Fifteen years ago, after the Midwest was swamped with what was pronounced a “100-year” or even a “500-year” flood, some folks figured they would never again see such a disaster in their lifetime. Some even dropped their flood insurance. Big …
Legislation to improve safety in Pennsylvania’s approximately 200 bituminous coal mines was poised to become law after a marathon negotiation yielded a compromise bill endorsed Monday by both the coal companies and mine workers union. The state Senate unanimously approved …
The Baltimore Fire Department is announcing a new response system that it says will save money and increase safety for responders and civilians on city streets. Under the new policy set to begin in August, responses will be deemed “hot,” …
The U.S. agriculture secretary says he is concerned that legal hurdles prevented much immediate federal help for Midwestern farmers faced with serious setbacks because of flooding. “I think everybody is frustrated because there’s never enough you can do,” Ed Schafer …
A West Virginia man who says his association with the failed First National Bank of Keystone cost him his banking career should be stripped of a $2.4 million damage award, a federal appeals court has ruled. The 4th U.S. Circuit …
Standard & Poor’s Ratings Services has placed its ‘BBB’ counterparty credit rating on Bermuda-based Allied World Assurance Co. Holdings Ltd. (AWH) on CreditWatch with negative implications. S&P also placed its ‘A-‘ counterparty credit and financial strength ratings on AWH’s operating …
Standard & Poor’s Ratings Services has affirmed its insurer financial strength and counterparty credit ratings on holding company QBE Insurance Group Ltd. (currently rated ‘A-‘) and QBE’s core operating entities (all rated A+). The rating outlooks on the holding company …
A new survey, released by PricewaterhouseCoopers (PWC) London office, notes that although significant progress has been made by the insurance industry in adopting enterprise risk management (ERM) techniques, questions still remain concerning their effectiveness. PWC noted the “background of an …
Willis Group Holdings Limited has released its annual reinsurance renewals report for July 2008. Titled – “Whose Cycle is it Anyway?” – the report found that,”while softening in the reinsurance market continues unfettered, a disparity remains between reinsurance and primary …
The National Hurricane Center in Miami said it is currently tracking a “strong tropical wave over the extreme eastern Atlantic Ocean about 330 miles southeast of Sal in the Cape Verde Islands.” The NHC said satellite images indicate that the …
