News

A jury in New York found that Toyota is not responsible for a 2005 crash in the first trial related to the car manufacturer’s recall of eight million vehicles due to unintended acceleration.

Circumstances surrounding David Sokol’s recent resignation from Berkshire Hathaway are credit negative for the company, Moody’s Investors Service says, due to an appearance of conflict of interest and, more broadly, management-succession risk at the company.

In the wake of New York’s decision not to join a nationwide compact on sharing of surplus-lines taxes, industry officials believe such compacts may be doomed.

Following months of rates stuck firmly in a soft market mud, MarketScout reports the overall composite rate for U.S. property and casualty commercial insurance policies measured minus-4 percent in March after four consecutive months of minus-5 percent.

Led by Sen. Mike Johanns (R-Neb), the Senate passed legislation repealing the much-criticized 1099 reporting provision in the healthcare-reform law and sent the bill to President Obama for his signature.

RIMS says it has established RISK PAC, a political-action committee to support the campaigns of candidates for the U.S. Congress.