Ever wonder why independent insurance agents are so effective and respected in legislative circles? Look no further than the recent Legislative Day sponsored by the Independent Insurance Agents and Brokers of New York Inc. on Feb. 7 in Albany. This …
Upon completion of the GEIS and Swiss Re merger, previously announced in November 2005, Standard & Poor’s expects the counterparty credit and financial strength ratings on ERC and related operating (re)insurance affiliates to be raised by one notch to ‘A+’, …
Although Western Europe has been preparing for its arrival for some time, the news that wild birds, infected with the deadly H5N1 virus, have been found in Germany and France still comes as a shock. On a visit to the …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Qatar-based underwriter Qatar Insurance Co. S.A.Q. (QIC) to “A” from “A-” and assigned a stable outlook. “The upgrade is driven …
Standard & Poor’s Ratings Services and Fitch Ratings joined A.M. Best (See related article) in lowering their ratings on Bermuda-based PXRE Reinsurance Ltd. (PXRE Bermuda) and U.S.-based PXRE Reinsurance Co. (collectively, PXRE). S&P lowered its counterparty credit and financial strength …
Rescue workers are continuing their efforts to find survivors of the landslide that buried the village of Guinsaugon, in the town of St. Bernard on the Philippine Island of Leyte last Friday, Feb. 17. 10 days of torrential rains have …
A state workers’ union is praising a Nevada Supreme Court ruling that upheld claims of 40 former state employees who sought more pension credits because their jobs were privatized. The State of Nevada Employees Association added that the high court’s …
Utah’s high court upheld a decision by lawmakers to roll back state employee retirement benefits, and took offense at what it called threats of retaliation if the decision didn’t go legislators’ way. In a 5-0 decision, the Utah Supreme Court …
The insurance industry came out strongly against a measure that would require them to disclose claims, payouts and rates, telling lawmakers a plan to increase regulation of their industry would drive up costs and force some companies to stop selling …
The creation of a National Catastrophe Insurance Program, senior protection provisions in long-term care insurance policies, uniformity in electronic filing and providing viable recommendations for Florida’s property insurance top a list of legislative priorities for 2006 released by the Office …
