Japan’s Prime Minister, Junichiro Koizumi, suffered a serious setback in his plans to reform the country’s huge postal system, when the Senate rejected the proposals by a 125 to 108 margin. He immediately announced plans to hold a general election, …
Miami’s National Hurricane Center designated Tropical Storm Irene as the ninth named storm of the current season on Sunday, Aug. 7. It is the earliest date on record to see the appearance of 9 named storms. Irene is currently in …
Standard & Poor’s Ratings Services announced that it has revised the industry risk on the New Zealand nonlife insurance sector to “moderately low” from “moderate.” “This improvement places New Zealand alongside Australia & Japan as the countries with the best …
Norwich Union, the main U.K. operating company of the Aviva Group, announced that it has reviewed its legal expenses cover provided under shop and salon, office and surgery, pub restaurant and hotel, and self-employed policies. As a result the company …
Standard & Poor’s Ratings Services announced that it has placed its “BBB-” long-term counterparty credit and insurer financial strength ratings on Polish reinsurer Polskie Towarzystwo Reasekuracji S.A. (PTR) on CreditWatch with negative implications. “The CreditWatch placement follows the decision by …
This is the Association of California Insurance Companies special report on the status of significant insurance-related bills that are awaiting action by the Legislature. Lawmakers return from their month-long summer recess Aug. 15 and the following bills will be among …
The Property Casualty Insurers Association of American praised Gov. Frank Murkowski for signing into law legislation which will modernize and improve Alaska’s system for establishing rates for homeowners, auto and commercial insurance. Kenton Brine, PCI’s Northwestern Regional Manager, said the …
Willis Group Holdings has appointed Tim Kolojay as senior vice president within the Captive and Actuarial Practice based in Burlington, Vt. Kolojay joins from Insurance Industry Consultants, LLC in Atlanta, Ga., where he served as president. During his tenure, he …
A state Republican Party lawsuit seeking nearly $1 million from an insurance company that refused to cover the GOP after Democrats sued over partisan eavesdropping is frivolous, the insurer contends in a court filing. Union Insurance Co. has asked the …
Delaware Insurance Commissioner Matthew Denn wants to restrict insurers from canceling homeowners’ insurance policies because they have made a few claims and require insurers to more fully disclose to insureds whether they have coverage for floods, theft and replacement value …
