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AIG Workers’ Comp Settlement: $450M To All But Liberty Mutual
January 07, 2011
American International Group Inc. (AIG) has tentatively agreed to pay $450 million to seven named insurance companies in order to settle a protracted federal civil lawsuit over alleged underreporting of workers’ compensation premiums....
Fla. Senate Examines Sinkholes; Outlines Ideas for Lawmakers
January 07, 2011
The Florida Senate’s Banking and Insurance Committee has weighed in on the sinkhole issue, proposing a set of recommendations for lawmakers when they meet later this year. ...
AIG To Give 75 Million Warrants To Shareholders
January 07, 2011
American International Group (AIG) said it will issue about 75 million warrants so shareholders with stock in the company, as of Jan. 13, will have the opportunity to buy common stock at $45 per share. ...
Rep. Bachmann Seeks To Repeal Dodd-Frank
January 07, 2011
Rep. Michele Bachmann, R-Wis., plans to introduce legislation repealing the Dodd-Frank financial services law, calling it “misguided” and a “blatant abuse of power.”...
N.J. Captive Bill Awaiting Gov. Christie’s Signature
January 07, 2011
A bill that will allow captive insurers in New Jersey passed both houses and is on its way to Gov. Chris Christie for signing, which is expected to happen this month....
Rothman Named Minnesota Commissioner Of Commerce
January 07, 2011
Minnesota Gov. Mark Dayton appointed attorney Mike Rothman as head of the state’s Commerce Department. He will start Jan. 12....
IIABA Says HHS Interfering In NAIC MLR Deliberations
January 07, 2011
The Department of Health and Human Services is being criticized for allegedly interfering with National Association of Insurance Commissioners’ deliberations on ...
Nine U.S. Insurers On List Of World’s Largest Based On Net Written Premium
January 06, 2011
A Japanese company tops the list of the world’s largest insurers measured by assets, and by net written premiums, a French insurer comes in first....
Acquisition Spree Continues; Marsh Acquires RJF Agencies
January 06, 2011
The 2011 merger and acquisition spree continued with the recent announcements of six agencies acquired by four major insurance brokerage firms, with Marsh & McLennan Agencies scoring the largest of the lot....
NCOIL Warns Congress That Fed Regulation Takes Revenue From States
January 06, 2011
The National Conference of Insurance Legislators has sent a letter to all members of the new Congress warning them that a federal insurance charter could ultimately cost states up to $16 billion in annual revenue....
Plan For N.Y. Dept. Consolidation About Efficiency, Not Just Cost Savings
January 06, 2011
Emphasizing the need for a new approach to state government, New York’s new governor is seeking a radical realignment of the way the state does business, including folding the Department of Insurance in with two other agencies....
MarketScout: End Of Soft Market In Sight
January 06, 2011
The end of the soft market is in sight and prices will begin an upward swing toward the latter part of this year, according to the chief executive of MarketScout....
2010 Quakes Cause $10B In Insured Losses; U.S., Japan Preparation Lacking
January 06, 2011
Earthquakes in 2010 caused insured losses exceeding $10 billion, and the industry as well as governments around the world must take action to prepare for future quakes, according to a new report from catastrophe modeler EQECAT....
N.Y. Eyeing Plan To Combine Insurance & Banking Depts.
January 05, 2011
To deal with a record deficit, New York’s new governor is looking to make cuts in state government, and he is eyeing the state’s insurance department as one area to promote efficiency....
Hallmark Completes Buy Of State Auto’s Nonstandard Subsidiary
January 05, 2011
Hallmark Financial Services said it has completed a $14 million deal to buy State Auto Financial Corp.’s nonstandard automobile insurance business....

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