Maurice R. Greenberg denied on the witness stand yesterday afternoon that there were restrictions on American International Group stock he is accused of misappropriating.
Independent agents can help make up for declining premium growth in a soft market and a recessionary economy by helping clients create captive insurance companies, where appropriate, one alternative market manager suggests.
It has been roughly a decade since federal lawmakers cleared the way for insurance carriers to enter banking, yet progress has been more the exception than the rule. Only a few players have built up a lending business and profits have been scarce.
California Insurance Commissioner Steve Poizner has announced a settlement of four lawsuits that provides the liquidation estate of failed workers' compensation insurer Fremont Indemnity Company with up to $37.3 million.
The Professional Insurance Agents of New Jersey Inc. selected William R. Vowteras president of the association during its recent joint business meeting of the PIANJ and PIA New York in Atlantic City, N.J.
With President Obama's emphasis on shovel-ready construction projects, the need for wrap-up insurance programs--also known as controlled insurance programs (CIPS)--is expected to increase.
Employment-related claims could be on the rise after a recent U.S. Supreme Court decision determined that a collective-bargaining agreement which requires union members to arbitrate age discrimination claims is enforceable as a matter of federal law.