To help contain the expense of cleanup activities at an unused army barrack, an environmental insurance program is providing a financial cushion and liability protection as part of a fixed cost remediation agreement. ECS, an XL Capital company and a …
Farmers Insurance Group of Cos. recently applied for a 6.9 percent premium increase for homeowners insurance in the state of California. According to the Los Angeles Times Mary Flynn, a spokesperson for Farmers, the request was due to rising costs …
California State insurance regulators announced that insurance companies must offer terrorism coverage even though Congress has failed to provide an essential backstop for insurers in the event of future terrorism acts. “The National Association of Independent Insurers (NAII) is disappointed …
The Board of Directors of ACORD has confirmed Carl L. Gaspar, as the Chair and Marilyn Norman as Chair Elect for 2002. “This is a huge honor and culminates a career-long interest in agency automation and involvement with ACORD”, said …
Challenges to the use of credit scoring in underwriting and rating, and consumer privacy matters related to the Gramm/Leach/Bliley Act will top the insurance issues considered by state legislatures in 2002, according to a survey of National Association of Independent …
Several commercial insurers will cut coverage for losses caused by acts of terror, allowing 2001 policies to go unrenewed for 2002, Standard & Poor’s reported. It added that the withdrawal from the market will spread beyond property and aviation insurance …
Online insurance certification provider, NetStudy, based in Northbrook, Ill., announced a partnership with Professional Training Services Inc. (PTS), a local company with a specialty in professional designations for the insurance industry. As a result of the merger, NetStudy will add …
International insurance brokerage group, Assurex International, headquartered in Columbus, Ohio, announced the appointment of new directors and officers to its 2002 board of directors. Elected to a three-year board term is Assurex Partner Dan Koch of The Harry A. Koch …
RenaissanceRe Holdings confirmed the sale of $50 million worth of its shares in DaVinci Re to Max Re (See IJ Website Jan.9) and $25 million to “another investor;” it also indicated that it expects to raise an additional $25 million …
New York’s Longitude, Inc., a leading provider of derivatives and risk management products, has concluded an agreement with Swiss Re “for the development of new weather risk management products” using the company’s “Parimutuel Digital Call Auction ™ (PDCA{tm}) technology.” Longitude …
