protect against lost revenue due to weather conditions with online contracts that …
The first trial for one of the several thousand lawsuits that Louisiana homeowners filed against their insurers in federal court after Hurricane Katrina began Feb. 12 with the jury selection and opening statements. In their lawsuit against Allstate Indemnity Co., …
It’s been a year since Rhode Island won a precedent-setting court victory against three former lead paint manufacturers, but the case has been in legal limbo since then as the companies have challenged the verdict and demanded a new trial. …
The Willis Research Network (WRN) “has joined forces with internationally renowned universities to harness the immense power of the NEC Earth Simulator in Yokohama, Japan to help insurers understand the frequency and severity of natural catastrophes in the face of …
A.M. Best Co. has assigned a financial strength rating (FSR) of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to Bermuda-based Ironshore Insurance Ltd. Concurrently, Best assigned an ICR of “bbb-” to Ironshore’s Cayman Islands holding company, Ironshore …
Standard & Poor’s Ratings Services announced that it has “revised its senior secured debt ratings on Atlantic & Western Re Ltd.’s Class A notes to ‘D’ from ‘BB’ and Class B notes to ‘D’ from ‘B’.” S&P also revised its …