The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in net income in first-quarter 2008, the industry posted …
Opening thousands of miles of North Carolina roadways to long tractor-trailers will jeopardize lives and overtax the state’s infrastructure, a safety group cautioned. Truck Safety Coalition state coordinator Jen Tierney said June 23 a legislative proposal to allow 53-foot-long trailers …
New Day Underwriting Managers LLC, an environmental and construction insurance wholesaler, has appointed David D. Russo to the newly-created position of account manager. Russo joins New Day Underwriting from Commerce Insurance Services where he was an assistant vice president and …
According to Risk Management Solutions as many as one in four homes in the UK is at risk of flooding caused by excessive rainfall and overflowing rivers. RMS conducted a “spatial analysis of British properties – using high-resolution satellite imagery. …
Bermuda’s XL Capital Ltd. announced that it will be contributing to the disaster relief effort for those affected by the recent earthquake in Sichuan Province in China. The Company said it would “provide funds to rebuild a school and library, …
Standard & Poor’s President Deven Sharma has issued a call for a globally coordinated approach to the oversight of credit rating agencies, in order to ensure consistency for investors and issuers operating in international markets. Sharma, speaking in London at …
A terrorism alert system installed in thousands of merchant ships after the September 11, 2001 attacks is flawed because it does not immediately notify local security authorities of an attack, said a report on the system. The Ship Security Alert …
Swiss Re has released its latest sigma study, which examines and analyzes the worldwide insurance industry results from 2007. According to the report world insurance premium income grew 3.3 percent in real terms in 2007, to $4.061 trillion. The growth …
Hawaii Gov. Linda Lingle has signed SB3023 SD2 HD2 CD1 (Act 190) into law, amending the state’s captive insurance industry statutes. According to the Hawaii Department of Commerce and Consumer Affairs Insurance Division, which initiated the legislation, the new law …
The Alaska Division of Insurance has changed its policies for property and casualty insurance testing to conform with the National Association of Insurance Commissioners Producer Licensing Uniformity Standards. It will no longer be offering part 2 of the property/casualty licensing …
