Under an agreement announced today, the Armonk, N.Y.-based bond insurer will pay a $50 million penalty to the Securities and Exchange Commission, $10 million to investors and $15 million in penalties
Kansas City, Mo.-based insurance broker Lockton Companies, LLC and Los Angeles-based IBIS Advisors Co. said they have entered into a strategic consulting alliance to benefit Lockton clients internatio
The report, "U.S. Reinsurance Renewals at January 1, 2007," published by New York-based Guy Carpenter, notes that while soft market conditions prevail in the primary market, the reinsurance market has
Bank of America securities analyst Tamara Kravec in a note to investors said the contrast will be starker when comparing the storm that struck the United Kingdom and the continent this month to the on
Bear Stearns analyst David Small said a recent conference call that included national and Florida property-casualty industry leaders concluded that reforms passed by the Legislature will squeeze priva
The YAC will host a number of events geared specifically to young agents, including a first-timers reception, the Young Agent Attendee and InsurPac Chairs luncheon, a hospitality event, and the Presid
Patni Computer Systems, an IT consulting and services provider, has announced the expansion of its onshore operation in the U.S. with the opening of its third regional development center in
U.S. District Court Judge L.T. Senter Jr. said in a Friday ruling that besides failing to justify attorneys' fees for the class-action settlement, the proposal lacked information on a multitude of
Germany's Munich Re Group on Friday set its estimated pre-tax losses from Winter Storm Kyrill at 600 euros ($778 million)--its biggest individual loss being the container ship MSC Napoli, which went ag
The measure is being sponsored by Rep. Peter Fazio, D-Oregon, Rep. Bobby Jindal, R-La., and Rep. Gene Taylor, D-Miss., among others, according to a memo obtained by National Underwriter that Rep. Tayl