Germany’s Allianz has reissued a bulletin confirming the increased capacity of its Global Risks unit available to cover faulty design, faulty material and faulty workmanship – inherent defects – for up to 12 years. “Allianz Global Risks offers some 40 …
A.M. Best Co. announced that it has withdrawn the financial strength rating of B- (Fair) and assigned an NR-3 rating (Rating Procedure Inapplicable) to Gerling Global Reinsurance Corporation of America (GGRCA) and its subsidiary, Constitution Insurance Company (CIC). Both companies …
The Philadelphia Insurance Companies announced that its website has won the “Flood Public Awareness award” at the National Flood Conference held in New Orleans. “The annual flood conference, held by The Federal Insurance and Mitigation Administration (FIMA), sponsors a public …
Bunker Hill Insurance Company, a new entrant to the Connecticut homeowners insurance market, announced that it is “open for business,” following the receipt of approval for its homeowners rates from the Connecticut Insurance Department. The company noted that “This marks …
The Connecticut-based Response Insurance Group of Companies, a direct writer of auto coverage, announced that it has signed a stock purchase agreement to acquire Cincinnati-based Worldwide Insurance Company and Worldwide Direct Auto Insurance Company from Great American Insurance Company, the …
The recent Professional Insurance Agents of New York’s Metropolitan Regional Awareness Program (MetroRAP) broke previous attendance records. Nearly 500 agents, company representatives, exhibitors and other New York insurance industry professionals turned out for the 11th annual Conference at the New …
Bermuda-based RenaissanceRe Holdings Ltd. doesn’t seem to have lost its touch. Prior to its appearance at conferences sponsored by the New York Society of Securities Analysts and Salomon Smith Barney this week, the company said that it expects to achieve …
A.M. Best Co. has affirmed the A (Excellent) financial strength ratings of Chicago-based Aon Corporation’s key insurance underwriting subsidiaries and removed the ratings from under review. The ratings were placed under review with negative implications following Aon’s decision to withdraw …
Atlanta’s Crawford & Company announced that fourth quarter 2002 revenues before reimbursements totaled $173.7 million, down from $178.1 million in the comparable 2001 period. Operating earnings (earnings before amortization of goodwill, net corporate interest and taxes) in the 2002 fourth …
The Kentucky Supreme Court, overturning a lower court ruling, voted 4 to 3 to maintain the longstanding exclusive remedy doctrine underpinning the state’s workers’ compensation system. The court’s decision in Reker v. Travelers Indemnity Company brought immediate praise from the …
