Bermuda’s ACE Ltd. became one of the first insurers, but certainly not the last, to issue a profit warning on fourth quarter earnings in 2001. Yesterday’s announcement indicated that it expected fourth quarter net operating incometo fall below expectations due …
Bermuda’s Max Re Capital Ltd. announced that it has purchased $50 million worth of shares in DaVinci Re Holdings Ltd, and its operating subsidiary DaVinci Reinsurance Ltd. (DaVinci Re), the new Bermuda-based property catastrophe reinsurer, managed by Renaissance Underwriting Managers, …
AIG’s principal international property-casualty division, American International Underwriters (AIU) announced the launch of www.aiu.com, “a comprehensive Internet resource designed to provide AIU’s consumer, commercial clients and risk managers with online transactional features such as claims reporting and access to local …
Surviving in a crisis environment will be the theme of a one-day seminar sponsored by the Insurance Marketing Communication Association (IMCA) tomorrow, Jan. 10, at the Philadelphia International Airport Marriott. “William Bailey, special counsel to the Insurance Information Institute, will …
GE Reinsurance Corp. has reportedly demanded that Pennsylvania-based Harleysville Group Inc., and its parent company Harleysville Mutual, repay some $42 million in losses incurred by GE, stemming from an agreement made in 1999 covering automobile policies placed by a managing …
New York State Insurance Department Superintendent Gregory V. Serio has reportedly rejected requests from the insurance community and the NAIC to permit the endorsement of broad “terrorist exclusion” provisions in commercial real estate policies, which would have limited losses to …
Woodruff-Sawyer & Co., a San Francisco-based insurance brokerage, announced the opening of its new venture, Woodruff-Sawyer Oregon Inc., located in downtown Portland. Woodruff-Sawyer has been serving the risk management and employee benefits needs of the Oregon market and determined it …
Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division, filed criminal charges against three Santa Rosa residents, charging them with six counts of insurance fraud and three counts of attempted grand theft. Earl R. Small, 47, …
According to a Jan. 7 Los Angeles Times article, California has refused to allow insurers to adopt terrorism exclusion language, a move which has already been by approximately 20 other states in the wake of Sept. 11. The Times quoted …
SCSI, a producer of real-time information systems for data access and management, and Vitria, a collaboration platform and collaborative applications provider, announced a partnership to serve the property and casualty insurance vertical market. The combination of Vitria BusinessWare® and BIAS™ …
