The American Academy of Actuaries disclosed that a future large terrorist attack in New York City could result in $778 billion in insured losses. Speaking at the National Association of Insurance Commissioners public hearing on “Terrorism Insurance Matters,” Michael McCarter, …
Resolving conflict in the workplace will be the topic presented by Susan Granata, president of the Florida SunCoast Chapter of the Chartered Property and Casualty Underwriters during the group’s April 17 meeting in Tampa, Fla. Granata, who is director of …
A Pennsylvania federal court has upheld a $7.9 million award against an insurer for its bad faith in failing to offer plaintiffs the full limits of the policy and for assigning one lawyer to represent two of its insureds in …
Three new national account representatives Michael Behan, William Schmidt and Mark have joined Crawford Integrated Services in Atlanta. Behan joined Crawford in 2003 as a workers’ compensation adjuster in Kenner, La. Prior to joining Crawford, Behan was the chief executive …
Declaring the Terrorism Risk Insurance Act (TRIA) “an essential policyholder protection,” Edmund F. (Ted) Kelly, Liberty Mutual Group chairman, president and CEO, this week urged the National Association of Insurance Commissioners and the President’s Working Group on Financial Markets to …
After revising a bill to extend the Florida no-fault auto insurance system to remove a proposed medical fee schedule, the Senate has passed it on to the Healthcare Committee for further consideration. Members of the Florida Independent Insurance Agents attending …
An article published in Standard & Poor’s Ratings Direct stresses that “financial flexibility continues to be an extremely important rating factor.” The publication, entitled “More Frequent Catastrophes Could Undermine Reinsurers’ Access To The Capital Markets,” notes that “financial flexibility is …
Standard & Poor’s Ratings Services announced that it has assigned its “BBB+” long-term counterparty credit and insurer financial strength ratings to Dongbu Insurance Co. Ltd., “reflecting its solid market position, strong capitalization, and good operating performance.” The outlook on the …
Standard & Poor’s Ratings Services announced that it has assigned its “B-” insurer financial strength and counterparty credit rating to New Zealand-based start-up nonlife insurance company Western Pacific Insurance Ltd. (WPIL). The outlook is stable. “WPIL has identified niche markets …
A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to Luxembourg-based Casiopea Re S.A., the reinsurance captive of Spanish communications provider Telefonica S.A. The outlook on …
