Oakland, Calif.’s city attorney said Friday he will file a lawsuit claiming municipal bond insurers duped the city into buying bond insurance despite risks the guarantors faced to their triple-A ratings from insuring subprime mortgage-related securities. Oakland will file its …
Standard & Poor’s Ratings Services has announced that it is “taking no rating action on Allstate Corp. (NYSE:ALL; A+/Stable/A-1) or its subsidiaries following Allstate’s announcement that it had a pretax loss of $86 million for second-quarter 2008 compared with pretax …
Mike Dwyer, president, Sinclair-Dwyer and Co. recounted an auto-medical payments claim filed by a woman due to injuries sustained by her left breast. The insured — apparently endowed enough — got caught in her car door upon exiting. Making matters …
New Hampshire residents facing downed trees on their houses or in their yards from Thursday’s tornado could face some hefty bills. A typical homeowner’s insurance policy in New Hampshire covers only $1,000 for tree removal and $500 for any single …
Des Moines, Iowa-based EMC Insurance Group reported that losses from Midwest storms cost the company more than $23 million in the second quarter alone. By comparison, storm losses in the second quarter of 2007 totaled nearly $9.8 million. Company officials …
A fast-spreading fire burning near an entrance to Yosemite National Park near Midpines, Calif., forced the evacuations of 170 homes on Sunday and caused officials to cut power to the park. The fire grew from about 1.5 square miles (4 …
PMA Capital Corp. in Blue Bell, Pa., has acquired Webster Risk Services, a Connecticut-based provider of third party administration (TPA) services, from Webster Financial Corp. Under the terms of the transaction, PMA Capital paid $5.9 million in cash for Webster …
A British businessman won damages last week against an old friend who put libelous and unauthorised information about him on the social networking Web site Facebook. Mathew Firsht won 22,000 pounds ($43,767) in damages against his school friend Grant Raphael …
Australian investigators were focusing on the possibility that an oxygen cylinder could have exploded in mid-flight on the Qantas jumbo jet that made an emergency landing in the Philippines with a giant hole in its fuselage, officials said Sunday. Australia’s …
Imperial Sugar CEO John Sheptor said there may be “significant” penalties proposed when federal workplace safety regulators release their findings after investigating a dust explosion that killed 13 workers at a company sugar refinery in Georgia. With the investigation into …