California-based InSure Vision Technologies (IVT) has entered into a multi-year contract with BidX.com, a web-based bidding information service, to provide integrated reporting of electronic bids to select state departments of transportation. BidX.com, an Info Tech, Inc. company, supplies the Bid …
Applied Insurance Research, Inc. (AIR), a catastrophe and weather risk modeling company, announced the assembly of a suite of products developed to meet the needs of corporate risk managers. The products, capitalizing on AIR’s databases of hazard and property information …
President Bush’s strong stance on the need for federal terrorism insurance legislation April 8 has won the praise of the Alliance of American Insurers. The President told a White House audience, that included business and labor leaders, that it would …
Enron officials are still seeking insurance money to cover legal defense costs stemming from the energy-giant’s bankruptcy fallout, according to the Associated Press. Their request to release money from AEGIS Insurance Co. was denied in late February by a U.S. …
In a recent statistical analysis, A.M. Best Co. released its preliminary 2001 financial results on the property/casualty industry, which reports that property and liability lines had significant new risk exposure in 2001. The result has been an acceleration of market …
Celaris Group Inc. a full-service insurance agency headquartered in Bowling Green, Ohio, has acquired Value Added Benefits Ltd., a wholesale insurance business headquartered in Cleveland, Ohio. Celaris, is a wholly-owned subsidiary of Sky Financial Group, Inc., an integrated financial services …
As part of an overall growth and diversification strategy, Indiana-based Sierra Software Technology Corporation has changed its name to InsuraTek Corporation. The company has also unveiled a new Web site at www.insuratek.com. The new Web site will incorporate information regarding …
A.M. Best announced that it has downgraded the financial strength rating to C++ (Marginal) from B+ (Very Good) of Realm National Insurance Company, New York, and has assigned it a negative outlook. “The rating action reflects Realm’s exposure to a …
Australia’s QBE Insurance group has completed a 20-year convertible debt issue of U.S. $250 million, which the company said would be used to pay off some existing bank loans and to strengthen its balance sheet. QBE, which actually writes over …
Swiss Re, the world’s second largest reinsurer, confirmed that it suffered a net loss of CHF 165 million ($98.64 million) in 2001, compared to 2000 net income of CHF 2.966 billion ($1.77 billion). The company indicated that despite the losses …
