An integrated brokerage and captive solution for residential developers and builders has been launched by Beecher Carlson, an Atlanta-based brokerage and risk management consulting company. The firm’s Precision program combines risk management consultants with custom-designed alternative risk financing solutions to …
The Massachusetts Supreme Court is scheduled to hear oral arguments today in a case that could decide the future of the state’s auto insurance market. Commerce Insurance Company v. Commissioner of Insurance Automobile Insurance deals with whether the Commissioner of …
The London office of Standard & Poor’s Ratings Services has issued a statement indicating that it will “recognize a capital relief in its capital adequacy model for AXA Group (core insurance operating companies are rated AA-/Positive) related to the insurer’s …
The U.K.’s Catlin Group reported from its Bermuda operations center that Richard Banas has been appointed as president and CEO of Catlin Inc., the Group’s new U.S. subsidiary. “Rich Banas will be responsible for the operations of Catlin Insurance Company …
Lloyd’s Chairman Lord Peter Levene may finally get his wish, as U.S. insurance regulators have instructed a National Association of Insurance Commissioners (NAIC) task force to examine options for a reform of the U.S. rules on allowing credit for reinsurance. …
A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 958 with a stable outlook. “The ratings reflect syndicate 958’s excellent operating performance and distinctive profile …
The restructuring efforts at the U.K.’s Royal & SunAlliance paid off handsomely in 2005. The Group reported a 171 percent increase in operating profits to £698 million ($1.215 billion), compared to £258 million ($449 million) in 2004. Other highlights cited …
The American Insurance Association and the National Association of Mutual Insurance Companies are praising the recent actions of the Wisconsin Legislature in their passage of major tort reform legislation. The Legislature this week sent Gov. Jim Doyle a bill that …
Americans’ expanding waistlines were a factor in the capsizing of a Baltimore water taxi that killed five people in 2004, a trend that has led to other deadly transportation accidents, the government said. The National Transportation Safety Board said that …
New Jersey’s largest health insurer and two physician groups have settled a lawsuit over whether hundreds of heart specialists were overpaid for services performed in 2003 and 2004. The settlement ends the case, which pitted the Medical Society of New …
