Topic: Industry Developments
KAMP RE Cat Bond About to be Triggered
Nov 12, 2007 | Catastrophe Claims, Industry Developments, Reinsurance | United States
Last week, Standard & Poor’s (“S&P”) revealed that a $190 million catastrophe bond issued by special purpose vehicle KAMP RE 2005 Ltd. (“KAMP RE”) on behalf of Swiss Reinsurance America Corp., (“Swiss Re”) is about to be triggered.
Read MoreBermuda Dissolves Parliament, Will Hold General Election In December
Nov 7, 2007 | Industry Developments | Bermuda, United States
Bank of America Corp. Completes Sale of Its Commercial Insurance Brokerage
Nov 5, 2007 | Industry Developments | United States
The International Insurance Center of Puerto Rico
Nov 2, 2007 | Excess and Surplus Lines, Industry Developments, Latin American Developments, Regulatory | United States
Merger Plans Announced Between Edwards Angell Palmer & Dodge LLP and Kendall Freeman of London
Oct 30, 2007 | Florida Developments, Industry Developments, Massachusetts Developments, New Jersey Developments, New York Developments | United States
30,000 Red Sox Fans Go To Bed Particularly Happy, At Prize Indemnification Insurer’s Expense
Oct 29, 2007 | Industry Developments, Massachusetts Developments | United States
Oregon Attorney General Settles State Antitrust Claims with Insurer
Oct 29, 2007 | Antitrust, Industry Developments, Regulatory | United States
On October 26, 2007, Oregon AG Hardy Myers announced a settlement with ACE Group Holdings, Inc. and its subsidiaries (“ACE”) over allegations of improper, fictitious quoting and steering of insurance businesses. The AG filed a stipulated judgment in Marion County State Circuit Court, in which ACE agreed to pay $4.5 million to a group of eight Attorneys General in settlement of their antitrust claims with no admission that ACE violated any laws.
Read MoreIf Red Sox Win the World Series, Boston Area Furniture Retailer, Backed by an Insurance Policy, Will Pay Full Refund for Sales Made in the Spring
Oct 26, 2007 | Industry Developments, Massachusetts Developments | United States
A Massachusetts-based furniture store, Jordan’s Furniture, ran a “Monster Deal” promotion (named for the left field Green Monster in Fenway Park) this past spring that promised to customers a full refund on certain furniture purchased between March 7th and April 16th if the Red Sox were to win the World Series. The refund applies to sofas, dining tables, beds and mattresses.
Read MoreMichigan Commissioner Linda Watters Resigns
Oct 26, 2007 | Industry Developments, Regulatory | United States