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The firm said it also lowered the long-term counterparty credit rating on GMAC's mortgage finance subsidiary, Residential Capital LLC, to "CCC-minus" from "CCC-plus," and said both parent and subsidia
NAIC President-elect and New Hampshire Commissioner Roger Sevigny confirmed that the NAIC's Internal Administration (Ex 1) subcommittee approved the budget. The budget still must be approved by the NA
SAN FRANCISCO--Attorney William Lerach, the onetime mastermind behind countless fraud-tainted securities class actions, said in an interview before going to prison that the illegal methods he used were
The Council of Insurance Agents & Brokers said its 96th annual Insurance Leadership Forum meeting will be held next year in Colorado because of continued labor strife at the Greenbrier, its traditiona
SAN FRANCISCO--Securities class actions are being brought with more institutions as plaintiffs and show no signs of decreasing, despite the imprisonment of one of the nation's busiest class action lawy
The soft market is nearing its end as price decreases begin to show signs of moderation and the financial turmoil begins to take a toll on insurance company earnings, according to the chief executive
ImageNow is designed to simplify business processes within insurance organizations by creating context for documents across the enterprise, with new features that improve usability, enhance
Life insurers who are members of the American Council of Life Insurers had petitioned the agency to participate in the program in late October, but property-casualty insurers who are members of the
During a financial analysts' conference call Thursday to discuss Marsh & McLennan's third-quarter results, Daniel S. Glaser, chairman and chief executive officer of Marsh, said plans for the company's
WASHINGTON--Sen. Chris Dodd, D-Conn., said today that he had decided to remain as chairman of the Senate Banking Committee "to build an economy that is strong and in which every American has the oppor
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