The Bermuda-based PXRE Group announced third quarter results, which were impacted by the Florida hurricanes. The net loss for the period was $73.2 million compared to net income of $23.7 million in the third quarter of 2003. Net operating loss …
The U.K.’s Chartered Insurance Institute (CII) announced the opening of its new London Market Faculty at a special reception held at London’s newest landmark – Swiss Re’s London headquarters building, popularly known as “The Gherkin.” “More than 250 of the …
Dublin-based Research and announced the addition of Marine, Aviation and Transport Insurance 2003 to their offering. The report “gives an indispensable overview of the global market in these sectors, containing “data from a combination of industry sources, FSA Returns and …
French reinsurer SCOR Group recently approved the company’s financial results for the nine months ended Sep. 30, 2004. SCOR has been through some rough times, but the results, which included 54.3 million euro ($70 million) in consolidated net income, compared …
A.M. Best Co. announced that it has placed the financial strength rating of “A-” (Excellent) of Omaha Property and Casualty Insurance Company (OPAC) (Omaha, Neb) under review with developing implications. “The under review status reflects the November 1, 2004, announcement …
The Coalition for Affordable and Reliable Healthcare (CARH) has issued a resounding call to action in the wake of this week’s election results. Medical liability reform gained momentum on Tuesday with a successful ballot measure in Nevada, where voters chose …
A Brick Township, New Jersey man has been sentenced to 30 months in federal prison for committing mail fraud while fraudulently inducing people to invest in his companies that purported to market and sell “hurricane straps” to hold down homes, …
The AIG Companies have launched LexHomeland Protector, a comprehensive terrorism insurance portfolio designed to help protect businesses against terrorism risks, including losses arising from biological and chemical attacks. The portfolio introduces LexBioChem Shield, a new biochemical terrorism endorsement available to …
“We are Main Street agents. This problem was created on Wall Street.” A Connecticut independent agent leader hopes the reality behind those words will help protect independent agents from being grouped with large national brokers now under scrutiny across the …
In the wake of the ongoing insurance brokerage probe involving bid rigging and incentive payments, Rhode Island Secretary of State Matt Brown is proposing legislation to prohibit insurance industry “incentive fees” and require full disclosure of all fee arrangements with …
