October, 2007
NEW YORK?American International Group Inc. has launched the AIG Transportation Solutions unit, the insurer announced Monday. The new unit for New York-based AIG will provide insurance solutions specifically for U.S. trucking operations, both major fleets and owner/operator businesses....
NEW YORK (Reuters)?DuPont Co. said Friday it will appeal a U.S. jury's verdict awarding the plaintiffs in class-action lawsuit nearly $200 million who claimed they were sickened by pollution from a former zinc smelting plant. "We are extremely disappointed by the outcome of the Spelter case,"...
WASHINGTON?The tougher pension funding rules laid down by last year?s sweeping pension reform law set to go into effect on Jan. 1, 2008, would be delayed one year under legislation introduced Wednesday. Rep. Earl Pomeroy, D-N.D., who introduced the bill, H.R. 3868, along with Rep. Eric Cantor,...
WASHINGTON?The House Education and Labor Committee has approved the Employment Non-Discrimination Act, which would extend nondiscrimination protections to gay, lesbian, bisexual and heterosexual people. The bill that the committee approved on a 27-21 vote Thursday would prohibit employers,...
LONDON (Reuters)?U.K. insurer Resolution has rejected a second bid from rival Pearl, saying the £4.7 billion ($9.6 billion), increased offer undervalues it and backing instead an existing plan to merge with Friends Provident. Rival insurers have been eyeing Resolution, which has focused on...
PEMBROKE, Bermuda? -Endurance Specialty Holdings Ltd., the Pembroke, Bermuda-based provider of property and casualty insurance and reinsurance, has announced that Patrick Aeschbacher will join Endurance Worldwide Reinsurance to lead their reinsurance business in Asia and Australia. Mr....
LONDON? Lloyd?s of London-based Liberty Syndicate Management Ltd., part of Boston-based Liberty Mutual Group Inc., has announced the appointment of Nick Metcalf as its new chief executive. Mr. Metcalf joins from New York-based Arch Insurance Group, where he was director of European operations....
NAIROBI, Kenya? Inadequate risk management at Kenya Reinsurance Corp. Ltd. is among the concerns that led A.M. Best Co. Inc. to revise the reinsurer?s outlook to negative from stable while affirming its B+ financial-strength rating. ?The negative outlook reflects Kenya Re?s inadequate risk...
NEW YORK (Reuters)?New York's attorney general on Thursday expanded his investigation into doctor-ranking programs run by health insurers, warning the programs may steer patients toward low-cost physicians at the expense of quality. Attorney General Andrew Cuomo sent separate letters to Empire Blue...
WASHINGTON?The limits on contributions to defined contribution plans and the amount of benefits that can be funded through defined benefit pension plans will increase in 2008, the Internal Revenue Service announced Thursday. Among the increases, the maximum total contribution, including employer...
