A new wave of loan defaults, this time tied to commercial mortgages, is starting to hit insurance companies and may be contributing to the stock market’s woes.
The industry’s growing threats are forcing some radical changes. Some insurers, including Hartford Financial Services Group Inc., Genworth Financial Inc. and Lincoln National Corp., are applying to the government [...]
Shares of life insurers fell on Thursday, extending recent losses and sending some companies to new lows, on concerns the sector’s woes would only worsen in the fourth quarter.
There is growing concern over life insurers large exposure to commercial mortgage-backed securities, based on increasing volatility in CMBS indexes.
Bonds backed by U.S. commercial real estate loans [...]
About two months after the government first announced its multibillion-dollar bailout of insurance giant AIG, more insurance companies are lining up for federal dollars, leaving some consumers worried about their insurance policies.
Insurance companies “are suffering very badly because of the losses in their investment portfolios,” said Neena Mishra, a senior financial analyst who covers banking [...]
The United States is expected to embrace federal regulation of the insurance industry as early as 2009, according to financial and insurance executives, pushed to the forefront by the global economic crisis.
Federal regulation in the United States something that most other nations already have is expected, at least initially, to function in tandem with the [...]
A federal court jury in Pittsburgh has had a long weekend to mull nearly three weeks of testimony in the fraud trial of a retired Pennsylvania appellate judge.
Testimony wrapped up Thursday and the jury will return today for closing arguments before deliberating mail fraud and money laundering charges against former Superior Court Judge Michael Joyce.
Several [...]
WARREN, N.J.—Chubb Corp. plans to support student and emerging filmmakers and help promote the future of filmmaking through a new alliance and scholarship program. As part of an alliance with the Council on International Nontheatrical Events, Chubb established a scholarship for the 2007 and…
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Property/casualty insurers have more technology options to help them improve productivity during the current soft market than life/disability insurers, an expert says. For example, a Connecticut municipal risk pool, a Pennsylvania multiline insurer and an Ohio insurer of educators adopted programs…
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OLDWICK, N.J.—A.M. Best Co. Inc. has released a new methodology, "Analyzing Contingent Capital Facilities," describing how the rating agency evaluates contingent capital in reviewing companies‘ financial flexibility and capital management. Insurance organizations use contingent…
Tags: companies, insurance
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China Closer to Allowing Banks to Invest in Insurers
European Stocks Advance, Led by Rio Tinto; BHP, Cap Gemini Gain
Romney [...]
Property/casualty insurers must make improvements in their system interfaces with agents and brokers or risk losing business, an expert warns. Independent agents that want to market their risks to multiple insurers are frustrated by the time they waste rekeying data and meeting the specific…
Tags: business
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Stocks head for higher open after stronger-than-expected outlook from IBM, [...]
A comprehensive study will provide a detailed look at commercial insurance companies‘ policy administration needs, practices and solutions. The study, being conducted by Toronto-based management consulting, advisory and research firm Insurance Technology Group Inc. with the support of Hartford,…
Tags: commercial, commercial insurance, companies, comprehensive, insurance, insurance companies
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CryoLife faces a $110M suit, pledges vigorous defense
Is [...]
