Nationally – and for the first time since 2002 – thieves preferred domestic makes over foreign brands
The rules issued Monday include a provision that would allow religious institutions to opt out of offering birth control coverage
Marsh announced that it is realigning its zonal structure in the U.S. to streamline operations — going from four zones to three. The offices of its South Zone will be integrated into its East and Central Zones. Kris Davis, currently Southwest Partnership Leader in the West Zone, will succeed Mr. Bidmead as the West Zone [...]
Comments about Canada found in sensitive U.S. diplomatic documents exposed by WikiLeaks will not affect relations between the two countries, says Foreign Affairs Minister Lawrence Cannon. Canada and the United States have always had “great” relations and any diplomatic cables that surface this week won’t change that, Cannon said, nor should they be a matter [...]
Thanks to the overhaul of financial rules becoming law on July 21, the Federal Deposit Insurance Corp. can truthfully say “the check is in the mail” to about 9,500 customers of banks that failed in 2008. The agency plans to mail depositors roughly $200 million on July 22. The maximum the FDIC would insure in [...]
Goldman Sachs & Co. has agreed to pay US$550 million to settle civil fraud charges that accused the Wall Street giant of misleading buyers of mortgage-related investments. The settlement came on July 15 – the same day that the Senate passed the stiffest restrictions on banks and Wall Street since the Great Depression. The deal [...]
Insurance industry software and service provider Duck Creek Technologies is expanding through the completed acquisition of Duck Creek Technologies Europe Ltd. (Duck Creek Europe). Duck Creek Europe was founded in 2007 to introduce Duck Creek’s modern rating, policy administration and billing solutions to the European insurance industry. The two entities have worked closely together during [...]
View the video here on your mobile device. The Sarbanes-Oxley Act, named after sponsors Senator Paul Sarbanes and Representative Michael Oxley, was passed in 2002 as a response to some of the accounting issues related to Enron and WorldCom. The law created the Public Company Accounting Oversight Board (PCAOB) to regulate the accounting industry. The [...]
The idea that older drivers are nervous and crash-prone is proving to be an ill-founded stereotype. According to the US-based Insurance Institute for Highway Safety (IIHS), older drivers are driving more, crashing less and dying in fewer accidents. Severe crashes reported to police officers went down, too. The IIHS says these declines weren’t anticipated. Nine [...]
BP says that it has now spent more than US$3 billion in attempts to stop an oil leak in the Gulf of Mexico and to settle damage claims. The oil company said yesterday that is has spent $3.12 billion so far attempting to contain oil, paying claims and reimbursing the U.S. and local governments. BP [...]
Despite a changing and uncertain marketplace, U.S. terrorism insurance take-up rates continued to climb in 2009 as companies of all sizes and across all industries continued to purchase terrorism coverage, according to a report released by Marsh. Sixty-one percent of firms surveyed by Marsh purchased property terrorism insurance in 2009, an increase from 57 [...]
AccuWeather.com’s Chief Hurricane Meteorologist says that the 2010 hurricane season is set to become even more extreme. Joe Bastardi has increased his original forecast from 16-18 storms to 18-21, with at least eight impacts and six hurricanes, and two or three of those hurricanes will have major landfalls. Only five years in the 160 years [...]
The U.S. Securities and Exchange Commission and its counterparts in Ontario and Quebec say they will work more closely on day-to-day supervision and oversight of the entities they regulate. The SEC has long worked with other regulators on enforcement matters, which often cross international borders, but is putting in place a tighter relationship with [...]
Kingsway Financial Services said on June 14 that it plans to sell its wholly owned subsidiary, Mendota Insurance Co., a non-standard insurance writer based in Eagan, Minn. Kingsway is focused on providing non-standard automobile insurance in the United States to drivers who don’t qualify for conventional insurance. Last month, the Toronto-area company, which reports in [...]
On June 11, U.S. regulators shut down a bank in Washington, bringing to 82 the number of U.S. bank failures this year. Seattle-based Washington First International Bank, with US$520.9 million in assets and $441.4 million in deposits, was closed by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corp. as receiver [...]
Unintended acceleration in Toyota vehicles may have been involved in the deaths of 89 people over the past decade, upgrading the number of deaths possibly linked to the massive recalls, the government said. The U.S. National Highway Traffic Safety Administration said that from 2000 to mid-May, it had received more than 6,200 complaints involving sudden [...]
