Thousands of people were stranded on rooftops and tree branches Wednesday as cyclone-spawned floods surged through towns and villages of Pakistan’s coastline, officials said. Off the coast in the storm-tossed Arabian Sea, navy warships and helicopters searched for missing vessels, …
ACE Limited has received approval from the UK’s Financial Services Authority to establish a London-based life assurance company, ACE Europe Life Limited, doing business as “ACE Life.” The new Company “will operate in conjunction with the existing network of ACE …
According to a survey by Marsh’s UK office, “almost half of private equity firms believe they will face an increased level of lawsuits over the next two years.” 47 percent of those surveyed predicted an increase, while 43 percent said …
Kathleen A. Corbet, President of Standard & Poor’s, told the audience at its second annual European Insurance Symposium that the insurance sector is at a critical point, with the move to greater transparency, increased use of the capital markets, and …
Risk Management Solutions has launched an extensive new model for earthquake risk in Europe, which it believes is the “most comprehensive model of its type.” It covers Austria, Belgium, Germany, Italy and Switzerland, as well as Liechtenstein and Monaco. “The …
In a further move to bring its processing operations into the 21st Century, Lloyd’s announced that it has “teamed up with Adsensa – one of the London Market’s leading suppliers of slip and policy checking tools – to provide underwriters …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of “A-” (Excellent) and assigned issuer credit ratings (ICR) of “a-” to Royal & Sun Alliance Insurance Company of Canada (RSA Canada) and Quebec Assurance Company. Best also affirmed the …
Marsh announced that Kartina Thomson has joined the firm as a Managing Consultant within its Modeling, Analysis and Design team, based in the London office. She will “focus on delivering enterprise risk management solutions to the team’s international client base,” …
Brown Smith Wallace LLC recently announced that Derek Hudson has been named financial auditor in the risk management services practice. Hudson will assess the effectiveness of clients’ internal controls through testing and review. Prior to joining Brown Smith Wallace Hudson …
The Nationwide Insurance Companies, who agreed to voluntarily reevaluate Hurricane Katrina slab cases in April, have paid an additional $25 million in claims payments since the reevaluation process began, according to Mississippi Insurance Commissioner George Dale. Over 11,000 claimants filed …
