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Tuesday, April 02, 2013

Liberty Mutual, AIG Settle Workers' Comp Dispute, Clear $351 Million Settlement for Other Carriers

Liberty Mutual-AIGLiberty Mutual Group and American International Group Inc. have reached a settlement over a $450 million workers' compensation case, clearing the way for other carriers involved to receive $351 million,...

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Stockton, CA's Bankruptcy Poses Risk to Pensions

Stockton, CA bankruptcyA federal judge allowed Stockton, Calif., to restructure its finances under bankruptcy protection Monday, but he signaled it might have to cut payments to its pension fund, possibly setting a precedent for other cities.

Stockton, a port and agriculture center of 300,000 res...

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J.D. Power Survey: Overall Customer Satisfaction with Property Claims Experience Remains High

J.D. Power homeowner studyFollowing two of the worst years of natural catastrophic event property claim settlements in  the history in the United States, overall customer satisfaction with the property claims experience remains high, according to the J.D. Power and Associates 2013 Property Claims Satisfac...

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BP Claims Administrator Seeks Dismissal of Lawsuit Against Him

BP claimsThe court-appointed claims administrator for a multibillion-dollar settlement between BP PLC and a team of private plaintiffs' attorneys asked a federal judge Monday to throw out the company's lawsuit against him.

The suit that BP filed last month accuses Patrick Juneau of violating the settlement's terms ...

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FEATURE: Valley Forge Insurance Brokerage Delivers Quality Products in Focused Niches to Agencies with Profitable Results to Carrier Partners

Valley ForgeThis week we're featuring our storefront, Valley Forge Insurance Brokerage (VFIB), a national wholesaler that places coverage for 13,000 retail brokers across the country in niche or specialty-type program bu...

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N.Y. State Changes Insurance Rules In Hurricane Areas

Hurricanes and NYNew York State is taking action to reduce the amount of time an insurer can delay deliberation on a homeowner's insurance claim in the areas affected by Hurricane Sandy.

The New York Department of Financial Services has issued new rules designed to push insurers to process home insurance cla...

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ACE Completes Acquisition of Mexican Surety Lines Company Fianzas Monterrey

Ace ACE Limited announced today that it has completed the acquisition of Fianzas Monterrey in Mexico from New York Life Insurance Company for approximately $293 million in cash.

Mexico City-based Fianzas Monterrey is the nation's second-largest surety lines writer and the third-largest in Latin America, ...

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Torus Approved to Launch Lloyd’s Managing Agency

TORUSTorus, the global specialty insurer, today announced it has received approval from the UK Financial Services Authority and Lloyd's to launch its own Lloyd's managing agency, Torus Underwriting Management Limited "TUML".

TUML assumes management of Torus Syndicate 1301 with immediate effect, replacing the Chaucer "t...

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Webinar to Showcase Emerging Use of Real-Time Tools in the E&S Business

Real TimeThe Real Time/Download Campaign's April 9 Real-Time Day will feature a live webinar for retail agents, general agents and excess and surplus lines carriers titled "Real Time is Coming to the E&S Industry."
Led by a team from the E&S Joint Working Group (ESJWG), the session will demonstrate h...

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