In what lawyers say is a precedent-setting decision, a New Jersey court has ruled that a claims-made insurance policy that did not include retroactive coverage does not violate public policy and is enforceable. An insurance company had offered a home …
New York City was dismissed from a federal lawsuit alleging that it was negligent in the collapse of a building at the World Trade Center that crumbled hours after the twin towers fell. Judge Alvin K. Hellerstein dismissed the city …
The U.K.-based insurer Co-operative Financial Services (CFS) has announced the creation of CIS General Insurance Ltd. (CISGIL) which will insure all new and renewing Co-operative Insurance Society (CIS) motor, home and commercial products with effect from 15 January 2006. “Whilst …
Specialist intermediary Seacurus and Lloyd’s broker Cooper Gay have launched “CrewSEACURE,” a new type of marine cover underwritten within Lloyd’s, which addressees the rising instances of piracy, especially in Southeast Asia (See IJ Website Jan. 28, 2004). The brokers have …
68.6 percent of the shareholders in Swedish-based Skandia insurer have so far accepted the proposal from South Africa’s Old Mutual to acquire the company, making the offer a qualified success. Old Mutual has also announced that it has extended the …
Lloyd’s has launched a new three-year plan to keep the London market healthy in the face of growing foreign competition, especially from Bermuda. The plan, called the Optimal Platform, outlines a “package of benefits that businesses choosing to operate in …
The Big “I” Katrina Relief Fund has awarded grants to more than 70 applicants from the Gulf Coast insurance community. With more than $400,000 in the fund from more than 470 contributors, the Big “I” Katrina Relief Fund grants have …
The Kansas City Star reported today that the proposed $1.1 billion sale of Universal Underwriters Insurance Co. has fallen through following a regulatory examination that may mandate refunds to customers in the amount of tens of millions of dollars. Zurich …
Gary A. Hollederer has been elected president of the Professional Insurance Wholesalers Association of New York Inc. (PIWA) for 2005 through 2007. This not for profit association works with legislators and the insurance department in matters affecting the excess and …
A key legislative committee this week amended and passed legislation in Washington that is designed to assist consumers injured in intentional “road rage” collisions – and protect insurers against auto insurance fraud, reports Kenton Brine, northwest regional manager for the …
