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Thursday, March 07, 2013

Banks Seek Dismissals of Lawsuits Over Libor

LiborLawyers for some of the world's biggest banks made their latest bid Tuesday to persuade a judge to toss out a collection of lawsuits accusing them of manipulating a key interest rate and cheating inve...

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AIG Creates Mortgage Portfolio Initiative

AIGAIG announced on Wednesday it has launched a new business unit called Connective Mortgage Advisory Company (Connective). The new company, which recently facilitated AIG's first correspondent mortgage purchase, draws upon AIG's investment expertise and the experience of its mortgage insurance subsidiary, ...

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General Star Launches High Value Homeowners Program, Offered through All Risks

All RisksGeneral Star Management Company today announced its High Value Homeowners program. Effective March 1, the product is offered through All Risks, Ltd., the program administrator f or this new facility. Together, they will provide eligible homeowne...

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Willis Survey: AIG and Lexington Ranked #1 in Keeping Promises After Sandy

Sandy claimsAIG and Lexington Insurance were ranked as the number one performing carrier in the U.S in claims response after Superstorm Sandy of the top five named U.S. insurers in a recent survey by leading global insurance broker Willis.

Willis gathered results from its associates' feedback, as well as...

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Sparta CEO: Industry's Renewed Focus on Underwriting "A Good Thing"

SpartaWith interest rates hovering at rock bottom, insurance companies are focusing more on underwriting, said the newly promoted leaders of Sparta Insurance Holdings Inc.

"We saw rate increases of 6% in 2012 and for the first three months of 2013, it was more like 7%," said Ralph E. Jones III, who was recently promo...

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Carnival Triumph's Biggest Insurance Claims to Come from Hull & Machinery, Not Passenger Suits

Carnival CorpCarnival Corp. & plc, the parent company of the Carnival Triumph, could file larger insurance claims to repair the ship than to handle litigation brought by unhappy passengers, insuran...

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Penn State Sues PMA Over Jerry Sandusky-related claims

Penn StatePenn State alleges in a new lawsuit that its insurance carrier has not been honoring its legal obligation to cover claims related to sexual misconduct by former assistant football coach Jerry Sandusky.


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USG Announces Ca. Office Expansion

USGUSG Insurance Services, Inc., a national wholesaler and MGA announced the expansion of operations in Ca. with the addition of two new Producer/Brokers; Joyce Chambers and Angi Van Zanten.

Joyce Chambers has over 20 years of experience in the ins...

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Justices to Take Up Case on Drug Makers' Liability

Drug makers liabilityThe injuries that Karen Bartlett suffered after taking a mild pain pill are enough to make anyone squeamish.

Ms. Bartlett, who lives in Plaistow, New Hampshire, developed a rare but severe reaction to the anti-inflammatory drug sulindac after a doctor prescribed it to treat sh...

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