Jim Tedesco, 37, was charged on Tuesday morning with two counts of attempted first degree murder from a double shooting Monday at his east Asheville, N.C. business. Tedesco made his first court appearance Tuesday morning after being arrested by Asheville …
New York-based Advisen Ltd. has released an estimate that worldwide insurance and reinsurance losses related to the three major hurricanes that hit the United States this year would amount to $57.6 billion, making the cumulative catastrophe losses the largest on …
Oklahoma Senate Republican Leader Glenn Coffee, R-Oklahoma City, is calling for lawsuit and tax reform, as well as more workers’ compensation reform, to help jumpstart economic growth in the state. Coffee noted that Oklahoma’s population grew at a paltry 0.7 …
An Oklahoma judge recently denied a motion to move the trial of former state Insurance Commissioner Carroll Fisher out of Oklahoma City. Fisher’s attorney, Robert L. Wyatt IV, had argued in court filings that the trial should be moved to …
Louisiana residents whose Hurricane Katrina or Hurricane Rita insurance claims are in dispute will soon be offered a possible solution at no cost to them, according to the Louisiana Department of Insurance. Commissioner of Insurance Robert Wooley has established a …
Ken Livingstone, London’s high-profile mayor, told interviewers on BBC Radio 4 that threats from terrorist attacks in the U.K.’s capital persist, but are largely disorganized. He noted that the July 7 “attackers were all homegrown,” and, taking issue with Prime …
A.M. Best Co. announced that it has affirmed the financial strength ratings (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Bermuda-based Quanta Reinsurance Ltd. (Quanta Re) and its subsidiaries. Best said all the ratings have been …
Bermuda’s PXRE Group Ltd. has given details of its $250 million collateralized transaction with Atlantic & Western Re II Limited, a Cayman Island reinsurance company. The agreement is designed to provide coverage to PXRE for second event losses arising from …
Standard & Poor’s Rating Services has issued a timely bulletin, entitled “Credit FAQ: Rating The Reinsurance Startups.” The article discusses the criteria the rating agency uses in determining the creditworthiness of new companies and related entries into the insurance marketplace. …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Bermuda-based Evergreen Reinsurance Company, Ltd. (ERCL) with a positive outlook. “The rating reflects ERCL’s excellent capitalization, consistently strong operating performance, and its unique role …
