Bermuda’s PartnerRe, which already announced estimated net losses from the Sept.11 attacks of around $400 million, announced additional losses of around $25 million, and said it would report a third quarter operating loss of between $6.65 and $6.75 per share. …
Lloyd’s confirmed earlier reports (See IJ Website Oct. 26) that it has reached an agreement with the New York State Insurance Department which provides for the funding of the reinsurance trust that the NYSID administers at 60 percent of the …
HCC Insurance Holdings announced that it has completed the acquisition of Marshall Rattner, Inc., the parent company of Mt. Kisco, NY-based Professional Indemnity Agency, Inc. The agency focuses on several specialty lines, including Kidnap and Ransom coverage, Errors and Omissions …
Pennsylvania’s Supreme Court has affirmed a lower court judgment reinstating a verdict in favor of the Home Insurance Co. and certain London Market Insurers, voiding the policy of the Rohm & Haas Company, covering the cleanup of two waste sites, …
The downward trend continued last year: the number of California workers killed on the job was the lowest since 1992 when the Department of Industrial Relations’ Division of Labor Statistics and Research (DLSR) published its findings in the first U.S. …
A proposal to establish a federal terrorism reinsurance program offered by the Consumer Federation of America (CFA) is based on faulty assumptions and wishful thinking, according to the National Association of Independent Insurers (NAII). “The CFA’s proposal assumes that the …
In testimony submitted on Capitol Hill, the Independent Insurance Agents of America (IIAA) strongly urged Congress to pass legislation to remedy the availability of terrorism reinsurance in the wake of the Sept. 11 tragedies. IIAA submitted testimony for yesterday’s House …
According to the recently released third-quarter Commercial Insurance Market Index — reflecting market observations of the largest commercial insurance brokers across the nation — commercial insurance premium rates increased last quarter for all account sizes and across all property/casualty lines. …
A proposed change in the laws governing insurer payments to Michigan’s Second Injury Fund would not reduce benefits for injured workers, while improving the overall business climate of the state, according to the American Insurance Association (AIA). Senator Bill Bullard …
According to a report from China’s official Xinhua News Agency, monitored by the BBC, eight insurance companies have received approvals from the Chinese government to begin operations, and/or to expand current operations. The report lists subsidiaries of Germany’s Gerling, Allianza …
