New York insurance officials, fearful Congress will not renew the Terrorism Risk Insurance Act before it expires at the end of the year, are working on backup plans of their own. New York officials have been in touch with peers …
William Ashmore, executive director of Alabama’s State Employees Insurance Board, became the highest paid administrator, among similar administrators in 12 Southeastern states, when the state Personnel Board voted 3-2 to approve raises requested by Jim Martin, Alabama Finance Director. Ashmore’s …
The Trusted Choice national television advertising campaign ended Sept. 25, but as of Sept. 26, more than 100 radio stations across Georgia began to air Trusted Choice radio commercials. According to an Independent Insurance Agents of Georgia spokesperson, the radio …
A series of educational events, being sponsored by the Independent Insurance Agents of Georgia to enable members to meet new state continuing education requirements have been scheduled in October. A new Georgia Insurance Department rule, enacted last year, requires Georgia …
Legislative changes effecting property insurance that took place this year in the Florida Legislature were discussed by Keri Rayborn, Rayborn Consultants, and Ron Villella, PIA’s government affairs director, during a “Legislative Update” sponsored by the Professional Insurance Agents of Florida …
Standard & Poor’s Rating Services announced that it has lowered its counterparty credit and financial strength ratings on Bermuda-based PXRE Reinsurance Ltd. and U.S.-based PXRE Reinsurance Co. to “A-” from “A”. S&P also lowered its counterparty credit and senior unsecured …
The Association of British Insurers (ABI) has called on the Government to delay implementation of an EU court ruling that would impose value added taxes (VAT) on services outsourced beyond EU borders. The ABI estimates that the cost to insurers …
Bermuda-based Endurance Specialty Holdings Ltd. announced that its initial estimates of losses, net of reinsurance, reinstatement premiums, and tax benefits related to Hurricane Rita would be approximately $85 million. The company said gross losses were estimated at approximately $95 million. …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B+” (Very Good) and the issuer credit rating of “bbb-” of Poland’s Polskie Towarzystwo Reasekuracji S.A. (Polish Re) with a stable outlook. “The ratings reflect the good …
Hilb Rogal & Hobbs Company, the large insurance and risk management intermediary based in Richmoind, Va., has appointed F. Michael Crowley to the position of president. In this role, Crowley will have overall responsibility for profit and loss, revenue growth, …
