Industry News
AIG Will Fork Over $35M to Settle New York Licensing Issue
Insurer American International Group will pay a $35 million penalty for violations related to former subsidiaries that solicited insurance business in New York without a license, the New York State ...
Fairfax’s Watsa Says Deflation ‘In the Air’
Prem Watsa is betting on U.S. government debt at his Fairfax Financial Holdings Ltd. to guard against deflation amid stagnation in European economies and slumps in commodity prices and Chinese real ...
After several years in which much of P&C was focused on restoring rate adequacy and profitability, the market is finally...
PCI’s Gordon: Congressional Leaders Pledge Dec. TRIA Renewal
An executive with the Property Casualty Insurers Association of America said Congressional leaders have offered assurances that they'll reauthorize a version of the Terrorism Risk Insurance Act, or ...
Africa is Luring Global Insurance Companies
Global insurance companies are flocking to Africa, where millions of people have started earning enough to afford business cover and protection for their families, said private equity firm LeapFrog ...
PCI Conference Report: Gen Re CEO Say Hedge Funds Come and Go
"Twisted financial theories" and rating agency support are keeping the reinsurance space attractive to third-party investors, a reinsurance executive asserted at an industry conference this week. ...
Hamilton USA Names Koehler President, Middle Market & Programs
Hamilton USA, the New Jersey-based insurance operations of Hamilton Insurance Group, has appointed Rich Koehler as president of middle market and programs. Koehler will report to CEO Conan Ward and ...
A.M. Best Affirms Greenlight Re at A; Upgrades Ireland Unit
A.M. Best announced Thursday that the rating agency has upgraded the financial strength rating (FSR) of Greenlight Reinsurance Ireland, Limited (Ireland) to "A "(excellent) from "A-"(excellent). The ...
WCRI Study Looks at California’s Workers Comp Reforms
When California Senate Bill 863 took effect Jan. 1, 2013, it created several fee schedule changes in the California workers compensation system. The Workers Compensation Research Institute released a ...