Insurance News

Posts Tagged ‘Backs

U.K.-based insurance firm Prudential has called off its pursuit of AIA, American International Group’s Asian business, scuttling a deal worth more than $30 billion.

In response to the deal’s collapse, Fitch Ratings removed its positive ratings watch on AIG Group, saying the move reflects “uncertainty around the company’s future ownership”. Meanwhile, Treasury Secretary Timothy Geithner said American International Group has other options Read the rest of this entry »

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Indiana would join a growing number of states that have banned texting while driving if legislation approved by a state House committee on Wednesday becomes law.

The House Public Policy Committee voted unanimously for the bill by Democratic Rep. Joseph Pearson of Hartford City after several people told the panel that it would save lives. It would make transmitting text messages or e-mails while driving a Class C infraction with a possible Read the rest of this entry »

TALLAHASSEE, Fla. (AP) — Florida insurance regulators are failing in their duties if they don’t make the state-backed Citizens Property Insurance Corp. raise property insurance rates by 10 percent across the board, a business group lobbyist said Tuesday.

Barney Bishop III, president of Associated Industries of Florida, said it’s ”astonishing” that the state-backed insurer would not increase rates on all policies by 10 percent.

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