Willis Group Holdings has introduced EPIQSM (Environmental Prospective Identification and Quantification), which it describes as an “an innovative and proprietary process that generates credible loss distributions for environmental risks, even where historic loss data is scarce or not available. “The …
Zurich Financial Services has announced the following appointments within its Risk Management Group. Adrian Zweig (50, Swiss citizen), currently Head of Strategic Asset Allocation and Asset and Liability Management (ALM), has been appointed to the newly created position of Head …
Lloyd’s has reported interim results, which show a marked decline in profits for the first six months of 2008. Nonetheless, compared to what’s been happening in the global financial sector (where Lloyd’s has very little exposure), profits were better on …
Swiss Re said on Thursday its investment portfolio remains sound despite tough financial markets and reaffirmed its targets as additional writedowns were lower than many had expected. The world’s largest reinsurer also said it had taken steps to reduce its …
In the wake of the deadly train collision in Los Angeles, California’s U.S. senators are questioning a federal law that sets a $200 million limit on damage payouts to victims of a train crash. With 25 dead and more than …
Liberty Northwest, a Liberty Mutual Agency Markets regional company, announced the appointment of Julie A. Burnett as president and CEO. She succeeds Larry Becker, who has decided to retire. Burnett comes to Liberty Northwest from Safeco Corp., where her career …
Insurers Travelers Cos Inc and Chubb Corp will no longer issue surety bonds with American International Group Inc as a co-participant, according to insurance brokerage Marsh Inc. Surety contracts guarantee the performance of a specific obligation, and are often required …
Fitch Ratings has downgraded the long-term Issuer Default Ratings (IDRs) and Insurer Financial Strength (IFS) ratings of Liberty Mutual Group, Inc. (LMG) and Safeco Corp. (SAF) as follows: LMG–Long-term IDR to ‘BBB’ from ‘BBB+’; –IFS to ‘A-‘ from ‘A’. SAF–IDR …
The Hanover Insurance Group, Inc., with offices in Columbus, today announced it has named Bob Cohen to its local field leadership team in Ohio, reinforcing the company’s strong commitment to winning independent agents in the Buckeye State. The Hanover has …
More than $8 million in disaster assistance has been approved for Missouri from summer storms and flooding. The relief covers the period of June 1st through August 13th, and includes more than $3.7 million for home repairs and temporary housing. …
