Detroit Judge Tosses Asbestos Case Testimony; 2,000 Cases in Jeopardy
A Wayne County, Mich. judge has thrown out medical evidence and expert testimony in asbestos litigation from a doctor who diagnosed thousands of patients with asbestos-related ailments. Circuit Ju
New York Insurance Broker Arrested for Larceny
An insurance broker from Rockland County, New York has been arrested on charges he stole $6,500 that two businesses gave him to pay for workers' compensation and business liability insurance premiums,
Ex-Pennsylvania Judge Found Guilty of Insurance Fraud
A retired Pennsylvania appellate judge was convicted of mail fraud and money laundering after prosecutors said he lied about neck and back injuries in a fender bender to collect $440,000 from two insu
Fire Causes $800K in Damage to Delaware House
Fire officials are investigating a blaze that caused $800,000 in damage to a house in Greenville Manor, Delaware that was undergoing renovations. The fire broke out about 8 p.m. Tuesday in the 3800
S&P Revises Atradius Outlook to Negative; Affirms Ratings
Standard & Poor's Ratings Services has revised to negative from stable its outlook on Atradius Credit Insurance N.V., Atradius Reinsurance Ltd., Atradius Trade Credit Insurance Inc., and Compañía Espa
S&P Raises Munich Re Africa Ratings
Standard & Poor's Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on South Africa-based reinsurer Munich Reinsurance Co. of Africa Ltd. to 'A' from
S&P Raises Hannover Re Africa Ratings to 'A'
Standard & Poor's Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on South Africa-based non-life reinsurer Hannover Reinsurance Africa Ltd. to 'A'
Zurich Completes Russian Acquisition
Zurich Financial Services Group has announced the completion of the acquisition of a remaining 34 percent minority stake in Russia's OOO NASTA Insurance Company, which was renamed Zurich Retail Insura
Is Warren Buffet Losing His Touch?
Investors are wondering if Warren Buffett has lost his touch. They are bailing out of Berkshire Hathaway Inc stock and have lost some confidence that the insurance and investment company, run by on
ACE Names Ringsted Chief Risk Officer
ACE Limited has announced the appointment of Sean Ringsted as Chief Risk Officer for the ACE Group of Companies. In this role, which will be in addition to his current responsibilities as Chief Actuar
Willis' Faber Unit Consolidates Fine Art, Jewelery, Specie, K&R, Bloodstock
Faber & Dumas, the newly formed third-party wholesale brokerage division of Willis Group Holdings, announced that three additional Willis specialty businesses - Fine Art, Jewelry & Specie (FAJS), Spec
Bush Briefed, U.S. Consulting Allies on Somali Pirate Menace
President George W. Bush has been briefed about increasing attacks by Somali pirates off east Africa, and the United States is consulting with other U.N. Security Council members on ways to combat the
Report China Fund Seeks Stake in AIG Unit
A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a 49 percent stake in American Life Insurance Co (Alico), a unit of AIG, in a deal that could be worth up to $10.6 bi
AEGON's Bid for TARP Cash Doomed
A Dutch insurer's experimental bid to tap the U.S. government for bailout cash looks doomed to failure, closing off an avenue for other insurers. Aegon NV said this week it was mulling buying a small
German President Wants International Financial Market Watchdog
The world needs a supervisory body for financial markets to which end the International Monetary Fund (IMF) must become more independent, German President and former IMF chief Horst Koehler said on Fr