A federal appeals court in Jackson has tossed out one of the state of Mississippi’s theories that the Vatican was connected to the fraud scheme of financier Martin Frankel. State Insurance Commissioner George Dale sued the Vatican in 2003, claiming …
Fitch Ratings announced that it has affirmed Swiss-based Converium AG’s Insurer Financial Strength “BBB-” rating and has removed it from Rating Watch Negative (RWN) on which it had been placed since November 4, 2005. Fitch also affirmed other ratings within …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of the U.K.’s Royal & Sun Alliance Insurance Group plc and its rated subsidiaries. Best has also …
Bermuda-based Montpelier Re Holdings Ltd. announced that Christopher L. Harris has been appointed Chief Underwriting & Risk Officer of the Company and of Montpelier Reinsurance Ltd. with immediate effect, subject to the approval of the Bermuda Department of Immigration. The …
The U.K.’s Financial Services Authority (FSA) announced that it has “put on hold its work to develop rules to bring about contract certainty in the insurance market.” The U.K.’s insurance community applauded the decision as an endorsement of its own …
Insurance brokerage Krauter & Co. has expanded its operations into Chicago and has hired John B. Ault, a former Marsh Inc. managing director, to lead the new office. Mr. Ault, a 22-year veteran of Marsh, was involved in business development, …
With the eyes of Congress turning to insurance reform, most commentators are focused on how change might affect the overall insurance industry and agents. But the often-overlooked surplus lines segment of the industry could end up looking different, maybe even …
US Airways cannot collect insurance for post-9/11 business losses because it already received money for that purpose from the federal government, the Virginia Supreme Court ruled March 3, according to an Associate Press report. The Tempe, Ariz.-based air carrier received …
Speaking at the World Insurance Forum in Bermuda, Hemant Shah, Risk Management Solutions CEO, warned that insurers should be preparing to increase their reserves for catastrophe losses, not only due to the unprecedented 2005 hurricane season, but also to prepare …
If your agency sends out a newsletter, take a moment, sit back and honestly evaluate it. Is it interesting and informative, packed full of helpful insurance information and ideas. Or is it loaded with canned facts and articles [yawn]. The …
