October, 2007
LONDON?Insurance and reinsurance buyers worldwide can look forward to another year of softening prices, terms and conditions in all but the most catastrophe exposed lines of business, according to a veteran Lloyd?s of London executive. Brian Caudle, chairman of Advent Capital (Holdings) Ltd....
LONDON? FTSE 100 companies are choosing to report risk above and beyond the U.K?s regulatory requirements, according to London-based Marsh Ltd. In a white paper that examines 10 years of annual statements by 41 of the current FTSE 100 ? the largest 100 listed companies in the United...
LONDON?The U.K. P&I Club is seeking an overall premium increase of 17.5% from shipowners in 2008 as it braces for heavy claims from the International Group of P&I Club?s claims-sharing pool. Pool claims for the 2006-2007 policy year are expected to total more than $550 million, the worst in 15...
BOSTON?A key House lawmaker says he has a plan to encourage passage of a bill to expand and extend the federal backstop for terrorism coverage. Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, told members of the Property Casualty Insurers Assn. of America Monday that...
LOS ANGELES (Reuters)-William Lerach, a top U.S. shareholder attorney who won billions on behalf of Enron investors, pleaded guilty Monday to criminal conspiracy and is expected to go to prison for his role in a kickback scheme at his former law firm, Milberg Weiss L.L.P. The plea agreement carries...
NEW YORK (Reuters)?Shares of American International Group Inc, the world's biggest insurer by market value, edged higher Friday as analysts questioned whether fears of a big write-down due to its subprime and repackaged debt exposure were overdone. "We believe the market is likely overreacting,"...
BATON ROUGE, La.?James J. Donelon won re-election as Louisiana?s insurance commissioner in Saturday?s open primary elections. Mr. Donelon, a Republican who was first elected to the post in a special Sept. 30, 2006, election, received 51% of the vote in Saturday?s election. His closest competitor,...
TALLAHASSEE, Fla.?An employer and a medical laboratory can be held liable for disclosing HIV test results for a correctional facility nurse, Florida?s Supreme Court ruled Thursday in a 4-3 decision. The case of Florida Department of Corrections vs. Lisa M. Abril involves a nurse who sought testing...
LOS ANGELES (Reuters)?California will sue the Environmental Protection Agency in the state's bid to crack down on greenhouse gas emissions from vehicles, a spokesman for Gov. Arnold Schwarzenegger said Saturday. California will file a lawsuit against the EPA demanding the right to set its own...
OLDWICK, N.J.?A.M. Best Co. Inc. on Monday upgraded the financial strength rating of specialty reinsurer Amlin Bermuda Ltd. to A from A-. Amlin?s conservative business plan and the expectation that the Hamilton, Bermuda-based company will maintain strong risk-adjusted capitalization prompted the...
