The Florida Office of Insurance Regulation has withdrawn proposed state-specific requirements regarding the accounting treatment of finite reinsurance, making it the second state in three weeks to do so. The office has opted instead to implement the uniform standards that …
A Tampa lawyer and the owner of a medical center have been arrested and charged in an insurance scam after authorities said the lawyer altered his marriage certificate to fraudulently include the center’s owner and her children on his health …
Tropical storm Katrina was 35 miles south of Clarksville, Tenn. on Tuesday morning, moving north-northeast at 18 mph. Predictions by the National Hurricane Center indicate it should take a turn toward the northeast, gain speed and bring heavy rain and …
Another fatal building fire erupted in Paris on Monday night, Aug. 29, claiming 7 lives and injuring 14, three seriously. The fire in the French capital’s Marais District of the 3rd Arrondissement, broke out around 10:00 p.m. local time in …
Although they are still relatively rare, compared to the number of commercial property policies in force, a number of cat bonds covering specific property risks were briefly threatened by Hurricane Katrina. However, according to a statement from Standard & Poor’s, …
Reports from Reuters, the Financial Times and other sources indicate that Equitas, the Lloyd’s runoff vehicle, will announce that it is set to pay 167 million pounds ($300 million) to settle six additional asbestos claims. Equitas has apparently reached settlement …
France’s SCOR Group announced that it has obtained permission from the Indian regulatory authority (IRDA) to open a representative office in India, “with a view to strengthening and developing its activities in the Non-Life reinsurance field.” SCOR believes there is …
Hurricane Katrina likely will be the largest insured loss from a single event since the terrorist attacks of Sept. 11, 2001 and the largest U.S. hurricane loss since Hurricane Andrew in 1992, Fitch Ratings said Monday. What’s more, the magnitude …
The National Hurricane Center has downgraded Katrina to a tropical storm in the last few hours and issued warnings from Lake Ponchartrain and the mouth of the Pearl River, eastward to the Alabama/Florida border. All other warnings have been discontinued …
Nationwide Financial Services Inc. plans to redeem a series of preferred securities that were scheduled to come due in 2028. Nationwide Financial will pay $200 million to retire the securities. It will take a one-time charge of about $14 million …
