State officials say damage from the tornado that hit north metro Atlanta last week now totals more than $40 million. The tornado that touched down on May 20 caused extensive damage in Cherokee, Cobb, north Fulton and Forsyth counties. Georgia …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of the domestic life and retirement services subsidiaries of American International Group, Inc. (AIG). Best also removed these ratings from …
A police search warrant says there was blood inside a Charlotte, N.C. insurance agency owned by a man charged in the death of a woman auditing his business. The warrant says 40-year-old Michael Howell of Indian Trail initially allowed police …
Massachusetts’ insurer of last resort won’t immediately seek a steep premium increase, saving money for 150,000 customers. The decision by the FAIR Plan comes after Insurance Commissioner Nonnie Burnes rejected its request to raise premiums 13.2 percent statewide, including 25 …
Each April, weather wizard William Gray emerges from his burrow deep in the Rocky Mountains to offer his forecast for the six-month hurricane season that starts June 1. And the news media are there, breathlessly awaiting his every word. It’s …
Records obtained by a Charleston, South Carolina, newspaper show the city has spent or plans to spend more than $7.4 million after the fire that killed nine firefighters last year. The Post and Courier of Charleston reported that it obtained …
“Global insurance industry acquisitions in 2007 were driven by non-U.S. insurers, primarily Western European firms-who clearly see value in this market,” stated Sherry Manetta, director at Conning Research & Consulting. “In fact, only 20 percent of primary and reinsurer transactions …
Willis Group Holdings has announced the appointment of Renato Cassinelli as Employee Benefits Practice Leader for Latin America, effective immediately. He takes over responsibility for “helping to drive profitable growth in each of Willis’ local country markets,” said the bulletin. …
A new report from Standard & Poor’s Ratings Services – “U.K. Non-Life Insurance Underwriting Performance Should Improve In 2008, But Underlying Performance May Deteriorate” – notes that, although underwriting performance in the U.K. non-life insurance industry declined in 2007, it …
Marsh has released a “benchmarking” report examining the use of captive insurance companies by power and utility companies in four regions: the US; Europe, the Middle East and Africa (EMEA); and, Asia Pacific. Marsh said its report – Power and …
