News
New York Fund Closure Could Leave Workers’ Comp Insurers Short on Reserves
Possible changes to a New York special fund could leave workers' compensation insurers under-reserved, an industry executive has warned. The concern involves an unusual feature of the Empire State's ...
NFL, Ex-Players Prep For Court Battle Over Concussions
With perhaps billions of dollars at stake, a hearing Tuesday over concussion litigation filed against the NFL promises to be a brawl between legal heavyweights. About 4,200 former players have sued ...Fitch: Mexican Insurance Law Changes May Spur M&A
Fitch Ratings said recent changes to Mexican insurance law enhancing the regulatory framework may also spur merger and acquisition activity in the segment. In a recent statement, Fitch said the law ...
Stress Tests Make U.S. Financial System Stronger: Bernanke
Federal Reserve Chairman Ben Bernanke said on Monday the central bank's periodic bank stress tests have made the U.S. financial system more resilient. Contrasting the current state of U.S. banks to ...
W.R. Berkley Divests; Shifts InsurBanc To Connecticut Bank It Controls
InsurBanc -- a federal savings bank founded by the Independent Insurance Agents & Brokers of America and insurer W.R. Berkley Corp. a dozen years ago -- has joined Connecticut Community Bank ...Bond Insurer Ambac Moves Toward Bankruptcy Exit with IRS Settlement
Ambac Financial Group Inc. on Monday said it has reached a $101.9 million settlement of a dispute with the Internal Revenue Service, a key step in the bond insurer's effort to emerge from bankruptcy. ...
Global Maritime Trade Seen Doubling By 2030, Report Says
Global seaborne trade will more than double by 2030 as China's rapidly growing economy fuels demand for commodities, a report by ship classifier Lloyd's Register, defense technology firm Qinetiq and ...