Maryland must comply with the federal Real ID Act, Transportation Secretary nominee John D. Porcari told the Judiciary Committee on Tuesday. The Real ID Act mandates that states verify documents proving an applicant is a U.S. citizen or has some …
According to a new report the Economist Intelligence Unit (EIU), sponsored by ACE, “nearly 30 percent of senior executives and risk professionals surveyed said their companies had been forced to cancel existing investments in emerging markets because of concerns about …
Swiss-based reinsurer Converium has estimated that its gross claims for winter storm Kyrill will be around €25 to €35 million ($32.5 to $46.5 million). Converium said its estimates were “based on an assumed industry loss of roughly €5-7 billion [$6.5-$9.1 …
A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to Taiwan’s South China Insurance Company Limited with a stable outlook. “The ratings reflect South China’s consistent overall operating results, strong …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb+” and all debt ratings of Australia’s QBE Insurance Group Limited, and the financial strength ratings (FSR) of “A” (Excellent) and the ICRs of “a+” of UK-based QBE Insurance …
The Citizens Property Insurance Corporation board of governors voted unanimously to name Sharon Binnun senior vice president of finance and accounting and chief financial officer. Binnun was deputy commissioner with the Florida Office of Insurance Regulation for the past two …
A Pennsylvania judge ruled that Wyeth will not pay punitive damages to a woman who alleged that the pharmaceutical giant’s menopause drug was responsible for her breast cancer. A jury on Monday awarded $1.5 million (euro1.16 million) in compensatory damages …
The Kentucky Office of Insurance has asked a judge to reconsider his decision to allow a Christian-only health care plan to continue operating in the state. Other states recognize Medi-Share as insurance and subject it to stricter regulations, attorneys for …
In a forceful rebuke to insurance companies, Gov. Charlie Crist cajoled fellow Cabinet members into approving a rule Tuesday that will prevent property insurers from canceling Florida policies for much of the rest of this year. The emergency rule will …
In response to a recent pending settlement involving State Farm Insurance, certain victims of Hurricane Katrina and the State of Mississippi, USAA or United Services Automobile Association, came forward to define what it says is a difference between it and …