Boston-based AIR Worldwide, which is now a subsidiary group within the ISO, announced the release of the “AIR Terrorism Loss Estimation Model.” “The new catastrophe model, the first commercially available probabilistic model of its kind, can estimate the financial impact …
SCOR, France’s largest reinsurer, reported that its 1st half net income had dropped 58 percent to € 21 million* from € 50 million* in the same period last year, due to the now familiar problem of declining equity values. The …
16 leading insurance companies, including Munich Re, Swiss Re and Allianz, announced the foundation of “Extremus,” a jointly owned insurance vehicle which will provide excess coverage for losses caused by terrorism. With headquarters in Cologne Extremus will insure German companies …
Assurances Generales de France (AGF), the French subsidiary of Germany’s Allianz, announced 1st half net income of €364 million*, a 1.4 percent increase over the same period last year, despite taking a €333 million* charge for the decline in equity …
The nation’s property and casualty insurers reported $8.47 billion in net claims (1) arising from the Sept. 11 terrorist attacks, according to research by Weiss Ratings Inc. Two groups of insurance companies, Berkshire-Hathaway and Hartford Fire & Casualty each had …
Loss control specialists at the Chubb Group of Insurance Companies recently issued statements warning companies to carefully evaluate security risks for potential building sites before breaking ground. “From a site selection standpoint, you can better manage your loss potential through …
ACE Risk Management (ARM), part of ACE USA, has created a new unit, ARM Custom Casualty. The ARM Custom Casualty unit will specialize in general and product liability coverages for insureds with challenging exposures. In addition to providing general and …
Netvion Inc., a network management solutions firm, announced that EMC Insurance Companies has selected Netvion Galileo to securely manage their Cisco Secure PIX Firewalls. The Netvion Galileo application integrates with and enables EMC’s network management tool, HP OpenView Network Node …
New Jersey Banking and Insurance Commissioner Holly Bakke released a statement regarding pending implementation of the state’s “Last Chance” program, which will soon offer uninsured motorists an opportunity to get legal by waiving certain surcharges imposed on drivers who have …
The Chubb Group of Insurance Companies is advising its business clients to install cargo security plans to cover their entire supply chains to reduce exposures to terrorism risks. “Not a single company can afford to become complacent just because 12 …
