A home under construction that was hit by a fire in July burned again in what Marylanders investigators believe is the latest in a series of suspicious blazes in the neighborhood. The pre-dawn fire did about $500,000 in damage to …
Birmingham, Ala.-based Vesta Insurance Group Inc. has announced that A.M. Best has downgraded the company’s property casualty subsidiaries’ ratings to C++ (Marginal) from B (Fair). Best’s Ratings reflect the A.M. Best Company’s opinion based on an evaluation of the company’s …
The Association of British Insurers has calculated that fires are “burning into the profits of British businesses at a record rate.” According to its most recent figures the cost of business fires in 2005 for the first time ever topped …
Converium announced from its headquarters in Zug, Switzerland that Terry G. Clarke will step down from its Board of Directors. Clarke took over from Dirk Lohmann as Converium’s CEO last year (See IJ Website Feb. 24, 2005), following the reinsurer’s …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) and assigned an issuer credit rating of “bbb” to Ireland’s Primary Insurance Company Limited (PICL) with a stable outlook. “PICL’s risk-adjusted capitalization has been …
The insurance industry has become a participant in a new and unusual initiative sponsored by the United Nations World Food Program, which aims to have funds available to meet the needs of disaster victims as soon as they occur. AXA …
Seventeen-year-old Brittney Hudson wasn’t wearing her seat belt when it mattered most, the moment her 2004 Toyota Celica rolled over along a rural stretch in western Colorado and ejected her from the vehicle. The crash happened a day before Thanksgiving …
There’s more to fire safety education than stop, drop and roll, firefighters say. New York City firefighters and a fire safety advocate launched a national fire safety education campaign this week with the release of a DVD that attempts to …
Lawyers for Beacon Mutual Insurance Co. in Rhode Island have challenged a state subpoena in court, saying the request to search company computers is unreasonably broad and should be quashed. The state has been investigating allegations that Rhode Island’s largest …
Insurance companies asked a federal appeals court in New York this week to reject a jury verdict that would enable developer Larry Silverstein to obtain an extra $1.1 billion to rebuild the World Trade Center complex. Meanwhile, Silverstein’s lawyers asked …
