September, 2007
DETROIT (Reuters)?The United Auto Workers union and General Motors Corp. reached a tentative contract Wednesday, ending a national strike by 73,000 workers with a groundbreaking deal that includes a health-care trust fund. The agreement allows GM to shift more than $50 billion of retiree...
LONDON?London-based Direct Line Insurance P.L.C., a U.K personal lines insurer, has announced the launch of four new commercial insurance policies. The products will be come into effect over September and October under the umbrella brand Direct Line for Business. They have been developed for...
MUNICH, Germany? Considering the increasing worldwide trend of obesity and the burden it places on healthcare systems, Munich Reinsurance Co. is developing solutions for German and international insurers to manage the risks. The proportion of overweight and obese people in the population as a...
TAIPEI, Taiwan (Reuters)? HSBC Holdings, Europe's biggest bank, said on Wednesday it will open an insurance business in Taiwan as it aims to tap into the fourth-biggest insurance market in Asia. The operation, which would be the British bank's third new move this year in Asia, where it has...
BOSTON?State Street Corp. will freeze its defined benefit pension plan next year and enhance its 401(k) plan, the Boston-based financial services firm said Monday. Effective Jan. 1, 2008, employees will stop accruing benefits, while State Street will match 100% of employees? 401(k) salary deferrals...
WASHINGTON?The U.S. Supreme Court on Tuesday agreed to decide whether federal law pre-empts the product liability claims that diabetes patients filed in Michigan state court against pharmaceutical company Warner-Lambert & Co. The plaintiffs claim that the diabetes drug Rezulin, which Warner-Lambert...
JERSEY CITY, N.J.?The U.S. property/casualty insurance industry reported a 10.7% increase in net income, to $32.6 billion, for the first half of 2007 compared with the same period a year ago, according to the Insurance Services Office Inc. and the Property Casualty Insurers Assn. of America. The...
WASHINGTON (Reuters)?The U.S. Supreme Court said Tuesday that it would review a patent fight in which LG Electronics accused Quanta Computer Inc. of Taiwan and others of infringing patents on microprocessor chips in its personal computers. The case has widespread implications because it raises...
WASHINGTON?Distributors of certain imported consumer and food products would be required to demonstrate that they have the financial ability to cover risks associated with recalls and product safety under a bill introduced by two freshman senators. Under the Food and Product Responsibility Act, a...
LONDON, England? The London-based Institute of Risk Management has revealed a new International Diploma in Risk Management. The diploma is the IRM's postgraduate level distance learning qualification and has been redesigned in order to take into account a much broader view of risk and risk...
