A Poughkeepsie, N.Y. workers’ compensation insurance company paid a $96,110 penalty to settle charges it violated licensing provisions of New York State Insurance Law, Insurance Superintendent Eric Dinallo said. Compensation Risk Managers LLC (CRM) and its chief executive officer, Daniel …
The District of Columbia is planning to spend $12 million over five years for safety enhancements at more than five dozen intersections considered hazardous for pedestrians. Plans call for more clearly marked crosswalks and changes to signal timing. The D.C. …
China’s government says companies suffered 67 billion yuan (US$9.5 billion; €7 billion) in direct losses from last week’s earthquake. The announcement by a deputy industry minister, Xi Guohua, came during a news conference Monday. The May 12 quake in central …
Risk Management Solutions has launched a new service to systematically assess and enhance the quality of exposure data within the insurance industry. “The ExposureRefine™ service, believed to provide the most comprehensive assessment of portfolio exposure data quality today, will help …
Connecticut officials say they’ve reached a $750,000 settlement for a mudslide in Montville at a construction site in October 2005. The attorney general and the Department of Environmental Protection have reached the settlement with the developer and builders of the …
Minnesota Gov. Tim Pawlenty signed a bill on May 14th that requires insurance companies and agents to notify homeowners annually if their insurance policies do not include flood coverage. The required notice will say the homeowners have the right to …
The credit crunch in the U.S. financial markets that boiled over after the subprime mortgage meltdown may affect the ability of insurers and reinsurers that cover coastal areas to raise cash for claims if a major hurricane were to strike …
North Carolina officials arrested a Winterville, N.C. man and charged him with four counts each of insurance fraud, identity theft and obtaining property by false pretense, according to Insurance Commissioner Jim Long. An investigator with the Department of Insurance arrested …
The West Virginia Office of Miners’ Health, Safety and Training is investigating an electrocution at Aracoma Coal’s Alma No. 1 mine, the same Logan County mine where two miners died in a 2006 belt line fire. Agency spokeswoman Jama Jarrett …
Standard & Poor’s Ratings Services has assigned its ‘A’ junior subordinated debt ratings to American International Group Inc.’s €750 million ($1.163 billion) of Series A-7 and £900 million ($1.752 billion) Series A-8 junior subordinated debentures. S&P also placed the ratings …