Willis Group Holdings announced the opening of a new captive management operation, Willis Management (Malta) Ltd. “This expansion is in response to growing captive insurer and third party writer opportunities, as Malta establishes itself as a leading financial center,” said …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and senior unsecured debt ratings on Toronto-based specialty insurance provider Kingsway Financial Services Inc. to ‘BB’ from ‘BB+’. S&P also lowered the debt ratings on Kingsway’s subsidiaries to ‘BB’ …
The UK’s Financial Services Authority is assessing the insurance comparison web site market, after it “found evidence of both good and bad practice.” In fact the FSA said it would be “looking for all web sites to ensure that users …
Aon Re Global, a unit of Aon Corporation, announced it has acquired Peruvian reinsurance intermediary Cosegur Re, “offering clients in Peru greater access to worldwide reinsurance markets” and Aon Re Global’s catastrophe modeling and servicing capabilities. Terms of the agreement, …
An earthquake with a magnitude of 7.5 struck China’s Sichuan province on Monday, less than 100 km (60 miles) from the provincial capital of Chengdu, the U.S. Geological Survey said on its web site. The quake was felt across much …
The Montana State Fund is cutting workers’ compensation insurance rates by an average of 3 percent next year, the agency’s board said. This is the second year in a row the State Fund, a semiprivate branch of state government, has …
A group of Ohio employers who say their businesses are being crushed by injured-worker insurance rates that the state modified last year has asked the state’s watchdog to take another look at the program. The newly formed coalition, We’veHadEnough.Net, told …
Three businesses sued on Friday, May 9th to halt a state fee increase for obtaining driver’s license and vehicle records, claiming the higher fee violates Missouri’s open-records law as well the state and federal constitutions. The lawsuit, filed by companies …
An Alabama official estimates the state needs between $100 million to $110 million – double its allocated federal aid – to address persistent housing needs in 22 counties declared disaster areas from Hurricane Katrina. “That would do it for housing,” …
With the Mississippi River receding at quick pace, officials opened the Steele Bayou flood control gates in Vicksburg May 8. That means water should also start receding from the 344,000 acres of flooded forest and farmland in the Yazoo River …
