The Property Casualty Insurers Association of America has issued a bulletin pointing to a weekend of destructive storms in the Midwest, as proof of the “need for an immediate reauthorization of the National Flood Insurance Program (NFIP).” The storms and …
The AIG Companies announced the implementation of “iClaims,” described as “a document management imaging technology that electronically scans and routes all claim documents to the appropriate specialist, in their Primary Claims’ workers’ compensation offices.” The technology expedites claims management using …
Anthem Blue Cross and Blue Shield of Maine has emerged as a possible sole bidder to provide coverage under Maine’s Dirigo Health Program. But Anthem, the only one of five insurance companies that expressed an interest in bidding for the …
Standard & Poor’s Ratings Services has issued a report on the unconsolidated financial results of Japan’s 10 major non-life insurers for fiscal 2003 (ended March 31, 2004), indicating that they are “within its expectations and will not affect its ratings …
The American Insurance Association has issued a bulletin calling the recently concluded free trade agreement with Bahrain “an important step forward in free market interaction” between the U.S. and the Gulf State. The AIA praised the United States Trade Representative …
Standard & Poor’s Ratings Services announced that it has affirmed its ‘A+’ counterparty credit and financial strength ratings on Australia’s QBE Reinsurance Corp. (QBE Re) and QBE Insurance Corp. (QBEIC). S&P noted that the ratings of both companies are based …
Montpelier Re Holdings Ltd. announced that it has entered into a $450 million credit agreement with a syndicate of lenders. “The agreement is a three-year secured facility that allows Montpelier to issue up to $450 million in letters of credit,” …
A.M. Best Co. announced that it has affirmed the financial strength rating of” B++” (Very Good) of Germany’s Schwarzmeer und Ostsee Versicherungs- (Sovag) ). The outlook remains stable. “The rating reflects Sovag’s consistent and selective underwriting, resulting in a relatively …
Bermuda’s ACE Limited announced that its Board of Directors of has appointed Robert M. Hernandez as “Lead Director.” The announcement indicated that this “newly-created position recognizes the responsibilities Mr. Hernandez has assumed while previously serving as Chairman of the Nominating …
Vermont Gov. James Douglas (R) has signed important workers’ compensation reform legislation (H. 632) supported by the insurance industry including the American Insurance Association (AIA). The new law reduces the statute of limitations for filing a claim from six years …
