Richard Clinton, president of Oakland Calif.-based EQECAT, a leading authority on extreme-risk modeling, announced an initiative aimed at comparing its models of the 2004 hurricane events for Florida exposure against the estimates generated by other models. “We are so confident …
The loss of life from yesterday’s train wreck in Japan has risen to 73. Over 450 were injured, and many remain in a serious condition. Rescue workers labored throughout the night to extract survivors from the mangled mass of metal …
Lexington Insurance Company, a member company of American International Group, announced the launch of “Outsourcing Protector”(SM), a new property insurance offering designed to help companies address the risks of domestic and overseas outsourcing. “Outsourcing Protector, an endorsement to Lexington’s multi-peril …
Allianz Global Risks, the industrial business unit of Germany’s Allianz, announced its intention to raise the division’s “activity and profile in Liability insurance.” In an on-line interview on the Allianz Website (www.allianz.com) Thomas Juette, Global Head of Liability Underwriting, discussed …
Standard & Poor’s Ratings Services announced that it has placed its “A-” insurer financial strength and long-term counterparty credit ratings on Taiwan-based Mingtai Fire & Marine Insurance Co. Ltd. on CreditWatch with positive implications. S&P also affirmed its “BBB-/A-3” counterparty …
California’s WCIRB has completed its quarterly report summarizing the most current insurer loss and premium experience as of Dec. 31, 2004. Among the highlights of the report are the following: The average statewide insurer rate per $100 of payroll for …
Lawrence Mennes and Stephen Vallender in association with Burnett Holdings, Inc. have announced they will form a new insurance broker -IMS Insurance Market Solutions based in Houston, Texas. IMS will be a full service, commercial lines wholesale broker offering access …
Sierra Health Services Inc. reported that income from continuing operations for the quarter ended March 31, 2005, was $28.6 million or $0.85 per diluted share, compared to $26.3 million or $0.75 per diluted share for the same period in 2004, …
The following statement is from California Insurance Commissioner John Garamendi in regards to today’s workers’ compensation pure premium rate hearing: “The information I received today is very disturbing. Statements from insurance industry representatives, injured workers, and the Workers’ Compensation Insurance …
Standard & Poor’s Ratings Services said Monday that it is keeping its ratings on American International Group Inc. (‘AA+/Watch Neg/A-1+’) and AIG’s subsidiaries on CreditWatch with negative implications, where they were placed on March 15. Recently, there has been increased …
