Experts believe that many of Iowa’s flood-damaged homes could be repaired , if their owners can find the cash. Record flooding this month ravaged thousands of Iowa homes, leaving behind mud and debris. Most of the houses affected are decades …
Residents in Sioux Falls, S.D., continued to top the chart as the safest drivers in the U.S., according to the fourth annual Allstate America’s Best Drivers Report. The average driver in Sioux Falls experiences an auto collision every 14.6 years. …
A Jackson County judge won’t let a jury consider punitive damages in the case of a Pascagoula couple who sued their insurer for unpaid Hurricane Katrina damages. USAA had paid the Lisanbys $46,000 for their wind damage, denying the rest …
A jury says the parents of a premature baby who died at Tampa General Hospital should be awarded $12 million dollars. Allyson Parham and Robert Gardner contended their child died because Tampa General didn’t have the appropriate specialists on its …
Marsh has resurrected a name from the past with the announcement of the formation of Bowring Marsh as its specialist international placement broker for property (including terrorism) and casualty risks. Mark Gregory, currently UK head of Marsh’s Global Placement operations, …
Fitch Ratings has placed the ratings of XL Capital Ltd. and its P/C (re)insurance subsidiaries, including the Issuer Default Rating (IDR) and the Insurer Financial Strength (IFS) rating of lead (re)insurance companies XL Insurance (Bermuda) Ltd. and XL Re Ltd. …
It appears the “rogue” trading in the investment banking industry may not be an isolated problem. After Jerome Kerviel cost French bank Société Générale to book some $5 billion in losses, Morgan Stanley announced last week that it has lost …
Ironshore Inc. announced from Bermuda that it has signed a sale and purchase agreement with Chaucer Holdings PLC and the management of Pembroke for the £17 million ($34 million) cash purchase of Pembroke Managing Agency Limited, which manages Lloyd’s Syndicate …
Swiss Re announced that it has obtained $150 million worth of protection against North Atlantic hurricanes, European windstorms, Californian earthquakes and Japanese earthquakes and typhoons through a natural catastrophe protection program named Vega Capital Ltd. Swiss Re described Vega as …
The Bermuda Monetary Authority (BMA) announced that it has appointed Walter A. Bell to a position on its Board of Directors, as its first international member. The BMA regulates financial services for Bermuda-based companies, including the all-important insurance sector. Bell, …
