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Property/casualty insurance companies "do not have the characteristics of a firm that pose a system risk," and therefore should not be subject to federal oversight, a coalition of large insurers told federal regulators.
A policyholder group is criticizing the Wisconsin Office of the Commissioner of Insurance for not protecting Ambac Assurance Corporation policyholders after
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Lawsuits filed in reaction to low deal prices for mergers and acquisitions helped fuel an increase in the overall level of third-quarter securities lawsuits, even as suits related from the credit crisis petered out, experts said recently.
The American Insurance Association (AIA) said insurers should have a blanket exemption from the "Volcker Rule" based on language contained in the financial services reform legislation passed by Congress.
Claims Magazine is twittering every day about breaking news and timely topics -- not to mention keeping readers up to date on what's being posted on claimsmag.com.
Munich-based insurance giant Allianz Group said 2010 third quarter net income dropped 8.8 percent to EUR1.3 billion ($1.8 billion at current exchange rate) due to a higher tax expense.
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