Personal Lines
Bank of America to Pay $228M to Settle Forced-Place Insurance Claims
Bank of America Corp. agreed to pay $228 million to settle claims the bank overcharged for insurance homeowners were forced to accept when their regular policies lapsed. The amount was disclosed in a ...
AIG Challenges New York Regulator’s Authority Over Sales to Multinationals
American International Group Inc. sued to block New York's top financial regulator, Benjamin Lawsky, from fining it over marketing insurance overseas without a state license, claiming it would be ...
Hartford’s Outlook Now Positive, A.M. Best Says
Rating agency A.M. Best changed the outlook associated with the "A" financial strength rating of the members of the Hartford Insurance Pool to positive from stable Thursday, citing a reduced risk ...
Alibaba’s Blueprint for E-Commerce Empire Includes Insurance, Mutual Funds
Alibaba, the world's biggest e-commerce company, changed how China shops. Now the man driving its blockbuster U.S. stock sale wants to transform the rest of the country's services industry, adding ...
Forecast Models Line Up on El Niño, Possibly Cutting Down Atlantic Hurricanes: WSI
The prospect of an El Niño event is now looking likely, a meteorologist told insurance professionals last month, pointing to computer models signaling at least a weak event coming in late spring or ...
Hard-Hit Millennials Miss Out on Recovery Enjoyed by Older Americans
The damage inflicted on U.S. households by the collapse of the housing market and recession wasn't evenly distributed. Just ask Jason and Jessica Alinen. The couple, who lives near Seattle, declared ...
Small Probability of Larger Event Following Friday’s Calif. Quake
In an announcement detailing the specifics of a 5.1 magnitude earthquake that struck Southern California on Friday, AIR Worldwide said there is a 5 percent probability that the earthquake could be a ...5.1 Magnitude Southern Calif. Quake Forced Some Weekend Evacuations
A moderate earthquake that rattled a swath of Southern California forced several dozen people in one community out of their homes after firefighters discovered foundation problems that made the ...