October, 2007
Most commercial insurance prices continued to soften in the third quarter, with only property coverage costs increasing, according to the latest findings from the RIMS Benchmark Survey. Property premiums rose by 2.1% on average compared with the comparable period in 2006, with the increase driven...
WASHINGTON?The District of Columbia Department of Insurance on Tuesday announced it has approved a 7.6% workers compensation rate decrease for voluntary market industrial risks. The department also approved a 10.6% reduction for industrial classes in the residual market. The rates filed by Boca...
FORT COLLINS, Colo.?Hurricane forecasters at Colorado State University have downgraded predictions for this year, saying Tuesday that they expect four named storms in the Atlantic the rest of the season. The forecasters earlier had predicted five named storms for the period, though October and...
BLUE BELL, Pa.?PMA Capital Corp., a third-party administrator, has bought underwriter Midlands Management Corp., PMA said Tuesday. The purchase of Oklahoma City-based Midlands, which underwrites excess workers compensation coverage and offers third-party administrative services, is a ?natural...
ALBANY, N.Y.?The U.S. Supreme Court has declined to hear an appeal filed by social service organizations operated by the Roman Catholic Church and other religious groups that sought an exemption from a New York law requiring them to provide birth control coverage to their employees, even if the...
INDIANAPOLIS?WellPoint Inc. will reorganize its business operations to create two separate units focused on the commercial and consumer health insurance sectors and has made numerous executive-level changes. Effective Oct. 15, the company?s commercial and consumer business unit will be separated...
MELBOURNE, Australia?Benefits consultant Mercer L.L.C. has promoted Peter Promnitz to the role of region head for Asia Pacific. Mr. Promnitz, who will retain his position as chief executive for Australia and New Zealand, will be responsible for growth and expansion of Mercer?a subsidiary of New...
LONDON ? Lloyd's of London insurer, Ascot Underwriting Ltd. has announced the creation of its Houston-based subsidiary Ascot Underwriting Inc. The move by Ascot, which is backed by New York-based American International Group Inc., follows its launch into the Singapore market last year. The...
NEW YORK (Reuters)?The U.S. Equal Employment Opportunity Commission said Monday it sued Delphi Corp. for allegedly making illegal inquiries about employees' medical conditions and retaliating against those who objected. The lawsuit, which was filed Friday in U.S. District Court for the Western...
NEW YORK?Marsh & McLennan Cos. Inc. on Monday announced the appointment James J. McNasby to general counsel of Marsh Inc., MMC?s insurance brokerage and risk advisory unit. Mr. McNasby?who most recently served as senior vp of North America Legal for Northfield, Ill.-based Kraft Foods Inc. and chief...
