A spokesperson for the New Jersey Department of Insurance confirmed that United Risk Management Services, a managing general agency headquartered in New Jersey, is under investigation by that department for issues involving premiums, surplus lines tax and illegal fees. According …
A spokesperson for the New Jersey Department of Insurance confirmed that United Risk Management Services, a managing general agency headquartered in New Jersey, is under investigation by that department for issues involving premiums, surplus lines tax and illegal fees. According …
“Too many of us believe that the insurance market is dictated to by the insurance cycle.” Those were the words of Julian James, director of Worldwide Markets at Lloyd’s of London. James spoke before a group of insurers and reinsurers …
Trizec Properties, Inc., which currently manages leasing at Chicago’s Sears Tower, and is scheduled to take over control of the 110-story building next January, is reportedly having second thoughts about the deal due primarily to the buildings high profile “trophy …
Indianapolis-based specialty insurer Baldwin & Lyons (B&C) announced that third quarter operating income, which excludes capital gains/losses, were $6.1 million, its highest quarterly return ever, reaching 52 cents per share, in comparison to an operating loss of $8.9 million, or …
Fitch Ratings announced that it will maintain its ‘A+’ insurer financial strength (IFS) rating of SCOR Group, and the ‘A’ Long-term and the ‘F1’ Short-term ratings of SCOR, but will keep the group on “Rating Watch Negative.” The bulletin noted …
inreon, the Internet-based reinsurance trading platform, established by Swiss Re and Munich Re, announced that it has received certification for its implementation of data standards for facultative reinsurance placement from ACORD, the New York-based industry standards body. This enables members …
One of Bermuda’s newest insurers, Platinum Underwriters Holdings Ltd., finally succeeded in bringing its long delayed initial public share offering to market, with an opening price of $23.50 per share for the 30.04 million it’s selling, which will raise $675.9 …
Germany’s newly reelected government has reportedly asked the European Commission (EC) for permission to extend emergency terrorist risk coverage to the country’s airlines until the end of the year. The EC announced last August, when it granted a further extension …
Bermuda-based Allied World Assurance Holdings, Ltd. announced that the company has been granted a license to operate in Ireland and has commenced business with the opening of a new office in Dublin. The bulletin explained that Dublin will serve as …
