The nation’s insurance regulators are again telling policyholders of American International Group (AIG) that the insurance company is able to meet its obligations to them despite ongoing controversy surrounding the parent company. “In uncertain times, making correctly informed financial decisions …
The U.S. Food and Drug Administration is expanding, for the second time, its nationwide alert to consumers about tainted weight loss products containing undeclared, active pharmaceutical ingredients. The FDA has identified additional weight loss products (Herbal Xenicol, Slimbionic, and Xsvelten) …
A Staten Island man stricken with polio has won a multimillion dollar lawsuit against a drug maker, claiming he contracted polio 30 years ago while changing his daughter’s diaper. Dominick Tenuto was awarded $22.5 million on Friday, believed to be …
A Frostburg man is accused of setting his home on fire in a bid to collect insurance payments. The Maryland State Fire Marshal’s Office says 40-year-old Bruce Opel was arrested Friday. The fire occurred last April at a home owned …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Bermuda-based ACE Bermuda Insurance Ltd. and ACE Tempest Reinsurance Ltd. Best also affirmed the FSRs of ‘A+’ (Superior) and …
An El Dorado, Missouri man who claimed someone burned his three Stockton businesses because he’s gay has been charged with planning their torching himself. Cedar County authorities have charged 38-year-old Dan Thornton with second degree arson and theft. They already …
A Cedar Rapids corn milling company is suing a unit of insurance giant AIG and another company, accusing them of acting in bad faith for refusing to pay flood insurance claims. Penford Products Co. is one of many eastern Iowa …
An AIG unit and Countrywide Financial Corp., now part of Bank of America Corp., have sued each other, alleging breach of contract, in a dispute over insurance losses for subprime mortgage loans now in default. American International Group Inc.’s United …
A 61-year-old Bloomfield Hills, Michigan man has sued his former employer, claiming he was fired from a $75,000-a-year salesman’s job because of his waistline. But the employer says Patrick J. Ronayne was let go because of his performance, not his …
Responding to a whistleblower’s allegation of “massive Medi-Cal fraud and kickbacks,” California Attorney General Edmund G. Brown Jr. joined legal action against seven private laboratories to recover hundreds of millions of dollars in illegal overcharges to the state’s medical program …