Negotiations over a compensation fund for victims of the Minnesota Interstate 35W bridge collapse have begun. A House-Senate conference committee conducted its first meeting without resolving any major differences between their proposals. The $25 million Senate bill would offer the …
A former state senator has been confirmed to be a judge at the Department of Industrial Accidents, despite questions about her qualifications and concern about a political account she plans to maintain on the bench. The Governor’s Council voted 6-1 …
Fitch Ratings has downgraded the insurer financial strength (IFS) to ‘BB’ from ‘A’ for the following ratings on Security Capital Assurance Ltd. (SCA) and its financial guaranty insurance subsidiaries: XL Capital Assurance Inc. (XLCA) XL Capital Assurance (U.K.) Ltd. (XLCA-UK) …
Standard & Poor’s Ratings Services latest report on the global reinsurance industry – “2008 Reinsurance Renewals: Underwriting Discipline Takes Center Stage As Price Adequacy Declines Further-” concludes: The pricing cycle is at a critical point.” S&P said “that while the …
A former employee of the University of Tennessee is accused of setting two fires at a Knoxville dormitory. The university says Amy Ellis, who was a housekeeper at UT’s Humes Hall, has been charged with aggravated arson. Ellis was hired …
A landmark amusement park in Rye, New York plans to step up safety messages for visitors after three people died on its rides within three years. Staffers will greet visitors at Playland’s entrance with brochures packed with safety information, ranging …
A Lewiston, Maine neurosurgeon has been found liable for a surgery that left a man in a wheelchair before the doctor came to Maine. Dr. Victor T. Ho agreed to pay $1.9 million under a settlement and won’t appeal the …
American International Group Inc., the world’s largest insurer, has filed a complaint in New York Supreme Court against former Chief Executive Maurice “Hank” Greenberg and six other former directors and officers, accusing them of breaching their fiduciary duty. The legal …
Explosive eruptions and noxious gas emissions at Kilauea Volcano in Hawaii this week have prompted scientists to work around the clock to understand what will happen next and how to keep the public out of harm’s way. Scientists are monitoring …
A.M. Best Co. has withdrawn the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” and assigned a category NR-5 (Not Formally Followed) to Farmers Home Fire Insurance Company (FHFIC). Best said these “rating actions reflect the …