AIR Worldwide Corporation (AIR), a provider in catastrophe modeling and weather risk management, has released its ClimateCast™ forecasts through March 2003, encompassing the heart of the winter season. The heating season forecast from November to March shows an increased probability …
A broad-based group of insurers, reinsurers, and agents and brokers have applauded the White House’s proposed development of a groundbreaking comprehensive national strategy to secure cyberspace. The strategy was to be unveiled at an event featuring Richard Clarke, Special Advisor …
A spokesman for Larry Silverstein, issued a response to a recent flurry of reportedly erroneous allegations that Silverstein and Silverstein Properties may possibly file errors and omissions claims against London insurance broker Willis Group Holdings involving its placement of property …
One report spotlights the crisis among doctors in North-eastern Ohio, who are refusing to deliver babies due to higher medical malpractice insurance premiums; another report from Detroit says that home owners insurance rates are going to rise an average of …
The Professional Independent Insurance Agents of Illinois (PIIAI) announced that it will host its Annual Convention on October 2-4 at the Crowne Plaza in Springfield, Ill, featuring continuing education classes and one of the industry’s largest trade shows. “The event …
To no one’s surprise shareholders of Italy’s Societa Assicuratrice Industriale (SAI) have approved a merger with rival insurer La Fondiaria SpA which will create Italy’s largest p/c insurer and third-largest insurer overall. SAI has been seeking control of la Fondiaria …
AXIS Specialty Limited, the newly formed Bermuda-based insurer, announced that Michael A. Butt has been elected as a member and as Chairman of the company’s Board of Directors, and that Maurice Keane and Mr. Edward J. Kelly, III were also …
Moody’s Investors Service announced that has downgraded Munich Re’s insurance financial strength rating from the highest possible ‘Aaa’ to its next highest category ‘Aa1’ due to the ongoing erosion of values in the capital markets. The rating agency stressed that …
Trenwick Group Ltd. announced that it has entered into an agreement with Berkshire Hathaway to increase the total premium capacity of Trenwick Managing Agents’ Syndicate 839 at Lloyd’s for the 2002 year of account to $512 million. Berkshire Hathaway, the …
Credit Suisse (CS), the parent company of U.S. investment bank Credit Suisse First Boston (CSFB) and the Winterthur Group, has ousted its Chairman and CEO Lukas Mühlemann, following a number of negative developments. Mühlemann, the former Chairman and CEO of …
