Industry News
New York Grabs ‘Shaky’ Lead Over London As Top Financial Center
New York replaced London as the world's leading financial center for the first time, after the City was rocked by a series of scandals and questions over the U.K.'s place in the European Union. New ...
A.M. Best Downgrades Public Service, Affiliates Pending Re for Adverse Development
A.M. Best has downgraded the financial strength rating of Public Service Insurance Co. and its affiliates, Paramount Insurance Co. and Western Select Insurance Co., to "B+" (Good) from "B++" (Good) ...
As Farmers Sign Up for 2014, Crop Insurance Reformers Fume
U.S. farmers last week finalized their crop insurance plans for spring planting with critics of the government-subsidized program saying insurers are set up for a bonanza after passage of the new ...
Panama Canal Expansion Consortium Sign Deal to End Dispute
A construction industry consortium led by Spain's Sacyr said in a statement on Friday that it had signed a deal late on Thursday to complete work on the multibillion-dollar project to widen the ...Former Blackrock Exec Fisher is AIG Director Nominee
American International Group Inc. announced on Thursday that a new director nominee, Peter R. Fisher, will stand for election with the 13 current members of the AIG board at the annual meeting of ...
Emerging Risks Pose Serious Challenges to Marine Industry: Allianz
An increasingly difficult operating climate for ship operators has forced a number of innovations, including larger ship sizes to capitalize on economies of scale, the use of alternative fuels and ...
U.S. SEC Charges Brokers in Scheme to Profit From Terminally Ill Through VA Sales
U.S. securities regulators filed civil charges against two brokers and seven others, saying they were involved in a scheme to profit from the death of terminally ill patients through variable annuity ...
Uber Expands Insurance Coverage for Ridesharing Drivers
UberX on Friday expanded the insurance coverage it offers to ridesharing drivers, a step toward easing the concerns of U.S. regulators and lawmakers and creating broader acceptance of the services. ...