Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on nonlife reinsurers IPCRe Ltd. and IPCRe Europe Ltd. (collectively referred to as IPCRe) to “A-‘ from “A.” S&P also lowered its “BBB+” counterparty credit rating …
Swiss Re held its 143rd Annual General Meeting at the Hallenstadion in Zurich today, April 20. A total of 1,144 shareholders attended the event, representing 43.49 percent of Swiss Re’s voting share capital. They accepted all of the motions brought …
North Dakota’s workers compensation director was put on leave Wednesday after criminal charges were filed against him and the agency’s top fraud investigator involving questionable spending on gifts and possibly illegal use of driver’s license photos. Sandy Blunt, chief executive …
Ten lawmakers want to drain off some of the massive reservoirs holding New York City drinking water, claiming lower water levels will help prevent flooding in riverside communities. House lawmakers from Pennsylvania, New Jersey, and upstate New York signed on …
A ruling by a panel of the 1st Circuit Court of Appeals means the Aroostook Band of Micmacs is subject to state employment discrimination laws after all. In a divided ruling, the three-judge panel overturned a federal magistrate judge’s conclusion …
General Motors Corp. vehicles had the highest and lowest driver death rates from 2002 through 2005, according to a study being released Thursday by the insurance industry. Two-door, two-wheel drive Chevrolet Blazers built from 2001 to 2004 had the highest …
A hospital network tired of having its bills challenged by HMOs has decided to play rough. Its members are suing two of the region’s largest health insurers, claiming each tried to weasel out of paying for millions of dollars in …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Kazakhstan-based Eurasia Insurance Co. to “B” from “B+” to equalize with the long-term rating on its new parent, JSC Eurasian Bank. The outlook …
Louisiana’s “insurer of last resort” has hired an insurance industry veteran as its new CEO, and he’ll face a raft of problems when he takes over next week. J. John Wortman, who’s been in the business since the early 1960s, …
A recent changes in Ohio’s Graduated Driver License law, will allow a rate reduction for 16-year-old drivers. The reduction will be made available to new policyholders beginning June 1, 2007, according to Columbus-Ohio-based Grange Mutual Casualty Group. The new rate …