Insurance industry
The Greater Hyderabad Municipal Corporation (GHMC) has implemented a new policy to provide insurance coverage for 20,000 outsourced employees working in the health and sanitation wings. The policy, called the Road Accident Policy (Group Personal Accident Policy with Hospitalization), will offer comprehensive insurance coverage, including payment of 100% of
Insurance industry
The National Insurance Company Limited (NICL), a state-owned enterprise in Pakistan, has reaffirmed its Insurer Financial Strength (IFS) rating by JCR-VIS Credit Rating Co. Ltd. (JCR-VIS) at A+ with a stable outlook. Despite recent challenges, including the 2010 floods, the company has maintained a robust underwriting performance, with an overall
Insurance industry
Toyota Motor Corp. is facing additional subrogation suits from seven insurers, including Allstate Corp., to recover costs related to accidents attributed to sudden acceleration problems. The insurers, which have filed the suits in Los Angeles County Superior Court, accuse Toyota of negligence, product liability, fraud, and breach of warranties. The
Insurance industry
As the St. Louis metro area grappled with the aftermath of the tornadoes that struck on Friday, hundreds of residents have already filed claims for property damage with the three largest insurance carriers in Missouri. With over 700 claims filed, the insurers are gearing up to handle the influx of
Insurance industry
American International Group Inc. (NYSE: AIG) has completed a $2 billion debt offering, marking its first venture into the debt market in two years. The company plans to use the proceeds for general business purposes, with the approval of the Federal Reserve Bank of New York. This move is part
Insurance industry
A former high school football player, LaQuan Phillips, has sued his school district and insurance carrier after a bid to tap $2.5 million in coverage was denied. Phillips was temporarily paralyzed during a game and incurred over $195,000 in medical expenses. The lawsuit claims the school district failed
Insurance industry
Corruption scandals have been plaguing the Government in Delhi, with the latest one involving an alleged bribes-for-loans scam that has sent bank and property shares plummeting in Mumbai. Eight senior executives, including five from large state-owned banks, were arrested this week, and the Central Bureau of Investigation expanded its investigation
Insurance industry
India's Central Bureau of Investigation (CBI) has arrested eight top executives of banks and financial institutions, including Ramachandran Nair, CEO of LIC Housing Finance Ltd, and Naresh K Chopta, secretary (investment) at Life Insurance Corporation of India, for allegedly accepting bribes to facilitate large-scale corporate loans. The CBI
Insurance industry
The New York Stock Exchange (NYSE) has released its list of most declines, featuring top companies that have experienced significant losses in recent trading sessions. The list includes Mirant Corporation, Heckmann Corporation, BlueLinx Holdings, and others. These companies have seen substantial drops in their stock prices, with some experiencing losses
Insurance industry
Investor uncertainty weighed on stocks throughout the session, leading to a mixed outcome. The S&P 500 index, despite closing with its largest weekly gain in nearly a year, struggled to make lasting gains due to the canceling effect of commodity producers' losses and technology sector gains. Goldman
Insurance industry
A tragic accident that claimed the life of a 16-year-old girl has led to a multi-hundred-thousand-dollar lawsuit against the driver involved. The Coontz family, parents Brian and Cathleen, on behalf of their late daughter Kailee, have filed a lawsuit against Stephen Jason Whitaker, who was convicted of manslaughter in connection
Insurance industry
State Farm, the largest administrator of federal flood insurance policies, announced Thursday that it will stop handling flood claims and policies this fall. The decision will impact approximately 800,000 customers nationwide who have bought their coverage through State Farm. The company, which has been administering federal flood policies in
