American International Group (AIG) and its affiliates have approved to disburse nearly $146.5m to all 50 states and the District of Columbia to settle a workers compensation premium dispute. Florida Insurance Commissioner Kevin McCarty, ...
Tags: American International Group, insurance, compensation premium dispute
Bank of America (BofA) has been charged by homeowners in a Florida federal court over allegations for charging them excessively in connection with so-called force-placed insurance. The home owners were quoted by Bloomberg as saying, "A ...
Tags: Florida home owners, force-placed, BofA
The International Food Protection Training Institute has announced that it will assist the Saudi Food and Drug Authority (SFDA) to improve the food-safety training system in Saudi Arabia and the surrounding region. The training institute ...
Power Integrations has introduced a range of single-chip mains LED drivers for loads between 2.5 and 50W with +/-5% current regulation. Called LYTSwitch, the devices can be wired for isolated and non-isolated operation. "LYTSwitch ...
Tags: Power Integrations, LED drivers, LED
Pfizer has won US FDA approval for its rheumatoid arthritis (RA) therapy, Xeljanz (tofacitinib citrate) 5mg twice daily, indicated for patients who failed to respond to methotrexate. Xeljanz can be used as a single treatment regime or as ...
Tags: Pfizer, tofacitinib citrate, Xeljanz
The operator of a Gulf of Mexico production platform that was the site of an explosion on November 16, which killed at least one crew member, had a history of safety violations, the top US offshore drilling regulator said Wednesday. The ...
Tags: explosion, Gulf of Mexico, safety violations
The European Commission (EC) has stated in its latest review that the safety of nanomaterials should be evaluated on a case-by-case basis. The regulator said in its second regulatory review on nanomaterials that these materials are ...
Tags: safety of nanomaterials, nanomaterials, normal chemicals
The Federal Reserve Bank of New York (New York Fed) has completed the sale of the remaining securities in the Maiden Lane III (ML III) portfolio. The apex banking regulator said that it garnered a net gain for the benefit of the public of ...
Tags: New York Fed, remaining securities, Maiden Lane III, finance
MetLife has agreed to pay $500m in a multistate settlement with Florida insurance investigators in connection with holding death benefits from life insurance policies issued decades ago. The regulators accused the US insurer over non ...
Tags: MetLife, multistate settlement, death benefits, insurance
The Federal Reserve Bank of New York is all set to dispose more than $7bn in face value of “toxic” securities related to the government bailout of American International Group (AIG). The central bank of the US has planned to ...
Tags: NY Fed, face value, government bailout, insurance, AIG
Siemens has entered into an agreement to acquire Invensys Rail, the rail automation business of Invensys for approximately EUR 2.2 billion. At the same time, the company plans to divest its baggage handling, postal and parcel sorting ...
Tags: Siemens, rail, baggage handling, postal, parcel sorting activities
A French subsidiary of Helvetia insurance group has received European Commission approval for the acquisition of Gan Eurocourtage's marine and transport insurance contracts (excluding aviation and space) and related brokerage businesses, ...
Tags: Helvetia, insurance, European Commission, acquisition
UK’s Office of the Fair Trading (OFT) has directed the Competition Commission to probe the private motor insurance market in the country over allegations of unfair activities being carried out by insurers on motorists. Referring to ...
Tags: OFT, Competition Commission, motor insurance, insurance market
According to the government's climate change adviser, Australia is underusing its renewable energy sources with rooftop solar photovoltaic and wind having the potential to become the cheapest form of power for retail users by 2030 or ...
Tags: renewable energy sources, The Climate Commission, power generation
The National Transport Commission (NTC) has released its annual report for the 2011-12 financial year. NTC chief executive Nick Dimopoulos said the report highlights a productive year for the Commission, working with its partners on ...
Tags: National Transport Commission, annual report, productive year