Connecticut sues S&P, Moody’s, claims ‘tainted ratings’
HARTFORD, Conn.—Connecticut Attorney General Richard Blumenthal on Wednesday filed a state lawsuit against ratings agencies Moody’s Investors Service and Standard & Poor’s Corp.
Bill would limit Medicare Secondary Payer fines
WASHINGTON—Legislation introduced in the U.S. House would cap penalties and set a three-year statute of limitations for failing to comply with reporting under Section 111 of the Medicare, Medicaid and SCHIP Extension Act.
Insurers oppose debt guarantee of state catastrophe cover
WASHINGTON—Insurer and reinsurer groups reiterated their opposition Wednesday to a bill that would have the federal government guarantee debt issued by eligible state catastrophe insurance programs that cover homeowners insurance.
Senate passes COBRA premium subsidy extension
WASHINGTON—The U.S. Senate approved tax legislation on a 62-36 vote Wednesday that would further extend COBRA health insurance premium subsidies.
French insurers to take hit from Xynthia: Moody’s
PARIS—The French insurance industry is expected to suffer “significant” losses as a result of Windstorm Xynthia, Moody’s Investors Services said Wednesday, adding that the costs of the storm will be considerably less for the...
Quake, windstorm losses pressuring Munich Re: CFO
MUNICH—Catastrophe losses estimated at €500 million ($681.1 million) from the earthquake in Chile and Windstorm Xynthia in Europe will pressure Munich Reinsurance Co.
