Governments in emerging markets are increasingly looking at the potential to tap capital markets to help fund the cost of recovery when costly natural catastrophes strike, experts say. Some nations have already issued debt instruments — referred to as catastrophe, …
U.S. auto safety regulators Wednesday told lawmakers they need more time to develop a tougher standard for vehicle roofs to ensure that adding more weight and headroom would not cause more vehicles to roll over. Some regulators, lawmakers, and safety …
Richmond, Virginia-based insurance broker Hilb Rogal & Hobbs Co. has promoted its president, F. Michael Crowley, to the new position of president and chief operating officer. As president, Crowley has been responsible for HRH’s retail operations. In this expanded role, …
In a joint announcement Spain’s largest insurer, MAPFRE S.A. and The Massachusetts-based Commerce Group, Inc. announced that MAPFRE has completed its acquisition of Commerce. The parties reached agreement on a deal last October (See IJ web site – https://www.insurancejournal.com/news/national/2007/10/30/84650.htm). Along …
Standard & Poor’s Ratings Services has lowered its financial strength rating on Channel Reinsurance Ltd. to ‘AA’ from ‘AAA’, removed the rating from CreditWatch with negative implications and assigned a negative outlook. “The downgrade reflects the fact that, in our …
Risk Management Solutions has performed a detailed review of the risk analysis processes for a multi-peril indemnity deal. “The transaction provides cover in two tranches against losses from U.S. windstorm and earthquake, Japanese typhoon and earthquake and European windstorm, as …
Flash flooding carried away houses and ripped a child from his father’s grasp in Belize, while falling trees killed two people in Honduras on Tuesday, raising the death toll from Central America’s twin tropical storms to at least nine. Prime …
Ministers from major trading nations will try to keep struggling world talks alive today, June 5, with supporters saying a deal could help offset the global food crisis and soften the economic slowdown. Ministers from the United States, the European …
A company owned by Ogden, Utah, developer Gadi Leshem has agreed to repay $6.3 million in workers’ compensation premiums stemming from a case in California. Los Angeles officials say Cover-All Inc., a carpet and subflooring installer, pleaded no contest to …
The Wyoming Supreme Court ruled that the state Workers’ Compensation Division erred when it denied a worker benefits because it included his wife’s income in calculating the “household income” attributable to an employee under state statute. According to State of …
