Fairfax Financial’s Quarterly Loss Widens on Cat Claims

Fairfax Financial Holdings, the property and casualty insurer run by investment guru Prem Watsa, said on Thursday that its fourth-quarter loss widened by 56 percent due to catastrophe claims and losses on the company’s equity hedges. The Toronto-based company lost $771.5 million, or $38.47 a share, in the fourth quarter of 2011

California Lawmaker Introduces Claim Information Control Bill Over Insolvent Insurers

A California lawmaker on Friday introduced a bill to give greater control of claim information held by insolvent companies over to policyholders.

Auto Insurance: How to Choose The Ideal One

If you own a car, it will be definetely smart for you to insure it. Bad details such as avenue accidents can occur unexpectedly and you definitely do not want to invest a riches repairing the damage on your car

Carlyle Group Drops Controversial Arbitration Requirement for Shareholders

Carlyle Group LP, a giant private equity firm that has filed for an initial public offering, has dropped a controversial effort to require its future shareholders to resolve claims through arbitration rather than in court. The Washington, D.C.-based firm, with $148 billion of assets under management, said on Friday it made the change after consulting with the U.S. Securities and Exchange Commission, which must approve any plans to go public, as well as investors and other interested parties

C.M. Meiers Brokerage in Southern California on Trustee’s Auction Block

Woodland Hills, Calif.-based C.M. Meiers Co.

Best Affirms American Service Pool Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of ‘B’ (Fair) and issuer credit ratings (ICR) of “bb” of Illinois-based American Country Insurance Company and American Service Insurance Company, Inc.

Best Revises AIG and Subs Outlook to Stable; Affirms Ratings

A.M. Best Co

Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings

In connection with its revision of its outlook on AIG , A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance Group and its members and the Lexington Insurance Pool and its members, headquartered in Boston, Mass.

California Insurance Commissioner, Insurers Settle on Iran Investments

California Insurance Commissioner Dave Jones and a group of insurers have settled litigation over insurer investments in companies doing business in Iran, it was announced on Friday. The terms of the settlement permit the Jones to “maintain a public list of businesses involved in volatile sectors of the Iranian economy,” according to a statement issued by Jones’ office. The settlement also prevents Jones from declaring the investments of insurers in question to be declared non-admitted

Florida Lawmakers Reject Bad-Faith Reform Bill

Business groups in Florida saw their efforts to reform the state’s bad-faith law end suddenly for the year after a legislative committee voted by a one vote margin to kill a bill that would have placed additional restrictions on lawsuits.

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