Allstate Insurance Co. has announced the opening of new offices in Newark, Del., and Middletown, Del.

Allstate announces opening of two new Delaware agencies originally reported at IFAwebnews.

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Delaware Licenses 'World's First' Serial Entity Captive Insurance News Net (press release) He said Amplitude Reinsurance Company of Delaware LLC is a special purpose LLC for medical professional liability insurance. "I took a look at it ... and ... and more »

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Delaware’s insurance commissioner is lauding her state’s efforts to add eight new captive insurers in the last six months of 2009, resulting in a 20% increase in the number of captives from a year earlier.

Delaware reports 20% growth in captive insurers in 2009 originally reported at IFAwebnews.

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Noting the company’s diversified business profile, large excess surplus and solid-risk adjusted capitalization, A.M. Best has affirmed the ratings of The Penn Mutual Life Insurance Co. and its Delaware-based subsidiary.

Penn Mutual, subsidiary have ratings affirmed by A.M. Best originally reported at IFAwebnews.

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Citing its privately held parent company’s “lack of financial flexibility,” A.M. Best has downgraded the ratings of Wayne, Pa.-based Regis Insurance Co.

Parent company’s financial status drops rating of Pa.-based insurer originally reported at IFAwebnews.

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Guardian Introduces Enhanced Awards Program for Third-Party Administrators PR Newswire (press release) The Guardian Insurance & Annuity Company, Inc., a Delaware corporation that is a wholly-owned subsidiary of Guardian, issues The Guardian Choice(SM) and The ... and more »

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Since the Senate health care bill has passed, I have watched health care stocks and mutual funds soar — proof that the bill in its current form was written by industry lobbyists. In order to prevent needless deaths of the uninsured and be ...

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NOWAK v. UNITED SERVICES AUTOMOBILE ASSOCIATION Leagle, Inc. [ 18 ] The District Court held that although the defendants were eligible for the expanded Delaware no-fault benefits, the plaintiff's insurance company was ...

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Get the latest news PR-inside.com (press release) ... a Delaware corporation, Jefferson National Life Insurance Company, a Texas insurance company and a wholly-owned subsidiary of JNF, JNL Bermuda LLC, ... and more »

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A partnership forged between Insurance Claim Contractor Group and Restoreproof, the newest division of Scottsdale, Ariz.-based Buildproof, has resulted in new web-based solutions for mid-Atlantic contractors to manage claims.

Web-based claims project payment solution introduced for contractors originally reported at IFAwebnews.

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Central Ohio cities band together to cut insurance costs Delaware News Five cities in the region currently are part of the Central Ohio Risk Management Association liability insurance pool. The pool was founded in 1997 by ... and more »

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The Service Insurance Co. of West Orange, N.J., was recently admitted in New Hampshire, making it the sixth surety market where the company does business.

Service Insurance gets nod to write policies in New Hampshire originally reported at IFAwebnews.com.

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Another step to lower the cost of health care might be to establish free clinics for the uninsured. These could be run by physicians who might earn tax credits for doing this or physicians looking to pay off their student loans by working these ...

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An insurance industry trade group representing agents in Delaware, Maryland and Pennsylvania has expanded a tool to help its members better protect their books of business and its value.

IA&B expands toolkit to help owners protect book, agency value originally reported at IFAwebnews.com.

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Pop quiz: the law of which jurisdiction should govern a coverage dispute arising under D&O insurance policies issued by U.S-domiciled insurers to an NYSE company incorporated in Delaware with its headquarters in Oregon? If you find the answer "British Columbia" as surprising as I do, read on. The court decision discussed below could have important implications for the typical U.S. D&O policy, with its extension of "worldwide coverage," particularly as both commerce and litigation become increasingly global.

 

Background

Now-bankrupt forest products company Pope and Talbot, Inc. was incorporated in Delaware and had its corporate headquarters in Portland, Oregon. Until its bankruptcy, its shares traded on the NYSE. Pope and Talbot conducted business through several operating subsidiaries, the largest of which was P&T Ltd., a Canadian federally chartered company with its principal operations in British Columbia. The bulk of Pope and Talbot’s operations ran through P&T Ltd. and the bulk of Pope and Talbot’s employees were employed by P&T Ltd.

 

P&T Ltd. is now in receivership. PricewaterhouseCoopers is the receiver for P&T Ltd. PWC, in its role as receiver, has instituted an action in British Columbia seeking a judicial declaration of coverage under the parent company’s D&O insurance policies for claims against P&T Ltd.’s directors and officers brought by former P&T Ltd

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